PNC Infratech Ltd has secured a significant arbitration award worth ₹485.28 crore in a long-standing dispute with the National Highways Authority of India (NHAI), the infrastructure firm informed the stock exchanges on Saturday.
The award pertains to an EPC (Engineering, Procurement, and Construction) contract for the “Construction of Balance Work of New Four Lane Agra Bypass” project, connecting NH-2 and NH-3 in Uttar Pradesh. The dispute was adjudicated by an arbitral tribunal comprising former Chief Justice of India Dipak Misra and former Supreme Court judges Justice K.S.P. Radhakrishnan and Justice G.S. Singhvi.
The tribunal, after considering PNC Infratech’s claims and NHAI’s counterclaims, ruled in favour of the company and awarded it ₹485.28 crore along with 12% annual interest from May 17, 2025, until the date of realization. NHAI’s counterclaims, amounting to ₹38.52 crore plus interest, were dismissed.
PNC had initially filed claims aggregating to ₹661.51 crore (including interest up to August 24, 2024), following disputes that emerged during the execution of the project. The arbitration proceedings began in June 2019.
The financial impact of the award will be determined once the amount is realised, the company stated.
