KNR Construction Gets Rs 328-Crore Irrigation Order In Telangana
The contract period is 24 months, plus defect liability period of two years, according to the filing.
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KNR Construction Ltd. has received a Letter of Acceptance for an irrigation project in Telangana of Rs 327.89 crore, it said in an exchange filing Saturday.
The order is for Sita Rama Lift Irrigation Project – Distributary package No. 6. It will involve earth work excavation and forming embankment, including construction of structures, lining of canals for the distributaries D-1 to D-15 of Sathupally Main Canal and D-16 to D-35 of NTR Flood Flow Canal.
The mode of payment is item rate contract. The contract period is 24 months, plus defect liability period of two years, according to the filing.
Pursuant to 'KNRCL Code of Conduct for Prevention of Insider Trading', the trading window for dealing in securities of the company is already closed to all the designated persons and connected persons as defined in the code of conduct, it said.
In October 2024, the company had received Rs 317.69 crore as part of an agreement made with the National Highways Authority of India or NHAI on Sept. 30, 2024. The payment was part of the agreement signed between the company's special purpose vehicle — KNR Muzaffarpur Barauni Tollway Pvt. and NHAI, according to an exchange filing. The total amount garnered included Rs 175.83 crore owed to the infrastructure company and an interest of Rs 141.86 crore.
On Friday, shares of KNR Construction closed 0.14% higher at Rs 346.30 per share, compared to a 0.76% decline in the NSE Nifty 50.
