KNR Constructions stock rallies 7% on robust Q4 results

So far this year, KNR Constructions stock has risen over 14 percent, beating Nifty's returns of 3.8 percent during this period.

Shares of KNR Constructions jumped over 7 percent on May 30, a day after the company reported stellar earnings for the quarter ended March 2024.

KNR Constructions' net profit surged 140 percent year-on-year to Rs 353 crore and net sales rose 13.54 percent YoY to Rs 1,414 crore during the quarter under review.

For the full fiscal (FY24), the infrastructure development company's net profit rose 69.73 percent YoY to Rs 777.40 crore and sales rose 9.04 percent YoY to Rs 4,429.49 crore.

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During the year, the company received a Letter of Award (LoA) for Water supply projects in 26 ULBs and Sewerage Projects in 04 ULBs under AMRUT 2.0 under the Jurisdiction of (Nalgonda and Khammam PH Divisions) in Package – 2 on March 12, 2024. The cost of the project is estimated at around Rs 1,104 crore.

Additionally, part of the Bengaluru-Vijayawada economic corridor on Hybrid Annuity Model (HAM) Mode under Bharatmala Pariyojana Phase-1 in the state of Andhra Pradesh (Package 13) received appointed date as February 10.

KNR Constructions provides Engineering, Procurement and Construction (EPC) services. Its major projects include roads and highways. The company has a portfolio of several Build-Operate-Transfer (BOT)/HAM projects.

It currently has 668 lane km projects in Telangana, Karnataka & Bihar; 2 annuity based projects, 1 toll based project and 8 HAM based projects, and 8 HAM based projects with total Bid Project cost of Rs 9,618.8 crore

At 10:25 am, KNR Constructions shares were trading over 5 percent higher at Rs 295.80 apiece on the National Stock Exchange (NSE). So far this year, the stock has risen over 14 percent, beating Nifty's returns of 3.8 percent during this period.

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