KNR Constructions Limited has announced the receipt of a Letter of Award for a significant infrastructure project worth ₹2,163.07 crores. The company informed the stock exchanges on 17th February 2026 about securing this major elevated corridor construction project in Chennai under Regulation 30 of SEBI (LODR) Regulations, 2015.

Project Details

The awarded project involves the construction of a Four Lane Elevated Corridor along East Coast Road (ECR) from design Chainage Km. 11+480 to Km. 11/800 (West Avenue Road) and extends up to Km. 24+780 (East Coast Road) from Thiruvanmiyur to Uthandi in SH-49. The project will be executed under the Hybrid Annuity Mode (HAM), a financing model that combines government funding with private investment.

Project Scope and Timeline

The elevated corridor project covers a strategic stretch of Chennai's East Coast Road, connecting Thiruvanmiyur to Uthandi. The construction timeline spans 1095 days, followed by an operational period of 5 years from the Commercial Operation Date (COD). This infrastructure development is expected to enhance connectivity and reduce traffic congestion along one of Chennai's key arterial roads.

Legal Considerations

The company has disclosed that the signing of the Concession Agreement is subject to the outcome of W.A. No. 284 of 2026 pending before the Madras High Court. This legal proceeding could potentially impact the project's commencement timeline, though the company has received the Letter of Acceptance for the construction work.

Trading Window Closure

In compliance with the company's Code of Conduct for Prevention of Insider Trading, KNR Constructions has announced the closure of the trading window for dealing in company securities from 17th February 2026 to 19th February 2026. This closure applies to all Directors, Officers, and Designated employees covered under the insider trading prevention code.

The project award represents a significant addition to KNR Constructions' order book and demonstrates the company's continued presence in major infrastructure development projects across India. The Hybrid Annuity Mode structure provides a balanced risk-sharing mechanism between the government and the private developer, ensuring steady revenue streams during both construction and operational phases.

KNR Constructions has released its third quarter financial results along with the complete earnings call transcript, revealing significant challenges in operational performance. The construction company reported a consolidated net profit of ₹104 crores in Q3 FY26, representing a substantial decline compared to the previous year's performance.

Financial Performance Overview

The company's quarterly results demonstrate considerable pressure across key financial metrics, with both revenue and profitability showing year-on-year contractions.

Nine-Month Performance Analysis

For the nine months of FY26, the company showed mixed performance with revenue reaching ₹2,002 crores and EBITDA of ₹542 crores, maintaining an EBITDA margin of 27.10%. The net profit for the nine-month period stood at ₹332 crores.

Order Book and Project Updates

As of December 31, 2025, KNR Constructions maintains a total order book of ₹8,849 crores, distributed across multiple segments.

The company has invested ₹727 crores out of the required ₹962 crores revised equity infusion for all HAM projects, with additional equity requirements of ₹87 crores in FY26 and ₹148 crores in FY27.

Asset Monetization Initiative

KNR Constructions executed a Share Purchase Agreement with Indus Infra Trust on December 24, 2025, for the proposed sale of 100% shareholding in four special purpose vehicles. The transaction involves an investment of ₹566.80 crores against expected total proceeds of ₹1,543 crores, including ₹1,398 crores as sale consideration and ₹145 crores as estimated cash surplus.

Earnings Call Transcript Availability

Following the quarterly results announcement, the company has made the complete earnings call transcript available to stakeholders. The earnings call held on February 6, 2026, has been uploaded on the company's website in compliance with SEBI LODR Regulation 30.

The transcript provides detailed insights into the company's operational challenges, future outlook, and management commentary on project execution timelines and market conditions.