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PNCINFRA Consensus Forecast

No. of reports in last year
3
No. of analysts
3
Average Consensus Forecast
302
Consensus Potential
-11.83%

PNCINFRA Price Target Potential

BrokerageTargetPotential
Geojit Financial Services3394.75%
Nirmal Bang3487.21%
Prabhudas Lilladher219-47.44%

PNCINFRA Targets in FrontPage Forums

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PNCINFRA Ratings

Long term PNCINFRA rating by FrontPage users
5/5 (4 Ratings)

3 PNCINFRA share price target reports by brokerages below. See what is analyst's view on PNCINFRA share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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PNCINFRA Share Price Target

PNCINFRA Share Price Target - Broker Reports - 2021

10-Feb-21
Price @ Call: 264.66
Target: 339
BUY
8-Feb-21
Price @ Call: 265.01
Target: 348
BUY

PNCINFRA Share Price Target - Broker Reports - 2020

3-Nov-20
Price @ Call: 167.8
Target: 219
BUY
2-Jul-20
Price @ Call: 148.75
Target: 182
BUY
PNC Infratech Ltd (PNC) is an Infrastructure construction, development and management company; expertise in execution of projects including highways, bridges, flyovers, airport runways, industrial areas and transmission lines. Revenue grew by 8% YoY despite 10 days of execution impact due to lockdown in Q4FY20. EBITDA margins declined by 55bps to 13.5% due to higher raw material and employee cost. Order book stood healthy at Rs15,629cr (incl. L1 ~Rs7,000cr) which is 3.2x FY20 revenue, provides revenue visibility. Adj. PAT growth was moderate at 3% YoY to Rs76cr due to increase in depreciation and interest costs. Due to near term hindrance on execution we reduce revenue estimate for FY21E/FY22E by 24%/14% respectively. We expect a rebound in earnings from H2FY21 supported by healthy order book. We value standalone EPC business at a P/E of 9x on FY22E EPS and BOT/HAM projects at 0.5xP/B and revise our rating to Buy.
... Read more
30-Jun-20
Price @ Call: 143.2
Target: 185
BUY
The company management has refrained from giving any guidance for FY21 under current uncertain macro environment. But, in our view the company’s robust order backlog, strong execution track record, net cash balance sheet in EPC business and long term growth opportunity in the sector gives comfort for company maintaining growth in financial on a long term basis. We have factored in COVID-19 related challenges impacting near term execution in our EPS estimates and have revised the same for FY21E/F22E by -18.3%/+3.1%, respectively. The EPC business (adjusted for Rs 36 per share value of BOT/HAM) is available at a PE of 8.5x/5.5x based on FY21E/FY22E adjusted EPS of Rs 12.2 (Vs Rs 14.9 earlier)/Rs 18.7 (Vs Rs 18.1 earlier), respectively. We maintain BUY on the stock with revised sum of the parts based target price of Rs 185 (Vs Rs 175 earlier), as we roll forward to March 22E. Key risk to our estimates and recommendation are any further negative impact of COVID-19 on construction of highways, slowdown in road capex, delay in approvals of projects, etc
... Read more
23-Apr-20
Price @ Call: 126.15
Target: 175
BUY
We believe that there is a risk on achieving FY21 guidance due to COVID-19 impacting construction work due to lockdown. We have factored in these risks in our estimates. We have also reduced our estimates for order inflows in FY21E/FY22E to Rs 50 bn/Rs 60 bn (Vs Rs 80 bn/Rs 70 bn earlier), respectively factoring in risk related to any slowdown in awarding of projects. We have cut our earnings estimates for FY20E/FY21E/FY22E by 3.8%/15.3%/11.3%, respectively. PNC has been amongst our top picks in the construction space due to strong balance sheet, execution track record and robust order book. The EPC business (adjusted for Rs 37 per share value of BOT/HAM) is available at a PE of 6.4x/5.8x/4.7x based on FY20E/FY21E/FY22E adjusted EPS of Rs 13.5 (Vs Rs 14 earlier)/Rs 14.9 (Vs Rs 17.6 earlier)/Rs 18.1 (Vs Rs 20.4 earlier), respectively. We maintain BUY on the stock with revised sum of the parts based target price of Rs 175 (Vs Rs 258 earlier). Key risk to our estimates and recommendation are any further negative impact of COVID-19 on construction of highways, slowdown in road capex, delay in approvals of projects, etc.
... Read more
17-Feb-20
Price @ Call: 209.44
Target: 255
BUY
7-Feb-20
Price @ Call: 199.55
Target: 258
BUY
6-Feb-20
Price @ Call: 199.11
Target: 254
BUY
PNCL remains as one of our preferred pick in the road infra space given its 1) healthy order book (Rs87bn as on 3QFY20), 2) stellar execution pace with most projects getting completed within stipulated time (fetching early completion bonus in many projects), 3) stable EBITDA margins (~14%) 4) comfortable debt-equity ratio of 0.2x and 5) ability of internal accruals to meet the incremental equity of ~Rs4.2bn in its HAM portfolio over next two-three years. With strong 9M performance, we have raised our revenue/PAT estimates by 9.3%/28.5% for FY20E; however, we have kept estimates of FY21E/FY22E largely unchanged. On the back of strong execution in the seven under-construction HAM projects and other large ticket-size EPC projects and strong bid pipeline (Rs900bn), we expect PNCL’s revenues to grow at ~25% CAGR over FY19-22E. At CMP, the stock trades at a P/E of 10.9x/11.8x on FY20E/FY21E EPS and is trading at an EV of 7.1x/7.2x FY20E/FY21E EBITDA. We maintain BUY rating on the stock with a TP of Rs264.
... Read more

