KNR Constructions ends higher on securing Rs313cr contract in Telangana

The project is to be completed within a period of 15 months from the date of signing of the agreement, the company said.

Sep 14, 2021 05:09 IST India Infoline News Service

KNR Constructions said in the filing that the company is in receipt of the letter of acceptance for Hyderabad Growth Corridor Limited (HGCL) for widening of existing service roads in Hyderabad, in the state of Telangana.

The contract is worth Rs312.79cr. The project is to be completed within a period of 15 months from the date of signing of the agreement, the company said.

The stock at Rs311.95 up by Rs8.35 or 2.75% from its previous closing of Rs303.60 on the BSE. The scrip opened at Rs325 and has touched a high and low of Rs325 and Rs307.45 respectively.

In the filing the company said, “We herewith intimate to the Exchange that the Company is in receipt of Letter of Acceptance for HGCL - Widening of Existing Service roads from Nanakramguda to TSPA and Narsingi to Kollur and BT Overlay of Bitumen pavement from Gachibowli to Shamshabad of Outer Ring Road, Hyderabad, in the state of Telangana, worth Rs312,79,82,713.11/- (Rupees Three Hundred and Twelve Crores Seventy-Nine Lakhs Eight Two Thousand Seven Hundred and Thirteen and Eleven Paisa only) excluding GST on Bill of Quantities basis. The said project is to be completed within a period of 15 months from the date of signing of Agreement.”

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