KNR Constructions jumped 4.92% to Rs 318.55 after the company received letter of acceptance (LoA) for a road project in Hyderabad, Telangana.
The company is in receipt of letter of acceptance for Hyderabad Growth Corridor Limited (HGCL) for widening of existing service roads in Hyderabad, in the state of Telangana. The contract is worth Rs 312.79 crore. The project is to be completed within a period of 15 months from the date of signing of agreement.
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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