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The share of roads segment in the total infrastructure projects awarded by the government improved to 29.2% in the first seven months of 2021 from 15.3% in the year-ago period. This reflects the governments increasing thrust on road development. ....
Broker s call: KNR Constructions (Buy) | Updated on CMP: ₹233.90 KNR Constructions has reported strong earnings which beat estimates driven by strong execution. Adjusted PAT grew 43.3 per cent y-o-y to ₹96.30 crore (estimate: ₹77.6 crore) and reported PAT after prior period taxes grew 14.5 per cent y-o-y to ₹77 crore. Order backlog including new HAM projects is robust at ₹11,400 crore (4.2x TTM revenue) and gives strong growth visibility. Management guidance on FY22 execution and margins was cautious given the disruption caused by Covid second wave and higher commodity prices. We moderate our FY22 revenue estimate to ₹3,030 crore (₹3,140 crore earlier; as against potential to execute ₹3,250 crore). We factor EBITDA margin to decline to 18 per cent (18.5 per cent earlier; FY21: 19.8 per cent) factoring margin pressure on fixed price EPC contracts from HAM SPVs (25 per cent of Mar-21 OB). ....
ICICI Direct has a buy call on KNR Constructions with a target price of Rs 270 for a time frame of 12 months. The current market price of KNR Constructions is Rs 233.35. ....
KNR Constructions consolidated net profit rises 87.99% in the December 2020 quarter business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
COIMBATORE: Police on Monday arrested six men for stealing construction material on Trichy Road in the city. According to the Ramanthapuram police, the six accused were identified as Kabarkhan, 33, from Kottaipudur; A Sharukhan, 23, from Podanur; M Abdul Kadar alias Rohit, 28, from Kottaipudur; B Peer Mohammad, 23, from Ukkadam; S Mohammed Thariq, 20, from Kottaimedu; and M Balamurugan, 20, from Pullukadu near Ukkadam. They were arrested based on a complaint filed by the public relations officer of KNR Constructions Limited, A Raja, on Sunday. In his complaint, Raja said his company was involved in constructing a flyover on Trichy Road. He said construction materials worth Rs 40,000 were stolen from the construction site. ....