KNR Constructions gains after JV bags Rs 4,800-cr coal mining contract in Jharkhand

KNR Constructions rose 1.36% to Rs 234 after the company announced that its joint venture KNRCL-HCPL has received a letter of acceptance worth Rs 4,800.57 crore for a major coal mining project in Jharkhand.

The contract, titled short-term contract for development and operation of Banhardih coal mining block, was awarded by Patratu Vidyut Utpadan Nigam (PVUNL)a joint venture between NTPC and Jharkhand Bijli Vitran Nigam (JBVNL).

The project has been awarded to the joint venture KNRCL-HCPL (JV), in which KNR Constructions holds a 74% stake and Harsha Constructions Pvt Ltd holds 26%.

The contract, valued at Rs 4,800.57 crore, is set to be executed over five operational years, following an initial development period of 360 days. The Banhardih coal block has estimated reserves of 34.50 million tonnes.

KNR Constructions, incorporated in 1995, is a Hyderabad-based infrastructure project development company providing EPC services in segments such as roads and highways, irrigation and urban water infrastructure management.

The company's consolidated net profit tumbled 60.58% to Rs 139.24 crore on 31.03% decline in revenue from operations in Q4 FY25 over Q4 FY24.

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