PNC Infratech vs HG Infra Engineering: Which Stock Should You Track

PNC Infratech MCap Rs 6,523 Cr, PE 7.84x, ROE 6.58%, D/E 0.76, PB 0.96. HG Infra MCap Rs 3,540 Cr, PE 10.73x, ROE 9.10%, D/E 1.54.

PNC Infratech vs HG Infra Engineering is a comparison mid-cap road EPC investors look up when evaluating two listed Indian highway construction companies. Both are primarily EPC contractors in road and highway projects under NHAI (National Highways Authority of India), HAM (Hybrid Annuity Model) and state government contracts. PNC Infratech is a Noida-based EPC company primarily executing UP and Central India highway projects, while HG Infra Engineering is a Jaipur-based company focused on road projects in Rajasthan, Madhya Pradesh and adjoining states.

This PNC Infratech vs HG Infra Engineering article covers reach and market position, key products, latest declared results and stock valuation. The PNC Infratech vs HG Infra Engineering data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.

PNC Infratech vs HG Infra Engineering: Reach and Market Position

On the PNC Infratech side of the PNC Infratech vs HG Infra Engineering comparison, PNC Infratech executes road projects primarily in Uttar Pradesh, Bihar, Madhya Pradesh and other Central India states. It has diversified into water pipeline projects. Market capitalisation is Rs 6,523 Cr.

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On the HG Infra Engineering side of the PNC Infratech vs HG Infra Engineering comparison, HG Infra Engineering executes road and highway projects primarily in Rajasthan, MP, Gujarat and adjoining states. Market capitalisation is Rs 3,540 Cr.

PNC Infratech vs HG Infra Engineering: Key Products and Business Mix

In the PNC Infratech vs HG Infra Engineering product comparison, PNC Infratech offers: PNC Infratech earns from road EPC and HAM project revenues. EPS is Rs 32.41. P/E is 7.84x, ROE 6.58 percent, D/E 0.76. PB is 0.96 — trading below book value. Dividend yield is 0.24 percent.

For HG Infra Engineering in this PNC Infratech vs HG Infra Engineering breakdown: HG Infra earns from road EPC and HAM project revenues. EPS is Rs 50.61. P/E is 10.73x, ROE 9.10 percent, D/E 1.54.

PNC Infratech vs HG Infra Engineering: Latest Results

The PNC Infratech vs HG Infra Engineering results for PNC Infratech: PNC Infratech has a market cap of Rs 6,523 Cr and P/E of 7.84x. ROE is 6.58 percent with moderate D/E of 0.76. PNC trades at PB of 0.96 — below book value — which is unusual for a road EPC company with a live order book.

The PNC Infratech vs HG Infra Engineering results for HG Infra Engineering: HG Infra has a market cap of Rs 3,540 Cr and P/E of 10.73x. ROE is 9.10 percent. D/E of 1.54 is elevated, reflecting HAM project equity investments. HG Infra is roughly half the size of PNC Infratech.

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PNC Infratech vs HG Infra Engineering: Stock and Valuation

The PNC Infratech vs HG Infra Engineering stock comparison uses the latest available market data from Groww. Investors tracking PNC Infratech vs HG Infra Engineering should verify current prices on NSE or BSE before trading.

PNC Infratech vs HG Infra Engineering at current valuations: PNC trades at Rs 6,523 Cr market cap, P/E 7.84x, ROE 6.58 percent, PB 0.96. HG Infra trades at Rs 3,540 Cr market cap, P/E 10.73x, ROE 9.10 percent, D/E 1.54. Both are deeply valued road EPC companies trading at very low P/E and sub-book-value multiples.

PNC Infratech vs HG Infra Engineering: Quick Comparison Table

The PNC Infratech vs HG Infra Engineering comparison table below summarises the key metrics covered in this article side by side.

Conclusion

The PNC Infratech vs HG Infra Engineering comparison above covers the key data points on reach, products, results and valuation. PNC Infratech vs HG Infra Engineering covers two mid-cap road EPC contractors at very low valuations. Both are profitable and have live order books under government highway programmes. The sector has faced challenges from NHAI order award slowdowns and HAM equity call cycles. Investors should review order book size, order award outlook, NHAI payment track record and HAM equity call obligations before taking a view. Consult a SEBI-registered advisor for personalised guidance.

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Frequently Asked Questions

What is HAM in road infrastructure?

Ans. HAM stands for Hybrid Annuity Model. It is a government road concession model where the government pays 40 percent of the project cost during construction, and the developer earns 60 percent through annuity payments over 15 years.

Why does PNC Infratech trade below book value?

Ans. PNC Infratech’s P/B of 0.96 reflects a period of order slowdown from NHAI and elevated D/E from HAM equity investments. Sub-book trading implies the market is pricing in earnings uncertainty.

Is PNC Infratech a good EPC investment?

Ans. PNC Infratech has a good track record in road EPC execution. Investors should review NHAI order awards, collection cycles, HAM equity calls and management guidance. Consult a SEBI-registered advisor.

What projects does HG Infra Engineering execute?

Ans. HG Infra primarily executes NHAI road and highway projects in Rajasthan, Madhya Pradesh and Gujarat. It has also bid for projects in other states.

Does NHAI payment affect EPC company cash flows?

Ans. Yes. NHAI payment delays can strain working capital for EPC companies. Timely mobilisation advances and payment cycles from NHAI are important for EPC financial health.

Are PNC and HG Infra in Nifty 50?

Ans. No. Both are small-to-mid-cap companies outside Nifty 50.

Does PNC Infratech pay dividends?

Ans. Yes. PNC Infratech pays a small dividend yield of approximately 0.24 percent.