KNR Constructions Wins ₹2,163.07 Crore Chennai Elevated Corridor Project Under HAM; Shares Surge 5.39%
By HDFC SKY | Published at: Feb 17, 2026 06:24 PM IST
KNR Constructions Limited has received a Letter of Award (LoA) for the construction of a four-lane elevated corridor along East Coast Road (ECR) in Chennai under the Hybrid Annuity Mode (HAM), the company informed exchanges on Tuesday.
The project carries a bid price of ₹2,163.07 crore and pertains to the stretch from design chainage Km 11+480 to Km 11/800 (West Avenue Road) and up to Km 24+780 (East Coast Road) from Thiruvanmiyur to Uthandi in SH-49.
The company said the signing of the concession agreement is subject to the outcome of W.A. No. 284 of 2026 before the Madras High Court.
Project Scope and Execution Timeline
The elevated corridor project will be executed under the Hybrid Annuity Mode (HAM), a public-private partnership model where project cost is shared between the authority and the concessionaire, with annuity payments made over the operational period.
The construction period is 1,095 days, followed by an operation period of five years from the Commercial Operation Date (COD), as per the disclosure.
The company also stated that the trading window for dealing in its securities will remain closed from February 17, 2026, to February 19, 2026, in accordance with its Code of Conduct for Prevention of Insider Trading.
Market Snapshot
At the close of trade on February 17, shares of KNR Constructions closed at ₹144.70 on the NSE, up ₹7.40 or 5.39% compared with the previous close of ₹137.30.
The stock opened at ₹137.67 and touched an intraday high of ₹148.00 and a low of ₹136.63 during the session.
The company’s market capitalisation stood at approximately ₹4.08K crore. The stock has a 52-week high of ₹254.00 and a 52-week low of ₹130.28. Its price-to-earnings (P/E) ratio is 8.65, according to exchange data.
Source:
- https://www.bseindia.com/xml-data/corpfiling/AttachLive/73fd8f4c-bf2c-4434-a8a8-d8c33df6a21d.pdf
- https://www.bseindia.com/stock-share-price/knr-constructions-ltd/knrcon/532942/corp-announcements/
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