₹505, indicating an upside of 15%. The road sector is witnessing encouraging development owing to increased government thrust on infrastructure investment. Furthermore, diversification into railways augurs well for the company implying lower dependence on the road projects, noted Axis. The company reported good operating performance in Q2FY24 with Revenue/EBITDA/PAT growth of 8%/10%/7% which were broadly in line with estimates, it added. Considering its strong and diversified order book position, healthy bidding pipeline, new order inflows, emerging opportunities in the construction space, the company’s efficient and timely execution, and strong financial credence, Axis expects PNCIL to report Revenue/EBITDA/APAT CAGR of 11%/11%/12% respectively over FY23-FY26E.” title =”PNC Infratech: The brokerage has a ‘buy’ call on the industrial stock with a target price of ₹505, indicating an upside of 15%. The road sector is witnessing encouraging development owing to increased government thrust on infrastructure investment. Furthermore, diversification into railways augurs well for the company implying lower dependence on the road projects, noted Axis. The company reported good operating performance in Q2FY24 with Revenue/EBITDA/PAT growth of 8%/10%/7% which were broadly in line with estimates, it added. Considering its strong and diversified order book position, healthy bidding pipeline, new order inflows, emerging opportunities in the construction space, the company’s efficient and timely execution, and strong financial credence, Axis expects PNCIL to report Revenue/EBITDA/APAT CAGR of 11%/11%/12% respectively over FY23-FY26E.”>
