PNC Infratech Limited — Interim / Quarterly Report 2021

Aug 11, 2021

PNC lnfratech Limited

An ISO 9001 :2015 Certified Company

Ref No: PNC/SE/33121-22

Date: 11.08.2021

To, The Manager The Department of Corporate Services BSE Limited Floor 25,P.J. Towers, Dalal Street, Mumbai-400 001 Scrip code:539150

To, The Manager The Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 Scrip code: PNCINFRA

Dear Sir,

Sub: Un-Audited Financial Results of the Companv for the Ouarter ended June 30. ²⁰²¹ (olFY 22)

Enclosed please find herewith the Un-audited Standalone & Consolidated Financial Results of the Company for the quarter ended 30th June, 2021 interms of Reg. 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, duly reviewed and approved by the Audit Committee and the Board of Directors in their respective meetings held today, the August 11, 2021 at 12:15 P.M. and concluded at02:20 P.M., along with Limited Review Report of the Auditors thereon.

Kindly take the aforementioned information on record.

Thanking you, For PNC Infratech L {+{ Tap{n Ja Company Secretary & ICSI M. No.: A22603 SHC.;;\ f+r-'t,r'-\L\'r'',1

Encl: a/a

Corporate Office : PNC Tower, 3122-D, Civil Lines, Bypass Road, NH-2, Agra-282002

Regd. Office: NBCC Plaza, Tower ll, 4th Floor, Pushp Vihar, Sector-V, Saket New Delhi-1'l 001 7 (lndia)

Tel. : 91-562-4054400 (30 Lines) 9'l-562-4070000 (30 Lines)

Fax : 91-562-4070011 Email : ho@pncinfratech.com

Tel. :91-'11-29574800 ('10 Lines) 91 -1 1 -295665'1 1, 64724122 Fax:+91-11-29563844 Email : delhioffice@pncinfratech.com

Web. : www.pncinfratech.com CIN :145201D11999P1C195937

Independent Auditor's Limited Review Report on the Quarterly Unaudited Standalone Financial Results of the Company Pursuant to Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors PNC Infratech Limited

We have reviewed the accompanying statement of unaudited standalone financial results of PNC Infratech Limited ("the Company") for the quarter ended June 30, 2021 ("the Statement") prepared as per applicable Indian Accounting Standards (Ind-AS) being submitted by the Company pursuant to requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, as amended.

This statement is the responsibility of the Company's management and has been approved by the Board of Directors. The preparation of the statement is in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 34, "Interim Financial Reporting", prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statements are free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited standalone financial results prepared in accordance with applicable Indian Accounting Standards (Ind-AS)- prescribed under section 133 of the Companies Act, 2013, read with relevant rules issued thereunder, and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

We did not review the interim financial results of three joint operations included in the standalone unaudited interim financial results, whose results reflect total revenue of Rs. 10,797.17 Lakh, total net profit after tax of Rs. 37.07 Lakh and total comprehensive income of Rs. 37.07 Lakh for the quarter ended on June 30, 2021. The interim financial results of joint operations have been reviewed by the other auditors whose reports have been furnished to us or other auditors, and our conclusion in so far as it relates to the amounts and disclosures included in respect of joint operations, is based solely on the report of such other auditors and the procedures performed by us as stated in the above paragraphs above. Our Conclusion on the standalone financial results is not modified in respect of the above matter.

