KNR Constructions rose 3.21% to Rs 213.60 after the company said it received letter of acceptance for a road project in Kerala.
The project involves six laning Ramanattukara Junction to start of Valanchery bypass section of NH-66 on Hybrid Annuity Mode under Bharatmala Pariyojana in Kerala. The project bid cost is Rs 2,367 crore and company bid price is Rs 2,116 crore.
The project completion period is 30 months and operation period 15 years from the CoD (commercial operations date). The announcement was made after market hours yesterday.
KNR Constructions provides engineering, procurement, and construction (EPC) services, primarily for the roads and highways segment.
The company's consolidated net profit zoomed 87.99% to Rs 97.55 crore in Q3 FY21 from Rs 51.89 crore in Q3 FY20. Net sales during the quarter rose 21.69% YoY to Rs 734.71 crore.
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