KNR Constructions bags Rs. 920 crore HAM project

KNR Constructions informed bourses that it has bagged Hybrid Annuity Project (HAM) with Bid Project Cost of Rs. 920 crore and the first year O&M cost is Rs 3.00 crore for the work of ‘Four Laning of Oddanchatram - Madathukulam section of NH - 209 (New NH-83) (Design ch. Km 29.000 to km. 74.380) under Bharatmala Pariyojna Phase - I under the category of Residual Works of NHDP on HAM in the state of Tamil Nadu.  

The project is awarded by the National Highways Authority of India (NHAI) with a concession period of 17 years, including construction period of 2 years from the appointed date.

As on Q3FY19, the company's overall order book stood at Rs. 5,515.8 crore. This strong order book translates to a book-to-bill of around 2.9x on FY18 revenue which gives good revenue visibility for the next 2-3 years.

With response to this development, the stock of KNR responded positively and surged nearly 6 per cent to touch intra-day high of Rs. 248.70 in the opening session. However, later the stock cooled down and at 11.34 hours, the stock was trading at Rs. 244.7 apiece, up by nearly 4 per cent.

KNR Construction is an infrastructure project development company involved in providing (EPC) engineering, procurement and construction services for roads & highways, irrigation and urban water infrastructure management.