PNC Infratech Limited has been declared the L1 (lowest) bidder for NHAI project of six laning Chitradurga - Davanagere including Chitradurga bypass, design chainage km 0.000 to km 20.700 and km 208.000 to km 260.000 of NH 48 (Old NH-4) in the state of Karnataka under NHDP V, to be executed on Hybrid Annuity Mode for a bid project cost of INR 14340 million. Four firms participated in the bidding and the price bids were opened on Monday, March 6, 2017, with PNC’s bid being the lowest (L1). This is the second hybrid annuity project won by PNC having construction period of 2 ½ years and operation period of 15 years.