Introduction:
Leading construction firm has secured Letters of Acceptance for two major projects under the Sitarama Lift Irrigation Project in Telangana. These include earthwork excavation, embankment formation, and canal lining, valued at ₹327.89 crore and ₹198.28 crore respectively.
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Share price movement of KNR Constructions:
On January 6, 2025, KNR Constructions Ltd. opened at ₹355.40, up 2.54% from its previous close of ₹346.65. The stock reached a high of ₹356.70 and a low of ₹337.00. By 11:18 AM, it traded at ₹338.75, down 2.28%, with a market cap of ₹9,526.82 crore.
KNR Constructions Secures Major Irrigation Contracts:
KNR Constructions Limited has received a Letter of Acceptance (LOA) for two significant projects under the Sitarama Lift Irrigation Project (SRLIP) in Telangana. The first project, Distributary Package No. 6, involves earthwork excavation, embankment formation, and canal lining for D-1 to D-35 distributaries.
The SRLIP package is valued at ₹327.89 crore excluding GST. The contract includes a 24-month duration, followed by a 2-year defect liability period. KNRCL’s announcement assures that the trading window for dealing in the company’s securities is closed for designated persons under its Insider Trading Code.
The second project, Package No. 13 for the Paleru Link Canal, has a bid price of ₹198.28 crore, also excluding GST. This project covers similar works such as embankment formation and construction of structures. The joint venture (KNR-ACPL-SVK) will undertake the project, expected to last for 24 months.
Recent news on KNR Constructions:
As of November 13, 2024, KNR Constructions shares surged 14.31% to ₹324.65 after reporting impressive Q2 results. Revenue rose 87% YoY to ₹1,944.86 crore, while PAT increased 306% to ₹580 crore, reflecting strong growth and profitability.
Stock performance of KNR Constructions for Period of 1 week, 6 months and 1 year:
Over the past week, KNR Constructions Ltd. has seen a 1.54% return. However, its performance over the last 6 months has been down by 6.62%. On a positive note, the stock has gained 30.6% over the past year.
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Shareholding pattern of KNR Constructions:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 48.80% | 48.80% | 51.10% |
| FII | 6.70% | 8.20% | 7.10% |
| DII | 30.50% | 30.80% | 31% |
| Public | 14% | 12% | 11.30% |
About KNR Constructions:
KNR Constructions Limited (NSE: KNRCON) was incorporated in 1995 and is a leading infrastructure player, specializing in highways, flyovers, bridges, and irrigation. It operates a portfolio of 12 projects, including HAM, BOT, and annuity models across various states.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
