KNR Constructions wins order worth Rs 1,100 crore; stock trades flat

KNR Constructions announced today that it has received a letter of acceptance for four-laning of Bangalore-Mangalore section from 270+270 km (Periya Shanti) to 318 km+ 755 km (Bantwal) including a six-lane flyover in Kalladka town (311 km-314 km) on NH-75 on an EPC basis in the state of Karnataka.  

The project, worth Rs 1,100 crore (approximately), is to be completed within a period of 24 months from the appointed date.  

Meanwhile, the company’s stock inched higher by 2.30 per cent soon after the announcement.  

Besides, the company reported a net profit of Rs 91.02 crore in Q3FY21, an increase of 82.18 per cent. It had reported a profit of Rs 49.96 crore in Q3FY20. The company reported net sales of Rs 734.72 crore for Q3FY21, an increase of 21.69 per cent as against the net sales of Rs 603.75 crore for Q3FY20.  

According to BSE data, the stock traded at a P/E multiple of 24.63 and a price-to-book ratio of 3.37. The stock has a 52-week high and a 52-week low of Rs 242.10 and Rs 85.83, respectively.  

At 3.02 pm on Monday, the stock of KNR Constructions Ltd was trading at Rs 205.50, up by 0.12 per cent on BSE.