KNR Constructions jumps on Hyderabad project order

KNR Constructions informed the bourses that it has received a work order for around Rs. 165.67 crores from the Chief Engineer (M) Greater Hyderabad Municipal Corporation (GHMC), Hyderabad.

The project is for comprehensive road maintenance plan for maintenance of main road in Khairtabad for 5 years.

KNR Constructions is a multi-domain infrastructure project development company providing (EPC) engineering, procurement and construction services across various fast growing sectors, namely, roads & highways, irrigation and urban water infrastructure management.

Order book remain solid with 3.1x TTM revenue and total outstanding order book increased by 15 per cent YoY and stood at Rs. 6,682 crores on September 30, 2019. The company expects an order inflow of Rs. 1,500 crores in remaining quarters of FY20, mainly from irrigation and highways.

Today, the stock opened at Rs. 228.10 and jumped by 2 per cent and made an intraday high of Rs. 229 on the BSE. At 10:49, the stock was trading at nearly Rs. 227.45 on BSE.