PNCINFRA Share Price Target - Broker Reports - 2019

25-Nov-19
Price @ Call: 191.93
Target: 223
BUY
Execution will improve in the coming quarters as most of the HAM projects got appointed date. We increase FY20E/21E earnings estimate by 41%/17% respectively due to higher execution and operational efficiency. We value EPC business at a P/E of 11x on FY21E EPS & BOT/HAM projects at 1x P/B and reiterate BUY rating.
... Read more
19-Aug-19
Price @ Call: 203.3
Target: 279
BUY
he company expects appointed date in a remaining HAM project by Nov’19. Considering the robust order book and bid pipeline, we now expect PNC to clock ~41% topline CAGR over FY19-21E. We also expect earnings growth to remain healthy on the back of high margin order book under execution. At the CMP, PNC’s EPC business is trading at 11.9x FY21E P/E. We maintain our BUY rating on the stock for the revised target price of Rs.279 (based on SOTP valuation).
... Read more
16-Aug-19
Price @ Call: 201.12
Target: 251
BUY
We have upgraded FY20E and FY21E EPS by 8-22% based on higher revenue growth estimates and arbitration award/early completion bonus received in completed projects. The EPC business (adjusted for Rs 41 per share value of BOT/HAM) is available at a PE of 13.4x and 9.3x based on FY20E and FY21E revised adjusted EPS of Rs 12.2 and Rs 17.5, respectively. We upgrade our rating on the stock to BUY (from ADD) with revised SOTP based target price of Rs 251 (Vs Rs 226 earlier).
... Read more
16-Aug-19
Price @ Call: 202.55
Target: 255
BUY
PNC remains our top pick in the EPC space given its robust orderbook & with execution started on six of the seven HAM projects. Its prudent WC management & lean balance sheet also reinforces our confidence that PNC is well placed to capture huge opportunities ahead. With a strong ramp up in execution to continue in FY20E, we expect revenue growth at a 27.4% CAGR to | 5,028.1 crore in FY19-21E. Hence, we maintain our BUY rating on the stock with a target price of | 255/share. We value its construction business at | 207/share (at 8x FY21E EV/EBITDA implying 15.2x FY21 EPS).
... Read more
14-Jun-19
Price @ Call: 207.09
Target: 226
ADD
We like PNC Infratech on account of strong execution track record, improved cash flows, strong balance sheet and robust order book which gives high revenue growth visibility. Further, PNC has strong pipeline of projects in roadspace which will support its future order book and leaves scope for earning’supgrade. The EPC business (adjusted for Rs 32 per share value of BOT/HAM) is available at a PE of 12.9x and 10.7x based on FY20E and FY21E EPS of Rs 13.4 and Rs 16.1, respectively. We recommend ADD (Vs Buy earlier) on the stock with unchanged SOTP based target price of Rs 226.
... Read more
30-May-19
Price @ Call: 190.9
Target: 223
BUY
Execution will improve in the coming quarters as most of the HAM projects got appointed date. Further, divestment of Ghaziabad Aligarh BOT project for a cash inflow of Rs300cr along with internal accruals and arbitrations are sufficient for funding current and future projects. We increase FY20E/21E earnings by 15%/21% respectively on account of ramp-up in execution. We value EPC business at a P/E of 13x on FY21E EPS & BOT/HAM projects at 1x P/B and reiterate BUY rating.
... Read more
29-May-19
Price @ Call: 190
Target: 235
BUY
PNC’s robust order book, strong execution capabilities & lean balance sheet along with prudent WC management reinforce our confidence that the company is well placed to capture huge opportunities ahead. With a strong ramp up in execution to continue in FY20E, we expect revenue growth at a 27.4% CAGR to | 5,028.1 crore in FY19-21E. Hence, we maintain our BUY rating on the stock with a target price of | 235/share. We value its construction business at | 198/share (at 8.5x FY20E EV/EBITDA implying 14.8x FY20 EPS) and BOT & HAM projects at Rs 49/share.
... Read more
28-May-19
Price @ Call: 185.15
Target: 226
BUY
We have upgraded FY20E EPS estimates by 20% based on higher revenue growth estimates and introduced estimates for FY21E. The EPC business (adjusted for Rs 32 per share value of BOT/HAM) is available at a PE of 11.4x and 9.5x based on FY20E and FY21E EPS of Rs 13.4 (Vs Rs 10.8) and Rs 16.1, respectively. We maintain our Buy rating on the stock with revised SOTP based target price of Rs 226 (Vs Rs 192 earlier), as we roll forward our valuation to FY21E.
... Read more
18-Feb-19
Price @ Call: 136.73
Target: 170
BUY
PNC’s robust order book, strong execution capabilities and lean balance sheet with better WC management reinforce our confidence on the future prospects of the company. Also, we believe the company is well poised to capture huge opportunities ahead. We expect revenues to grow at a CAGR of 44.8% in FY18-20E given the significant ramp-up in HAM projects execution with receipt of appointed dates for five big-ticket projects. Hence, we maintain our BUY rating on the stock with a target price of rs 170/share. We value its construction business at RS 154/share (at 7x FY20E EV/EBITDA) and BOT & HAM projects at Rs 53/share.
... Read more
18-Feb-19
Price @ Call: 136.73
Target: 192
BUY
We have marginally revised our FY19E and FY20E estimates based on 9MFY19 revenue and margins, capex guidance and debt. The EPC business (adjusted for Rs 30 per share value of BOT) is available at a PE of 11.8x and 9.9x based on FY19E and FY20E revised EPS of Rs 9.0 and Rs 10.8 per share, respectively. We maintain our Buy rating on the stock with revised SOTP based target price of Rs 192 (Vs Rs 197 earlier).
... Read more

