KNR Constructions: SPV receives appointment date for project

KNR Construction informed the bourses that its subsidiary KNR Srirangam Infra Private has received declaration of appointed date from NHAI for a road project in Tamil Nadu.

The company's Special Purpose Vehicle (SPV) and wholly-owned subsidiary KNR Srirangam Infra Private Limited received the appointed date by National Highways Authority of India (NHAI) for 4 Laning of Trichy to Kallagam section of National Highway 227, under Bharatmala Pariyojana (Residual project under NHDP) in Tamil Nadu.

The bid cost of the project is Rs. 10,206.00 million. The construction period of the project is 2 years, while concession period is 17 years and date of financial closure is September 5, 2019.

KNR Construction has a portfolio of 6 HAM projects worth of Rs. 65,312.1 million in terms of bid project cost (BPC). Recently, in March the company won a Rs. 920 crores BPC project from NHAI, also in Tamil Nadu.

As of March, 31, 2019, the company reported a EPC orderbook of Rs. 40,156 million, which comprised Rs. 38,421 million in roads sector, Rs. 1,721 million in irrigation and Rs. 14 million in other sectors.

Meanwhile, on Tuesday, the stock of KNR Construction closed at Rs. 284.45 per share, down by 0.25 per cent on BSE.