PNC Infratech Limited (PNCINFRA) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of PNC Infratech Limited ₹414, price ₹138, upside +200.0%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range ₹129.80 – ₹557.44 · fair‑value band ₹299.77 – ₹538.83 · the ₹138.16 price screens below the ₹414.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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PNC Infratech Limited, together with its subsidiaries, engages in the construction, development, operation, and management of infrastructure projects in India.
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PNC Infratech Limited, together with its subsidiaries, engages in the construction, development, operation, and management of infrastructure projects in India. The company undertakes various infrastructure projects, including roads, highways, bridges, flyovers, power transmission lines, airport runways and pavements, rural drinking water supply, irrigation, industrial area development, rail freight corridors, and other infrastructure projects. It also provides end-to-end infrastructure implementation solutions, such as engineering, procurement, and construction services on a fixed-sum turnkey basis, as well as on an item rate basis; and executes and implements projects on a design-build-finance-operate-transfer, operate-maintain-transfer, hybrid annuity model, and other public-private partnership formats. The company was formerly known as PNC Construction Company Limited and changed its name to PNC Infratech Limited in August 2007. PNC Infratech Limited was founded in 1989 and is headquartered in Agra, India.
Stock analysis
PNC Infratech Limited (PNCINFRA) currently trades at ₹138.16, while our model-based Fair Value estimate is ₹414.48, implying the stock looks roughly 66.7% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ₹2,324 per share, and 23 of the 25 models we run sit above the ₹138.16 price.
Bear case: the Asset-Based group reads lowest at ₹177.94, and 2 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹299.77 (bear) to ₹538.83 (bull), the price of ₹138.16 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
PNC Infratech Limited reported revenue of ₹53.7B in FY2026 versus ₹70.2B in FY2022, a compound −6.5%/yr. Reported net income was ₹8.3B in FY2026, compounding +9.4%/yr from FY2022.
Key figures
Market cap ₹35.4B (≈ $368M) · P/E ratio 4.8 · P/S ratio 0.75 · EPS (TTM) ₹28.55 · Dividend yield 0.4% · Net margin 15.5% · Return on equity 13.0% · Return on assets (EBIT) 13.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic.
The share trades about 53% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −34% fair-value upside, at 200%, PNCINFRA screens cheaper than that median.
Fair Value models
Bear ₹299.77Fair Value ₹414.48Bull ₹538.83
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹14.24 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−20.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−12.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.8%
Start year 2021 (pandemic). Over 10 years: +8.6% a year
Revenue growth 16 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.2%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+9.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.6%
Dividend (yield on the price)0.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.8.6% vs 21.5%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.19% → 19%
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 779 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Top 25%
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (TTM)13.0% · Above median
Return on assets4.0% · Above median
Net margin (TTM)13.0% · Top 25%
Operating margin (TTM)28.7% · Top 25%
Growth and dividend
Revenue growth18.7% · Above median
Dividend yield (TTM)0.4% · Bottom 25%
Balance sheet
Debt / equity0.70× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Is PNC Infratech Limited (PNCINFRA) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of ₹414.48 versus a price of ₹138.16, about +200% upside (undervalued).
What is the fair value of PNCINFRA?
Our model-based fair value for PNC Infratech Limited is ₹414.48 (as of Oct 2, 2026), built from audited fundamentals. The current price: ₹138.16.
What is the quality score of PNCINFRA?
PNC Infratech Limited has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for PNC Infratech Limited (PNCINFRA)?
Our model-based price target is the fair value of ₹414.48 (as of Oct 2, 2026) from 25 valuation models. Cautious scenario ₹299.77, optimistic scenario ₹538.83. It is a calculation from audited fundamentals, not an analyst target.
What is the PNC Infratech Limited stock forecast for 2026?
Our models put fair value at ₹414.48, about +200% upside versus a price of ₹138.16 (undervalued). Cautious scenario ₹299.77, optimistic scenario ₹538.83. The calculation is refreshed regularly with new filings.
What is the revenue of PNC Infratech Limited (PNCINFRA)?
PNC Infratech Limited reported trailing-twelve-month revenue of about ₹56.3B (latest available figure, as of Oct 2, 2026).
