KNR Construction wins order worth Rs. 847 crore

KNR Construction has secured a work order worth Rs. 847.34 crore from Navayuga Engineering Company Limited, Hyderabad on back to back basis for the balance work of Palamuru Rangareddy Lift Irrigation Scheme - Package 10.

The company has received the order for the balance work of the Palamuru Rangareddy Lift Irrigation Scheme - Package 10 for the formation of Venkatadri Reservoir bund from Km 6.900 to Km 11.550 at Vattem (V), Bijinepally (M), Nagarkurnool district.

As on FY19, the company’s order book was strong at Rs. 4,015.6 crore which translate into book-to-bill of 1.9x on FY19 revenue giving strong revenue visibility for the next two years. Out of these orders, the 96 per cent are from South and rest from east. In addition to these orders, the company has bagged HAM orders worth Rs. 1,885 crore.

In the full year 2018-19, the company’s revenue was at Rs. 2,291.5 crore, up by nearly 11 per cent from previous year. EBITDA for the full year was up by nearly 20 per cent yoy to Rs. 536.6 crore. Net profit for the year was at Rs. 264.9 crore, up by 16 per cent yoy.

On Tuesday, the stock of KNR Construction opened gap up at Rs. 283 as against its previous close of Rs. 261.2 apiece and settled for the day at Rs. 268 per share, up by 2.6 per cent from its previous close.