KNR Constructions Ltd Summary

KNR Constructions Limited was incorporated on July 11, 1995 and received its certificate of commencement of business on August 9, 1995. The company is engaged in infrastructure sector and is undertaking Turnkey EPC contracts and BOT & HAM projects on public-private partnership basis, group activities are primarily in the construction of roads, bridges, flyovers and irrigation projects. The Company has a portfolio of 10 projects of which 6 HAM projects worth Rs 65,312 million (BPC), two BOT toll projects and two annuity projects (with 40% stake). The 2 BOT toll and 2 annuity projects are already operational, financial closure for 4 HAM Projects have been achieved and project work was started in 3 HAM projects with appointed declared by NHAI. In 1997, the Company has acquired at their book values the assets and liabilities of partnership business of M/s K Narasimha Reddi & Co. (the firm) for a total consideration of Rs.3.19 Crores w.e.f. April 1, 1997. At the time of acquisition, the firm was engaged in the business of undertaking civil and mechanical contracts work. The firm was constituted in the year 1979 and was re-constituted on several occasions. Over a period of time the company has gained expertise in construction of roads on EPC basis and further diversified into other infrastructure segments like irrigation, water supply and urban water infrastructure management. In the past the company has executed infrastructure projects independently as well as through joint ventures. Currently, most of the road projects were executed with joint venture partner, Patel Engineering Limited. As on June 30, 2007, the company has 24 projects on hand across various states in India covering Uttar Pradesh, Madhya Pradesh, Assam, Andhra Pradesh, Karnataka, and Tamil Nadu. The Company has the ability to bid, execute and implement medium and large size projects across various infrastructure segments. The estimated unexecuted order book position, as at June 30, 2007 was Rs 1,272.98 crores, which is approximately 4 times the operational income of fiscal 2007 on consolidated basis.In FY 2010, Company so far completed over 1900 km of road projects and has an order-book of Rs. 1800 crore, of which 95% comes from highways. It was awarded a Rs. 231 crore order from the National Highway Authority of India (NHAI) in the state of Orissa for completion of work on NH-5.In FY 2011, Company commissioned the Rs. 592 crore annuity project on the Hyderabad-Nagpur highway, which is a 48-km stretch between Islam Nagar and Kadthal NH-7. This was undertaken in partnership with Patel Engineering. It also completed the road, which runs from Devanahalli in Karnataka to the Andhra Pradesh border. It bagged a Rs. 825 crore road project in Karnataka to be executed within 910 days. Company, through its 50:25:25 joint venture with JKM Infra Projects Pvt. Ltd. and Kamala Constructions, has been awarded an order worth Rs. 225.27 crore by Government of Bihar, Water Resources Department for extension, renovation and modernisation of the Eastern Kosi Canal System in the State of Bihar.In the month of June, 2011, Company received a contract worth 145.89 crore for the Pichhore - Chanderi - Mungawali - Onder - Kurwai Road Project in Bhopal. The project was given under the Madhya Pradesh State Road Project-III. It completed the Bijapur-Hungund toll road of National Highways Authority of India (NHAI) nearly 11 months ahead of schedule. The four laning of 97.22 kilometres of road project, valued at 905.5 crore, was completed in 582 days as against the scheduled duration of 910 days. It signed a Public Private Partnership in October 2011, for the two laning of Muzaffarpur- Barauni Section of NH-28 in Bihar, assigned under the Design, Build, Finance, Operate and Transfer (DBFOT) Toll basis under the National Highway Development Project Phase IV. During December 2011, orders aggregating an amount over 390 crore were received by the Company from the Government of Karnataka. It also bagged an order worth Rs. 620 crore from GMR Projects Private Ltd. in Rajasthan and Gujarat. It received contracts from GVK, worth 675 crore, for the Designing, Engineering, Procurement and Construction of 4 laning of road that stretches of Shivpuri-Dewas Section of NH-3 in Madhya Pradesh.The Company bagged an EPC order worth of Rs. 790.50 Crores from KNR Walayar Tollways Private Limited in FY 2014-15. It also bagged a Rs. 180 Crores worth road project from the Government of Arunachal Pradesh towards building the two lane stretch from Gobuk to Sihjon Nallah via Mariyang, a net length 49.275 Km.In FY 2015-16, the project of four laning of Walayar-Vadakkancherry section in Kerala was completed before time in 880 days instead of 910 days, i.e. one month ahead of scheduled date of completion. The Final Completion Certificate for 100% of Project length was received on 31st October 2015. The Project received the prestigious award of Best Project Completed before Schedule Time in India from the NHAI. Toll collection commenced on this route from May 18, 2015. Out of the 4,171 km in Roads and Highway sector, 3,070 km were EPC projects, 803 km BOT projects and 351 km Hybrid Annuity projects. As on 31st March, 2016, the order book stood at about Rs. 34,635 million comprising of Rs. 34,068 million in road sector and Rs. 567 mn in irrigation projects. two laning of Muzaffarpur - Barauni Project commenced in Bihar commenced on June 3, 2016 with 75% of the project length and toll operation was from June 9, 2016. During the year 2015-16, KNR - TBCPL - JV and SEL - KNR JVs were formed with the Company.During 2018, 778 lane kms of BOT Projects were executed in Telangana, Karnataka, Kerala & Bihar. The Company also received LOA for 4 HAM projects of Rs. 44,667 million (BPC) from NHAI, and LOA for 1 HAM project of Rs. 11,445 million (BPC) from Karnataka State.During FY 2021, the Company completed 2 BOT Toll (NHAI) projects and 2 annuity (NHAI) projects. It bagged two more projects in JV to the tune of Rs. 23,300 million. It received LOA for two HAM projects of NHAI in Kerala and one NHAI EPC road project in Karnataka in the last quarter of financial year 2020-21. During the year 2021-22, the Company issued and allotted 14,06,17,300 equity shares by way of Bonus Issue in the ratio of 1:1 on February 5, 2021 from the date of allotment.