KNR Constructions Ltd.KNRCON₹230.68 +8.72%

KNR Constructions Ltd. has announced a major project win, receiving the Letter of Acceptance (LoA) for a ₹4,800 crore coal mining contract in Jharkhand, awarded by Patratu Vidyut Utpadan Nigam Ltd (PVUNL), a joint venture between NTPC Ltd and Jharkhand Bijli Vitran Nigam Ltd (JBVNL).

The short-term contract involves the development and operation of the Banhardih Coal Mining Block, with estimated reserves of 34.50 million tonnes. The contract will be executed by a joint venture between KNR Constructions Ltd (74%) and Harsha Constructions Pvt Ltd (26%). The initial development phase spans 360 days, followed by a five-year operational period.

This project marks a strategic expansion for KNR Constructions into coal mining infrastructure, reinforcing its presence in energy-linked development projects. The Banhardih coal block is expected to play a critical role in fuel supply for thermal power generation in Jharkhand, aligning with the Centre’s focus on self-reliance in coal production.

This new win is expected to significantly enhance KNR’s order book and revenue visibility in the medium term, especially as energy-linked infrastructure remains a priority for both state and central governments.

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Note: The stock price mentioned is as of 3:30 PM.

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CIN: U65990KA2021PTC146954.