Does PNC Infratech Limited pay a dividend?
PNC Infratech Limited currently shows a dividend yield of about 0.43% relative to its recent price (as of Oct 2, 2026).
What is the intrinsic value of PNC Infratech Limited (PNCINFRA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PNC Infratech Limited it is ₹414.48 per share (as of Oct 2, 2026), against a price of ₹138.16. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is PNC Infratech Limited stock overvalued or undervalued in 2026?
As of Oct 2, 2026, PNCINFRA trades below its calculated fair value: price ₹138.16, fair value ₹414.48, a gap of about +200% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PNCINFRA?
No. The price is what the market pays today (₹138.16); the fair value is what the company's own numbers justify (₹414.48). For PNC Infratech Limited the two are ₹276.32 per share apart. That gap is exactly why we show both numbers side by side.
How much is PNC Infratech Limited worth?
The market values PNC Infratech Limited at about ₹35.4B (market capitalisation, as of Oct 2, 2026). Per share that is ₹138.16; our models calculate a fair value of ₹414.48 per share.
What do the bullish and bearish scenarios say about PNCINFRA?
Our models span a range for PNC Infratech Limited: cautious scenario ₹299.77, base ₹414.48, optimistic ₹538.83 per share (as of Oct 2, 2026, price ₹138.16). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PNCINFRA?
PNC Infratech Limited trades at a price-to-earnings ratio of 4.8 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹414.48 is built from several models across several years. Other multiples: P/B 0.5, P/S 0.6, EV/EBITDA 4.8.
How solid is the balance sheet of PNC Infratech Limited (PNCINFRA)?
Balance-sheet figures for PNC Infratech Limited (as of Oct 2, 2026): return on equity 13.0%, debt of 0.70 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is PNCINFRA from its 52-week high?
PNC Infratech Limited trades at ₹138.16, about 53% below its 52-week high of ₹295.25 and 6% above the low of ₹129.80 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹414.48 is for.
Which stocks are comparable to PNC Infratech Limited?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is PNC Infratech Limited stock attractive at the current price?
The data as of Oct 2, 2026: price ₹138.16, calculated fair value ₹414.48 (+200%), Quality Score 60/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PNCINFRA calculated?
We run PNC Infratech Limited through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹414.48, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. PNC Infratech Limited currently trades 67 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of PNC Infratech Limited (PNCINFRA)?
The closing price on Oct 1, 2026 was ₹138.16. Our model-based fair value is ₹414.48, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PNC Infratech Limited right now?
The price is below even our cautious bear case (₹299.77). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of PNC Infratech Limited
How large is the market capitalisation of PNC Infratech Limited (PNCINFRA)?
The market capitalisation of PNC Infratech Limited is ₹35.4B (≈ $368M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of PNC Infratech Limited (PNCINFRA)?
The price-to-sales ratio of PNC Infratech Limited is 0.75 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of PNC Infratech Limited (PNCINFRA)?
Earnings per share at PNC Infratech Limited are ₹28.55 (price ÷ EPS = P/E 4.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of PNC Infratech Limited (PNCINFRA)?
The dividend yield of PNC Infratech Limited is 0.4% (payout 2.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of PNC Infratech Limited (PNCINFRA)?
The net margin of PNC Infratech Limited is 15.5% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of PNC Infratech Limited (PNCINFRA)?
The return on equity (ROE) of PNC Infratech Limited is 13.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of PNC Infratech Limited (PNCINFRA)?
On an EBIT basis the return on assets of PNC Infratech Limited is 13.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of PNC Infratech Limited (PNCINFRA)?
The operating margin of PNC Infratech Limited is 28.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PNC Infratech Limited (PNCINFRA)?
Revenue at PNC Infratech Limited is growing +18.7% versus a year earlier (3y avg −12.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at PNC Infratech Limited (PNCINFRA)?
Earnings per share at PNC Infratech Limited are growing −23.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PNC Infratech Limited (PNCINFRA) generate?
The free cash flow of PNC Infratech Limited is ₹37.2B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does PNC Infratech Limited (PNCINFRA) carry?
The net debt of PNC Infratech Limited is ₹29.3B (fiscal year 2026, ≈ 0.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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