For S S Kothari Mehta & Company

Chartered Accountants Firm Reg. No. 000756N MEHTA · ROZYARI NEW DELHI Harish Gupta ERED ACCO

Partner Membership No. 098336

UDIN: 21098336AAAAIG2528

Place: New Delhi Date: August 11, 2021

PNC lnfratech Limited

Registered Office : NBCC PIAZA, Tower ll, 4th Floor, Pushp Vihar, Sector -5, New Delhi-110017 Email Contact : complianceofficer@pncinfratech.com

CIN No. 145201D11999P1Cl95937

Statement of Standalone Financial Results for the Quarter ended 30th June 2021

		( tn lakhs (Except EpSl Standalone Quarter ended Year ended
Sr. No.	Particulars
		June 3O,2O2L	March 31,	June 30, 2020	March 37,2027
		Unaudited	Audited	Unaudited	Audited
L
	la) Revenue from operations	12s,118.90	1.64,427.87	90,526.00	492,541.86
	b) Other lncome	1,,775.88	1.,706.71.	1.,91.1.87	7,524.49
	Total lncome	L25,894.78	766,L34.58	92,437.87	500,066.35
2	Expenses
	a) Cost of materials consumed/ Contract paid	88,558.28	116,848.95	65,520.63	349,652.93
	b) Employee benefits expense	7,288.1.5	7,754.63	4,372.1.1	27,908.70
	c) Finance Costs	1,803.48	1_,477.75	2,528.49	7,71.0.86
	d) Depreciation and amortization expense	3,1.49.31,	2,998.63	2,701,.38	1,L,238.39
	e) Other expenses	1.I,728.18	1.6,587.93	8,656.01	47,705.03
	Total expenses (a to e)	LL2,527.40	L45,667.89	83,778.52	444,215.91
3	Total Profit before exceptional ltem and tax	1.4,367.38	20,466.69	8,659.25	55,850.44
4	Exceptional ltem
5	fotal Profit before tax	!4,367.38	20,466.69	8,659.25	55,850.44
6	lax Expense
	a) Current Tax c) Taxation in respect of earlier years	3,787.61.	7,41_5.1.6	3,294.35	20,058.39
	:) Deferred Tax		(81.40)		(81.40)
	fotal Provision for Taxation (a to c)	1,,250.56	194.40	(647.04)	(32L.17)
7	tlet Profit/(Loss) after tax (5-6)	5,038.17 9,329.2L	7,528.L6 12,938.53	2,647.31	19,555.92
8	)ther Comprehensive lncome (Net of taxes)			6,O77.94	36,194.62
(i)	tem that will not be reclassified to profit & Loss (Net rf Taxes)	(2.0 7)l	(1ss.07)	50.62	(7.20)
(ii)	tem that will be reclassified to profit & Loss (Net of -axes)
	'otal Comprehensive lncome after Tax (7-8)	9,327.14	!2,779.46	6,062.56	36,187.42
9	'aid-up Equity Share Capltal (Face value of { 2 each)	5,130.78	5,130.78	5,130.78	5,130.78
10	)ther Equity				285,71.6.26
LT	arnings per share - Basic & Diluted (( ) Face value of ( 2 each)	3.64	s.04	2.34	l 14.771
		(Not annualized)	(Not annualized)	(Not annualized)	I I (Annualized)

Notes:

• L. The above standalone results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on August LL,202'1,.
• 1. The results for the quarter ended on June 30, 2O2t are in compliance with lndian Accounting Standards (lnd-AS) notified by the Ministry of Corporate Affairs, read with SEBt Circular No CtR /cro1 CMD1./44/2019 dated March 29,201,9 as amended and in terms of amendments made in SEBI (Listing Obligation and Disclosure Requirement) Regulations,2015. These results have been subjected to limited review by the statutory Auditors of the company.
• 1. The Company has only single reportable primary segment which is infrastructure development including project construction/execution activities.
• The Company has reassessed the option of tax regime available under section 115BAA of the lncome Tax Act, 1961 and intends to transition of the new tax. Accordingly, the Company has reversed the Minimum Alternative Tax (MAT) credit amounting to { 104L.09 Lakhs. p
• Figures for the quarter ending March 31-,2O2Lare balancing figure between annual audited figures for year ended March 3L,2O2t and nine months limited review figures published upto December 31,,2020 as per SRE 2410. 5.
• 1. The second wave of pandemic COVID 19 and restrictions imposed by the government authorities to contain it, impacted the Company's operational performance in the first quarter of current financial year, more particularly in the month of May 2L to certain extent. Nonetheless, realisation of payments from project proponents/authorities has been normal during the lockdown period, enabled the Company to meet its liabilities, including employee payables in timely manner and there has been no significant impact on business development activities of the Company. The situation started becoming normal towards the end of quarter. The Company through the state level lockdown / restriction period and even subsequently has been able to maintain adequate control on its assets due to its robust control mechanism developed over the years. Going forward, given the reality of uncertainty, the Company will continue to monitor any material development that may unfold and could affect the socio-economic landscape in general and infrastructure sector in particular, to protect its' interest.

