PNC Infratech shares are in focus after the Delhi High Court stayed debarment orders issued by the National Highways Authority of India (NHAI) against the infrastructure company and its special purpose vehicle, Awadh Expressway Pvt. Ltd.
In an exchange filing, PNC Infratech said the court had stayed the orders dated September 3 and September 11, 2026. Awadh Expressway is the concessionaire for the project linked to the dispute. The company also clarified that the debarment imposed on the concessionaire had been extended to PNC Infratech.
PNC Infratech said its business operations and those of its subsidiaries would continue as usual. It added that any financial implications arising from the matter, if applicable, would be disclosed in due course.
The legal development follows action initiated by NHAI in August, when the authority issued a notice proposing to classify the company as a “non-performer”. Such a classification could affect its eligibility to bid for future highway projects. NHAI subsequently barred the company from participating in projects tendered by the authority and the Ministry of Road Transport and Highways for three years.
The High Court’s order provides interim relief by staying the debarment orders, while further legal proceedings remain relevant to the dispute.
Separately, PNC Infratech reported a 42.6% year-on-year increase in earnings before interest, tax, depreciation and amortisation (EBITDA) in the first quarter. Its EBITDA margin also expanded by more than 500 basis points compared with the same period last year.
Investors will track further court developments, the status of the NHAI proceedings and any potential impact on the company’s project pipeline and financial performance.
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