KNR Constructions said on Thursday that it has received a Letter of Acceptance (LoA) from the Hyderabad Metropolitan Development Authority (HMDA) for the construction of an elevated corridor in Hyderabad, Telangana, worth ₹1,396.54 crore, excluding GST.
The project involves the construction of an elevated corridor from ICCC Banjara Hills to Shilpa Layout Flyover Road. The construction period for the project is 24 months.
The company informed the stock exchanges about the receipt of the LoA under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
On November 3, KNR Constructions has invested ₹44.65 crore in its wholly owned subsidiary, KNR Sriranganatha Infra, through the subscription of 4,46,500 equity shares of ₹1,000 each on a rights basis.
The acquisition took place on November 2, 2026, the company informed the stock exchanges. Following the investment, KNR Constructions continues to hold 100% shareholding in KSIPL.
The cumulative investment in the subsidiary stands at ₹44.75 crore, representing 4,47,500 equity shares of ₹1,000 each.
KNR Sriranganatha Infra was incorporated as a special purpose vehicle (SPV) and is engaged in the construction and engineering industry. Its size/turnover stood at ₹79.82 crore as of March 31, 2026.
The company said the investment was made in accordance with the terms and conditions of the facility agreement entered into with lenders and in compliance with the concession agreement.
In a separate development on September 18, KNR Constructions informed that it has completed the sale of its entire equity share capital in subsidiary KNR Guruvayur Infra (KGIPL) to Indus Infra Trust.
The transaction was completed on September 17, 2026. The Share Purchase Agreements for the transaction were executed on December 24, 2025.
KNR Constructions said that it had invested ₹193.32 crore in KGIPL in the form of equity and subordinated debt. Following the transaction, the company received ₹485.86 crore as consideration from the purchaser.
Indus Infra Trust is a publicly listed infrastructure investment trust registered with SEBI under the SEBI (Infrastructure Investment Trusts) Regulations, 2014. The trust acquires, manages and invests in infrastructure assets across sectors and/or securities of companies engaged in the infrastructure sector.
KNR Constructions shares closed at ₹107.66 on November 5, 2026, up ₹2.76 or 2.63%.
Also Read: KNR Constructions sells Guruvayur Infra stake to Indus Infra Trust for ₹486 crore