The Company currently has a robust order book, expounding to a clear visibility of revenues over the next 2-3 years. The strong liquidity position and practically non-utilisation of sanctioned fund based credit facilities will act as buffer liquidity to meet the exigencies, if any. The Company also have adequate non-fund based sanctioned limits to cater for and pursue worthy project opportunities, unrestrictedly. L

• 1. The Company, along with its wholly owned subsidiary, PNC lnfra Holdings Limited and other partners/promoters,on 1st April, 21,, has entered into a 'Share Purchase Agreement' and other related transaction documents inter alia for sale its entire stake of 35% (which includes Ig.BB% stake held by PNC lnfra Holdings Ltd., a Wholly Owned Subsidiary of Company) in Ghaziabad Aligarh Expressway Private Limited, an "Associate" of the Company to Cube Highways and lnfrastructure Pte Ltd ("Cube Highways"). The consummation of proposed transaction is subject to receipt of applicable regulatory and other approvals and complying with the conditions precedent, more specifically laid down in the Share Purchase Agreement.
• Figures for the previous periods have been regrouped/rearranged, wherever necessary. 8.
• The aforesaid unaudited standalone financial results will be uploaded on the Company's website www.pncinfratech.comand will also be available on the website of BSE Limited www.bseindia.comand the National Stock Exchange of lndia Limited www.nsej4dia.comfor the benefit of the shareholders and investors.

Place: Agra Date: August Lt,202L

Cha Ma (DlN:00086768) V tb^

Independent Auditor's Limited Review Report on the Quarterly Consolidated Unaudited Financial Results of the Company Pursuant to Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended

SS KOTHARI MEHTA

CHARTERED ACCOUNTANTS

T₀ The Board of Directors PNC Infratech Limited

• 1. We have reviewed the accompanying statement of consolidated unaudited financial results (the "Statement") of PNC Infratech Limited (hereinafter referred to as the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), and its associate for the quarter ended June 30, 2021, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 34, "Interim Financial Reporting" ("Ind AS 34"), prescribed under section 133 of the Companies Act, 2013 read with the relevant rules thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

S S KOTHARI MEHTA CHARTERED ACCOUNTANTS

1. The Statement includes the results of the following entities:

(a) Subsidiaries:

• 1. PNC Infra Holdings Limited
• PNC Bareilly Nainital Highways Private Limited $\overline{2}$ .
• 1. Ferrovia Transrail Solutions Private Limited
• 1. PNC Raebareli Highways Private Limited
• 1. MP Highways Private Limited
• PNC Kanpur Highways Limited 6.
• 1. PNC Delhi Industrialinfra Private Limited
• 1. PNC Kanpur Ayodhya Tollways Private Limited
• 1. PNC Rajasthan Highways Private Limited
• 1. PNC Chitradurga Highways Private Limited
• 1. PNC khajuraho Highways Private Limited
• 1. PNC Bundelkhand Highways Private Limited
• 1. PNC Triveni Sangam Highways Private Limited
• 1. PNC Aligarh Highways Private Limited
• 1. PNC Challakere (Karnataka) Highways Private Limited
• 1. PNC Bithur Kanpur Highways Private Limited
• 1. PNC Gomti Highways Private Limited
• 1. PNC Unnao Highways Private Limited
• 1. PNC Meerut Haridwar Highways Private Limited

(b) Associate:

