KNR Construction gains on bagging LoA for highway project in Andhra Pradesh

KNR Constructions rose 1.51% to Rs 261.95 after the company received letter of acceptance (LoA) for development of greenfield highway project in Andhra Pradesh.

Order entails "development of six lane access controlled greenfield highway from Marripudi to Somvarappadu of Bengaluru-Vijayawada economic corridor on hybrid annuity mode (HAM) under Bharatmala Pariyojana phase-1 in the state of Andhra Pradesh (package 13)."

The bid cost of project is Rs 665 crore. The completion period of project is 24 months and operation period is 15 years from commercial operation date (COD).

KNR Constructions is a multi domain infrastructure development organization and executes the construction of technically complex and high value projects across segments.

 

The company's consolidated net profit stood at Rs 105.76 crore in Q3 FY23, steeply higher from Rs 49.81 crore in Q3 FY22. Net sales rose 2.4% year on year to Rs 874.93 crore in Q3 FY23.

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