The contractor, identified as Anil Kumar Gouda of Kaindi village, was on his way here with a friend on a motorbike when at least six motorcycle-borne persons allegedly detained them.
Though the attackers allowed Gouda's friend go, they stoned him to death on the secluded road before decamping, the police said.
Previous enmity might be the cause of the incident, the police suspected as there had been an attempt on Gouda's life in October last year when he had sustained bullet injuries but survived.