KNR Constructions announced that its wholly owned subsidiary company, KNR Palani Infra has received the appointed date of 05 October 2020 from National Highways Authority of India. The project details are as follows:

Four Laning of Oddanchatram - Madathukulam section of NH - 209(New NH-83) (Design ch. Km 29.000 to km. 74.380) under BharaturalaPariyoina Phase - I under the category of Residual Works of NHDPon HAM in the State of Tamil Nadu. The bid project cost is Rs 920 crore.

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KNR Constructions has transferred 100% stake of its subsidiary company i.e. KNR Walayar Tollways (SPV) to Cube Highways and Infrastructure II.

The enterprise value of the assets for this transaction is Rs 511.78 crore excluding claims receivable from NHAI and other governmental instrumentalities, which would be passed through to the Company as and when realised.

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KNR Constructions Ltd fell 2.09% today to trade at Rs 252.5. The S&P BSE India Infrastructure index is down 0.29% to quote at 142.54. The index is up 1.79 % over last one month. Among the other constituents of the index, Dilip Buildcon Ltd decreased 0.8% and Power Grid Corporation of India Ltd lost 0.68% on the day. The S&P BSE India Infrastructure index went down 19.74 % over last one year compared to the 4.81% surge in benchmark SENSEX.

KNR Constructions Ltd has added 20.44% over last one month compared to 1.79% gain in S&P BSE India Infrastructure index and 1.35% rise in the SENSEX. On the BSE, 882 shares were traded in the counter so far compared with average daily volumes of 26549 shares in the past one month. The stock hit a record high of Rs 311.05 on 30 Jan 2020. The stock hit a 52-week low of Rs 171.65 on 26 Mar 2020.

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The order is for construction of elevated highway along Avinashi Road in Coimbatore City from Goldwins to Upplipalayam. The construction is to be completed within two years.

Shares of KNR Constructions have risen about 8% in four days. The company's consolidated net profit rose 8.8% to Rs 46.68 crore on 1.5% fall in revenue from operations to Rs 522.52 crore in Q1 FY21 over Q1 FY20.

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

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