KNR Constructions' subsidiary wins Karnataka road project
04 Jul 2023
2 Min Read
CW Team
The news reported that the shares of KNR Constructions had risen by almost 1.5 percent in early trade on June 30. This was due to an agreement made by its subsidiary, KNR Kaveri Infra, with the National Highways Authority of India (NHAI) for a road project in Karnataka.
KNR Construction stated that KNR Kaveri Infra had signed a concession agreement for the four-laning, with paved shoulder, of the Mysore to Kushal Nagara section on hybrid annuity mode.
During April and May, the road construction sector experienced a slowdown. The NHAI temporarily halted road project awards during this period, which led to no acceptance of Letter of Offers (LOAs), as mentioned in a report by Nuvama Institutional Equities.
However, this situation is not expected to significantly impact the long-term project pipeline, as there was a significant surge in road awards in March. During that month, a total of 4,878 kilometres of work was awarded, with the NHAI granting contracts for 2,627 kilometres. In contrast, the awarding of road projects in April and May was minimal, with only approximately 100 kilometres being awarded by the Ministry of Road Transport and Highways.
Despite the temporary slowdown, analysts maintain a positive outlook on the infrastructure sector. Axis Securities mentioned that the NHAI plans to award multiple projects under the Bharatmala Pariyojana, which is the government's flagship program aimed at constructing highways and expressways. This is expected to drive the momentum of road construction. Axis Securities predicts an increase in awarding activities in FY23, as it is a pre-election year.
Also read:
ADB rejects tenders for seven flyovers in ahmedabad
Pathankot-Mandi highway project gets eco clearance
The news reported that the shares of KNR Constructions had risen by almost 1.5 percent in early trade on June 30. This was due to an agreement made by its subsidiary, KNR Kaveri Infra, with the National Highways Authority of India (NHAI) for a road project in Karnataka.
KNR Construction stated that KNR Kaveri Infra had signed a concession agreement for the four-laning, with paved shoulder, of the Mysore to Kushal Nagara section on hybrid annuity mode.
During April and May, the road construction sector experienced a slowdown. The NHAI temporarily halted road project awards during this period, which led to no acceptance of Letter of Offers (LOAs), as mentioned in a report by Nuvama Institutional Equities.
However, this situation is not expected to significantly impact the long-term project pipeline, as there was a significant surge in road awards in March. During that month, a total of 4,878 kilometres of work was awarded, with the NHAI granting contracts for 2,627 kilometres. In contrast, the awarding of road projects in April and May was minimal, with only approximately 100 kilometres being awarded by the Ministry of Road Transport and Highways.
Despite the temporary slowdown, analysts maintain a positive outlook on the infrastructure sector. Axis Securities mentioned that the NHAI plans to award multiple projects under the Bharatmala Pariyojana, which is the government's flagship program aimed at constructing highways and expressways. This is expected to drive the momentum of road construction. Axis Securities predicts an increase in awarding activities in FY23, as it is a pre-election year.
Also read:
ADB rejects tenders for seven flyovers in ahmedabadPathankot-Mandi highway project gets eco clearance
Next Story
3i Infotech Reports Rs 7.25 Bn Revenue for FY25
3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..
Next Story
Emerald Finance Joins Baya PTE to Boost SME Bill Discounting
Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..
Next Story
BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25
BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..
