Analysts/Institutional Investor Meet/Con. Call Updates

PNC lnfratech Limited An ISO 9001 :2015 Certified Company Ref No: PNC/SE/77 126-27 Date:3.11.2026 To, To, The Manager The Manager Deparlment of Corporate Servicos Listing Department BSE Limited National Stock Exchange of India Limited Floor 25,P.J. Towers, Exclrange Plaza, BandraKurla Complex, Dalal Street, Mumbai - 400 001 Bandra (E), Munrbai - 400 051 Scrip code:539150 NSE Symbol: PNCINFRA Dear Sir, Sub- Transcript of Q2 H1FY27 Earnings Confcrcncc Call on Financial llesults for the quarter and half year cnded September 3{l,2ll2(t Pursuant to Regulation 30 of the SEBI (Listing Obligutiuns antl l)isolosurc Requirements) Regulations, 2015 we are enclosing herewith the transoript ol'ln r:arnirrgs confbrence call on Financial Results for the quarter and half year ended Soptcnrbor 30.2026 hclcl on Thursday, 29th October,2026. You are requested to take this information on your recorcl. Thanking you, Yours faithfully, For PNC Infratech Limited Tapan Jain Company Secretary & Compliance Officer ICSI M. No.: 422603 Encl: a/a Corporate Office : PNC Tower, Tel. : 91-562-4054400 (30 Lines) Fax:91-562-4070011 Email:ho@pncinfratech.com 3122-D, Civil Lines, Bypass Road, 91-562-4070000 (30 Lines) FlSFIiIlFl NH-2, Agra-282002 Regd. Office : NBCC Plaza, Tower ll, fel. : 91 -1 1 -29574800 (1 0 Lines) Fax : +91-11-29563844 Email : delhioffice@pncinfratech.com 4th Floor, Pushp Vihar, Sector-V Saket 9'i-11-2956651 1, 64724122 Web. : www.pncinfratech.com New Delhi:'l'1 001 7 (lndia) CIN :145201D11999P1C195937 “PNC Infratech Limited Q2 FY27 Earnings Conference Call” October 29, 2026 E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchanges on 29th October 2026 will prevail. MANAGEMENT: MR. YOGESH JAIN – MANAGING DIRECTOR – PNC INFRATECH LIMITED MR. T.R. RAO – DIRECTOR, INFRA – PNC INFRATECH LIMITED MR. PANKAJ AGARWAL – VICE PRESIDENT, FINANCE AND ACCOUNTS – PNC INFRATECH LIMITED STRATEGIC GROWTH ADVISORS – INVESTOR RELATIONS – PNC INFRATECH LIMITED MODERATOR: MR. VAIBHAV SHAH – JM FINANCIAL INSTITUTIONAL SECURITIES LIMITED Page 1 of 20 PNC Infratech Limited October 29, 2026 Moderator: Ladies and gentlemen, good day, and welcome to PNC Infratech Limited Q2 FY27 Earnings Conference Call, hosted by JM Financial Institutional Securities Limited. As a reminder, all participants' line will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star, then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Vaibhav Shah from JM Financial Institutional Securities Limited. Thank you, and over to you, sir. Vaibhav Shah: Yes, thank you. Good afternoon, ladies and gentlemen. On behalf of JM Financial, I am pleased to welcome you all on PNC Infratech Limited second quarter FY27 earnings conference call. We have with us from the management the Managing Director of the company, Mr. Yogesh Jain; Mr. T.R. Rao, Director Infra; and Mr. Pankaj Agarwal, Vice President, Finance and Accounts. We will begin with the opening remarks from the management followed by a Q&A session. Thank you, and over to you, sir. Yogesh Jain: Good afternoon, everyone. On behalf of PNC Infratech Limited, I extend a very warm welcome to everyone for joining us today on this call. Today, I have with me Mr. T. R. Rao, Director (Infra), Mr. Pankaj Agarwal, Vice President, Finance and Accounts and Strategic Growth Advisors - our Investor Relations Advisors. The financial results and investor presentation have been uploaded on the Stock Exchanges and the Company’s website for your reference. I would first like to share the key developments in the industry, followed by key operational updates of the Company and highlights of financial performance during the quarter and half year ended 30th September 2026, post which, we will be happy to answer your questions. ✓ The highways sector started showing signs of recovery in Q2 of FY27 after significant slowing down in project awarding activity persisted over the past two years. ✓ During Q2 of FY27, NHAI awarded highway projects of approximately 230 route kilometers, compared to 107 route kilometers awarded in Q1 of FY27. ✓ Out of the 54 projects identified by NHAI for awarding during the remaining period of FY27, 19 projects have received approval, while another 17 have been appraised and balance projects are expected to receive approvals shortly. ✓ It is expected that the pace of awarding would further improve going forward, supported by healthy pipeline of projects. ✓ As the government is considering development of approximately 51,000 kilometers of high-speed corridors across the country over the next decade, a large number of new business opportunities are expected to emerge for highway developers. ✓ Apart from highway sector, significant opportunities are emerging across other sectors. ✓ Continued Government focus on railways, metro rail, freight corridors, power transmission, renewable energy & storage, mining, water resources development Page 2 of 20 PNC Infratech Limited October 29, 2026 including drinking water supply and urban development, provides sustained growth opportunities for well-established infra companies. ✓ Railway sector continues to offer a robust pipeline of new projects, supported by the government's focus on capacity expansion, freight connectivity and logistics efficiency. ✓ The government has already identified 514 new railway infrastructure projects spanning approximately 40,000 kilometers, with a total estimated investment of over ₹8.0 lakh crore under the National Rail Plan and Vision 2030, underscoring significant, large-scale opportunities in the sector. ✓ The proposed HAM-based model for new railway projects, built on the success of highway development, is also expected to create expanded opportunities for established highway infrastructure players. ✓ Driven by India’s rapid solar expansion, which reached over 170 GW capacity as of September 2026 following over 20 GW addition in H1 FY27, the surging demand for complementary transmission networks and battery energy storage systems is unlocking significant medium to long-term investment opportunities across the renewable ecosystem. ✓ The projected capital expenditure of ₹6.0 lakh crore over the next five years in power transmission sector is aimed at evacuating over 900 GW of non-fossil capacity is expected to provide robust opportunities in both short and long terms for infra developers. ✓ While highways will continue to remain our core focus sector, we are actively expanding into other core sectors to build a broader, more resilient order book that supports long-term sustainable growth. ✓ Rising crude oil prices on account of the West Asia conflict have increased costs for key inputs including diesel and bitumen, straining procurement, transport, construction, and equipment operations severely. ✓ Though MoRTH, NHAI and AAI have extended the monthly price-adjustment escalation mechanism for eligible EPC and HAM projects through December 31, 2026, the actual impact of financial mitigation is effective only to a limited extent. ✓ Consequently, persistent input cost inflation and partial escalation coverage continue to exert pressure on the operating margins of infrastructure players. Now coming to the recent updates on the company: ✓ On October 12, 2026, the Hon’ble Delhi High Court granted a stay on the effect of the debarment orders issued by the NHAI against both the Company and the Concessionaire, Awadh Expressway Pvt Ltd. Accordingly, the Company is in a position to submit bids to all the government authorities including NHAI, MoRTH and NHIDCL. ✓ In July 2026, Company received the Letter of Award from the Airports Authority of India for EPC work of Pantnagar Airport in Uttarakhand. ✓ The contract va [Showing first 8,000 characters — download PDF for full document]