Construction engineering company PNC Infratech Ltd on Tuesday (May 5) said it has accepted a settlement offer of ₹234.72 crore from the National Highways Authority of India (NHAI) under the Vivad-se-Vishwas III (Contractual Disputes) scheme in connection with an arbitration award related to the Agra bypass project.
The arbitration award in favour of the company was published on May 17, 2025, for ₹485.27 crore in relation to the EPC project ‘Construction of Balance work of new four lane Agra Bypass in the state of Uttar Pradesh (Contract Package NS-I/UP-1A).’
Following the Ministry of Road Transport and Highways’ office memorandum dated February 13, 2026, introducing the Vivad-se-Vishwas III scheme for one-time settlement of contractual disputes, NHAI made an offer to the company on May 5, 2026.
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The offer amounted to ₹234.72 crore, which includes 45% of the arbitration award along with 9% per annum simple interest calculated up to April 30, 2026. The company also becomes eligible for additional interest for five days from May 1, 2026, to May 5, 2026, at 9% per annum.
PNC Infratech said it accepted the offer on May 5, 2026. The company noted that the settlement will be formalised through an agreement between NHAI and PNC Infratech, and payment will be made within 30 days of signing the agreement.
The arbitration award was issued in favour of PNC Infratech against NHAI in connection with the EPC project executed under the Agra bypass contract package.
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The company said the expected financial implication is ₹234.72 crore plus interest for five days, amounting to approximately ₹0.27 crore, to be received from NHAI.
Shares of PNC Infratech Ltd ended at ₹215.50, up by ₹0.35, or 0.16%, on the BSE today, May 5.
