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KNR Constructions Limited ( (IN:KNRCON) ) just unveiled an announcement.
KNR Constructions Limited has incorporated a new wholly owned subsidiary, KNR Mahabalipuram Infra Private Limited, as a special purpose vehicle with authorised capital of Rs 10 lakh. The subsidiary currently has no operating revenue and has been created as a related-party entity fully held by the parent company.
KNR Mahabalipuram Infra Private Limited will undertake construction and engineering work for a four-lane elevated corridor along the East Coast Road from Thiruvanmiyur to Uthandi in Tamil Nadu under the Hybrid Annuity Model. The move strengthens KNR Constructions’ presence in highway and urban corridor projects, potentially enhancing its order book and project portfolio in the high-growth road infrastructure segment.
More about KNR Constructions Limited
KNR Constructions Limited operates in the construction and engineering sector, focusing on infrastructure projects such as roads and highways. The company frequently uses special purpose vehicles to execute project-specific mandates, reflecting a strategy geared toward structured project financing and focused operational management in transport infrastructure.
Average Trading Volume: 109,842
Technical Sentiment Signal: Sell
Current Market Cap: 40.46B INR
Find detailed analytics on KNRCON stock on TipRanks’ Stock Analysis page.