PNC reported significant revenue growth of 118.8% YoY to | 758.9 crore (our expectation: | 662.0 crore) led by strong execution as it received appointed dates for several of its big ticket projects EBITDA margins expanded robustly by 770 bps YoY to 21.2% due to receipt of bonus (| 58 crore) for early completion of Agra Lucknow and price variation of projects (| 6.5 crore). Adjusting for this, EBITDA margin was 13.6%, in line with our estimate of 13.5% PAT grew robustly by 230.9% YoY to | 111.5 crore (our estimate:...