KNR Constructions Ltd. on Saturday, March 28, said it has secured a letter of award from the National Highways Authority of India for a hybrid annuity mode project worth ₹1,734 crore in Telangana.The company said the project is for the construction of four laning of NH-167 from Gudebellur to Mahabubnagar in the Hyderabad-Panaji section, under NH(O) on Hybrid Annuity Mode (HAM) in Telangana. The length of the stretch is 80km.
KNR Constructions reported a weak set of earnings in the third quarter.
Its net profit declined 58.7% to ₹102.8 crore from ₹248.6 crore in the previous year. Its revenue was down 12.4% at ₹743.2 crore from ₹848 crore in the third quarter of the previous fiscal.The company’s EBITDA declined 34.8% to 166.7 crore from ₹256 crore in the previous year. Its EBITDA margin contracted to 22.4% from 30.1% in the year-ago period.
Shares of KNR Constructions ended the previous session 5.9% lower at ₹108.95 apiece. The stock has declined 32.6% this year, so far.
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