1. Ghaziabad Aligarh Expressway Private Limited

1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

S S KOTHARI MEHTA

COMPAN CHARTERED ACCOUNTANTS

1. (a) We did not review the financial results of 18 subsidiaries whose unaudited consolidated financial results reflect total revenue of Rs. 85,589.09 Lakh, total net profit after tax of Rs. 1,962.81 Lakh, and total comprehensive income of Rs. 1,958.77 Lakh, for the quarter ended June 30, 2021 as considered in the consolidated financial results. These financial results have been reviewed by other auditors whose reports have been furnished to us by the management and our conclusion on the statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the review reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the statement is not modified in respect of the above matters.

(b) The Statement also Includes the financial result of one subsidiary, which has not been reviewed by their auditor, whose financial results reflects total revenue of Rs. Nil, total net profit /(loss) after tax of Rs. (6.57) Lakh and total comprehensive income/ (loss) of Rs. (6.57) Lakh, for the quarter ended June 30, 2021 as considered in the unaudited consolidated financial results, According to the information and explanations given to us by the management, these financial results are not material to the group. Our conclusion on the statement is not modified in respect of the above matters.

(c) We did not review the financial results of one associate whose unaudited financial results reflect total revenue of Rs. 4,898.96 Lakh, total net profit after tax of Rs. 1,409.71 Lakh and total comprehensive income of Rs. 1,409.71 Lakh for the quarter ended June 30, 2021 as considered in the unaudited consolidated financial results. These financial results have been reviewed by other auditor whose report have been furnished to us by the management and our conclusion on the statement, in so far as it relates to the amounts and disclosures included in respect of this associate, is based solely on the review report of the other auditor and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the statement is not modified in respect of the above matters.

(d) We did not review the financial results of three joint operations included in the standalone unaudited financial results, whose results reflect total revenues of Rs. 10,797.17 Lakh, total net profit after tax of Rs. 37.07 Lakh and total comprehensive income of Rs. 37.07 Lakh for quarter ended June 30, 2021 as considered in the respective standalone unaudited financial results of the

entities included in the group. The financial results of joint operations have been reviewed by the other auditor whose reports have been furnished to us by the management, and our conclusion on the statement, in so far as it relates to the amounts and disclosures included in respect of joint operations, is based solely on the report of other auditor and the procedures performed by us as stated in the paragraphs above. Our conclusion on the statement is not modified in respect of the above matters.

S S KOTHARI MEHTA

CHARTERED ACCOUNTANTS

For S S Kothari Mehta & Company Chartered Accountants HARI MEHTA & Firm Reg. No. 000756N KOT $\overline{\text{ss}}$ NEW DELHI Harish Gupta REDACCOU Partner Membership No. 098336

UDIN: 21098336AAAAIH7035

Place: New Delhi Date: August 11, 2021

PNC lnfratech Limited Registered Office : NBCC PLAZA, Tower ll, 4th Floor, Pushp Vihar, Sector -S, New Delhi-j.10017 Email Contact : complianceofficer@pncinfratech.com CIN : 145201D11999P1C195937

STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30,2021

	ln Lakhs
		Consolidated
	Particulars		Year Ended
Sr. No		June 30, 2021	March31,2O2L	June 30, 2020	March31,202t
		(Unaudited)	(Audited)	(Unaudited)	(Audited)
1.
	a) Revenue from operations	146,250.60	L86,427.20	r09,281,.1L	578,156.85
	b) Other lncome	2,230.63	2,355.40	3,028.13	1.1.,1,32.44
	Total lncome	L48,48L.23	L88,782.60	tt2,309.24	589,889.29
2
	a) Cost of material consumed/contract paid	88,743.72	1.11,238.49	65,11.5.71	350,914.27
	b) Employee benefits expense	8,1.2L.14	8,546.09	4,949.59	30,728.24
	c) Finance Costs	10,3 18.8s	10,169.84	L1.,646.96	42,506.71.
	d) Depreciation and amortization expense	9,852.39	8,866.43	7,479.37	36,324.63
	) Other expenses	13,128.30	18,651.00	9,928.84	55,327.55
	Total expenses (a to e)	130,165.00	163,471.85	99,720.47	515,901.40
)	otal Profit before exceptional item and tax	18,3L6.23	25,31.0.75	1,2,588.77	73,987.89
4	xceptional ltem
5	Profit before tax	18,316.23	25,3t0.75	12,588.77	73,987.89
6	Expense
	a) Current Tax	4,9t3.17	8,056.18	4,021.6s	23,32114
	lb) Taxation in respect of earlier years		(81.40)		(16.70)
I	lc) Deferred Tax	2,1_17.58	2,120.39	(e17.86)	L,479.29
	lTotal Provision for Taxation (a to c)	7,030.75	10,095.17	3,L09.79	24,724.33
7	lNet Profit from Continuing operation (5-6)	11,285.48	15,215.58	9,478._98	49,263.56
8	lProfit/ Loss from discontining operation
	lTax expenses of discontining operation
	lNet Profit/ Loss from discontining operation after tax
9	Share in Profit /(Loss) of Assiciates accounted for using equity method	493.40	(179.94)	(304.3s)	426.69
10	Net Profit/(Loss) after tax (7-8-9)	1,-,778_88	1s,035.64	I,174.53	49,690.2s
1L	Other Comprehesive lncome (Net of taxes)
(i)	Item that will not be reclassified to Profit & Loss (Net of Taxes)	( 6.10)	(21,6.10]	64.44	(23.0s)
(ii)	Item that will be reclassified to Profit & Loss (Net ofTaxes)
	Total Comprehesive lncome after Tax (7+8)	71,772.78	t4,8L8.94	9,239.O7	49,667.20
1.2	Paid-up Equity Share Capital (Face value of { 2 each)	5,130.78	5,130.78	5,130.78	5,130.78
13	Other Equity				300,185.23
L4	Earnings per share - Basic &Diluted (( ) (Face value of t 2 each)	4.59	s.86	3.58 l	1,9.37
		(Not a nnualized)	(Not annualized)	I (Not annualized) I	(Ann ua lized)

L

PNC lnfratech Ltd. Registered office: NBCC Plaza, Tower-ll,4th Floor, Pushp Vihar, sector-5, New Delhi-1j.0017 Email Contact : complianceofficer@pncinfratech.com CIN: 145201D11999P1C195937

				(< ln takhs)
	Quarter Ended			Year ended
Particu lars	30-Jun-21 3L-Mar-2L		30-Jun-20	31-Mar-21
	Unaudited	Audited	Unaudited	Audited
Segment Revenue
Contract	1,25,252.93	161,,409.84	90,526.1.4	486,807.88
Toll/Annuity	20,997.67	25,017.36	18,754.97	91_,948.97
Total	L46,250.60	L86,427.20	LOg,28L.LL	578,756.85
Less: lnter-segment revenue
Net revenue from operations	L46,250,60	L86,427.20	LOg,28L.LL	578,756.85
Segment Results
Contract	1,4,522.45	1,7,197.87	9,262.98	50,202.30
Toll/Annuity	11,882.00	1.5,927.31	1_1_,944.62	55,259.8s
Total	26,404.45	33,L25.L8	2L,2O7.5O	!05,452.L5
Less: Other unallocable expenditure	r-0,318.8s	10,169.83	1"1,646.96	42,606.70
Add: Unallocable other income	2,230.63	2,355.40	3,028.13	11.,132.44
Profit before tax and non-controlling interests	L8,3t6.23	25,3LO.75	L2,588.77	73,987.89
Segment Assets
Contract	318,65L.72	308,097.08	271.,489.86	308,097.08
Toll/Annuity	684,940.71.	649,427.74	605,255.67	649,427.74
U nallocated
	L,OO3,592,43	957,524.82	876,745.53	957,524.82
Segment Liabilities
Contract	156,s60.66	17L,655.46	1_54,738.01	17L,655.46
Toll/Annuity	529,9011.5	480,600.84	457,309.00	480,600.84
U nallocated
	l 585,461.81	652,256.3O	6t2,O47.OL	652,256.30