PNCINFRA Share Price Target - Broker Reports - 2018

19-Dec-18
Price @ Call: 134.93
Target: 157
BUY
19-Nov-18
Price @ Call: 150.67
Target: 190
BUY
19-Nov-18
Price @ Call: 150.67
Target: 197
BUY
13-Aug-18
Price @ Call: 166.99
Target: 190
BUY
14-Aug-18
Price @ Call: 166.7
Target: 213
BUY
10-Aug-18
Price @ Call: 165.4
Target: 215
BUY
10-Aug-18
Price @ Call: 165
Target: 219
BUY
10-Aug-18
Price @ Call: 165.75
Target: 230
BUY
11-Jun-18
Price @ Call: 174
Target: 250
BUY
8-Jun-18
Price @ Call: 166.05
Target: 197
BUY
12-Mar-18
Price @ Call: 158.92
Target: 199
BUY
26-Feb-18
Price @ Call: 167.45
Target: 193
BUY
16-Feb-18
Price @ Call: 171.88
Target: 208
BUY
16-Feb-18
Price @ Call: 172.9
Target: 205
BUY

PNCINFRA Share Price Target - Broker Reports - 2017

27-Dec-17
Price @ Call: 217.35
Target: 247
ACCUMULATE
22-Aug-17
Price @ Call: 143.7
Target: 168
BUY
21-Aug-17
Price @ Call: 143.7
Target: 155
HOLD
21-Aug-17
Price @ Call: 145.15
Target: 154
ACCUMULATE
29-May-17
Price @ Call: 140
Target: 155
BUY
31-May-17
Price @ Call: 145
Target: 166
BUY
20-Apr-17
Price @ Call: 139
Target: 165
BUY
16-Feb-17
Price @ Call: 103
Target: 130
BUY
17-Feb-17
Price @ Call: 101
Target: 113
BUY
22-Feb-17
Price @ Call: 102
Target: 121
BUY
16-Feb-17
Price @ Call: 103
Target: 142
BUY

PNCINFRA Share Price Target - Broker Reports - 2016

31-May-16
Price @ Call: 114
Target: 147.6
BUY
16-Dec-16
Price @ Call: 106
Target: 127
BUY
14-Dec-16
Price @ Call: 104
Target: 128
BUY
29-Sep-16
Price @ Call: 115.45
Target: 142
BUY
1-Sep-16
Price @ Call: 119.75
Target: 143
BUY
30-Aug-16
Price @ Call: 120.9
Target: 134
ACCUMULATE
29-Aug-16
Price @ Call: 121.45
Target: 140
BUY
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  • PNCINFRA Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3340.63
    Upside Target 2334.82
    Upside Target 1326.63
    Pivot320.82
    Downside Target 1312.63
    Downside Target 2306.82
    Downside Target 3298.63
  • PNCINFRA Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3360.5
    Upside Target 2344.75
    Upside Target 1331.6
    Pivot315.85
    Downside Target 1302.7
    Downside Target 2286.95
    Downside Target 3273.8
  • PNCINFRA Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3370.63
    Upside Target 2334.42
    Upside Target 1311.43
    Pivot275.22
    Downside Target 1252.23
    Downside Target 2216.02
    Downside Target 3193.03
  • PNCINFRA Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3334.82
    Upside Target 2329.47
    Upside Target 1326.16
    Pivot320.82
    Downside Target 1315.47
    Downside Target 2312.16
    Downside Target 3306.82
  • PNCINFRA Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3344.75
    Upside Target 2333.71
    Upside Target 1326.89
    Pivot315.85
    Downside Target 1304.81
    Downside Target 2297.99
    Downside Target 3286.95
  • PNCINFRA Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3334.42
    Upside Target 2311.8
    Upside Target 1297.83
    Pivot275.22
    Downside Target 1252.6
    Downside Target 2238.63
    Downside Target 3216.02
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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