KNR Constructions rose 1.94% to Rs 318 after the company received a letter of acceptance (LoA) for the development of six lane Chittor-Thatchur Highway on Hybrid Annuity Mode in the state of Andhra Pradesh and Tamil Nadu.
The bid project cost stood at Rs 1,041.50 crore and is expected to be completed within a period of 24 months (i.e. 2 years) (with an operation period of 15 years from commercial operation date (COD)).
KNR Constructions' consolidated net profit surged 145.1% to Rs 102.81 crore on a 54.5% rise in net sales to Rs 807.09 crore in Q1 FY22 over Q1 FY21.
KNR Constructions provides engineering, procurement, and construction (EPC) services, primarily for the roads and highways segment.
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