Notes on segment information :-

Business segments

Based on the "management approach" as defined in lnd AS 108 - Operating Segments, the Management evaluates the Company's performance and allocates resources based on ananalysis of various performance indicators by business segments. Accordingly, !nformation has been presented along these business segments. The accounting principles used in the preparation of the financial statements are consistently applied to record revenue and expenditure in individual segments. {- p'

Notes:

• L. The above consolidated results have been reviewed by the Audit Committee, were approved by the Board of Directors at its meeting held on August 1-1,,202L.
• 1. The results for the quarter ended June 30, 2O2t are in compliance with lndian Accounting Standards (lnd-AS) notified by the Ministry of Corporate Affairs, read with SEBI Circular No CIR /CFD/ CMD1,/44/2019 dated March 29, 2OL9 as amended and in terms of amendment made in SEBI (Listing Obligation and Disclosure Requirement) Regulations,2Ol5. These results have been subjected to limited review by the statutory auditors of the Company.
• 1. Figures for the quarter ending March 31,2021, are balancing figure between annual audited figures for year ended March 31",2021. and nine months limited review figures published up to December 31,,2020 as per SRE 2410.
• 1. The group has disclosed business segment as primary segment. Segments have been identified taking into account the nature of work/services, risk, return and organisational structure. The Chief operating decision maker (CODM) identifies two segment as reportable segment i.e. EPC Contract and BOT (Toll and Annuity).
• 1. The second wave of pandemic COVID L9 and restrictions imposed by the government authorities to contain it, impacted the Company's operational performance in the first quarter of current financial year, more particularly in the month of May 21to certain extent. Nonetheless, realisation of payments from project proponents/authorities has been normal during the lockdown period, enabled the Company to meet its liabilities, including employee payables in timely manner and there has been no significant impact on business development activities of the Company. The situation started becoming normal towards the end of quarter. The Company through the state Ievel lockdown / restriction period and even subsequently has been able to maintain adequate control on its assets due to its robust control mechanism developed over the years. Going forward, given the reality of uncertainty, the Company will continue to monitor any material development that may unfold and could affect the socio-economic landscape in general and infrastructure sector in particular, to protect its' interest.

The Company currently has a robust order book, expounding to a clear visibility of revenues over the next 2-3 years. The strong liquidity position and practically non-utilisation of sanctioned fund based credit facilities will act as buffer liquidity to meet the exigencies, if any. The Company also have adequate non-fund based sanctioned limits to cater for and pursue worthy project opportu nities, unrestrictedly.

1. The Company, along with its wholly owned subsidiary, PNC lnfra Holdings Limited and other partners/promoters, on 1st April, 21,, has entered into a 'Share Purchase Agreement' and other related transaction documents inter alia for sale its entire stake of 35% (which includes 19.88% stake held by PNC lnfra Holdings Ltd., a Wholly Owned Subsidiary of Company) in Ghaziabad Aligarh Expressway Private Limited, an "Associate" of the Company to Cube Highways and lnfrastructure Pte Ltd ("Cube Highways"). The consummation of proposed transaction is subject to receipt of applicable regulatory and other approvals and complying with the conditions precedent,

D ./l* de , 1 1/' ' ,'

{,r,

• 1. Figures for the previous periods have been regrouped f rearranged, wherever necessary,
• 1. The aforesaid unaudited consolidated financial results will be uploaded on the Company's website www.pncinf ratech.comand will also be available on the website of BSE Limited www.bseindia.comand the National Stock Exchange of lndia Limited www.nseindia.comfor the benefit of the shareholders and investors.

Place: Agra Date: AugustLt,2O2L

For P L Chakres, Managin Tlain

(DtN:00t Director 86768) a/ W