Key Highlights

Credit Rating

  • CRISIL Ratings reaffirmed Long Term Bank Facilities at CRISIL AA with Stable Outlook.
  • Short Term ratings reaffirmed at CRISIL A1+ with Stable Outlook.

New Project Awards

  • Received Letter of Acceptance from South Eastern Coalfields Limited for a mining project in Joint Venture with Sushee Infra & Mining Limited at Kusmunda OCP in Chhattisgarh.
  • Project Cost: ₹3,361 Crore on item rate basis.
  • Project Period: 8 years.
  • Received Letter of Acceptance from Malkajgiri Municipal Corporation, Hyderabad for an EPC Project.
  • Construction of 6 lane bi-directional flyover crossing TKR College junction, Gayatri Nagar Junction and Mandamallamma Junction.
  • Project Cost: ₹235 Crore.
  • Construction Period: 24 Months.

Asset Monetization / Divestment

  • Transferred 2 Projects to Indus Infra Trust:
  • KNR Palani Infra Limited: The Company had invested ₹64 Crore through equity and subordinated debt. Received consideration of ₹295 Crore from Indus Infra Trust including cash surplus of ₹90 Crore.
  • KNR Ramagiri Infra Private Limited: The Company had invested ₹83 Crore (Equity and Subordinated Debt). Received consideration of ₹227 Crore from Indus Infra Trust.
  • On 24th December 2025, the Company executed Share Purchase Agreements with Indus Infra Trust for the proposed sale of its 100% shareholding (including Sub Debt) of 4 special purpose vehicles (SPVs).
  • The divestment is subject to approval of various Authorities and lenders and is expected to be completed on or before 30th September 2026.

Financial Performance

Standalone Financial Results (Q1FY27)

| Metric | Q1FY27 (₹ Mn) | Q1FY26 (₹ Mn) | YoY Change | Q4FY26 (₹ Mn) | QoQ Change | FY26 (₹ Mn) |

| Total Revenue | 4,366.9 | 4,833.2 | -10% | 5,353.3 | -18% | 20,967.2 |

| EBITDA | 655.0 | 656.2 | 0% | 283.0 | 131% | 1,781.5 |

| EBITDA Margin | 15.0% | 13.6% | - | 5.3% | - | 8.5% |

| Other Income | 39.2 | 217.4 | - | 289.5 | - | 639.4 |

| Depreciation | 99.6 | 150.0 | - | 139.4 | - | 581.9 |

| Interest | 20.5 | 34.2 | - | 30.4 | - | 142.5 |

| Exceptional Item | 2,853.3 | 0.0 | - | 0.0 | - | 0.0 |

| PBT | 3,427.4 | 689.4 | 397% | 402.7 | 751% | 1,696.5 |

| Tax | 604.7 | 176.6 | - | 210.4 | - | 535.9 |

| Current Tax | 518.9 | 146.0 | - | 136.6 | - | 411.6 |

| Prior Period Tax | 0.9 | 0.0 | - | 0.0 | - | 1.7 |

| Deferred Tax | 84.9 | 30.6 | - | 73.8 | - | 122.6 |

| Profit After Tax (PAT) | 2,822.7 | 512.8 | 450% | 192.3 | 1368% | 1,160.6 |

| PAT Margin | 64.6% | 10.6% | - | 3.6% | - | 5.5% |

| Other Comprehensive Income | 1.9 | 1.7 | - | -7.8 | - | 7.7 |

| Total Comprehensive Income | 2,824.6 | 514.5 | 449% | 184.5 | 1431% | 1,168.3 |

Consolidated Financial Results (Q1FY27)

| Metric | Q1FY27 (₹ Mn) | Q1FY26 (₹ Mn) | YoY Change | Q4FY26 (₹ Mn) | QoQ Change | FY26 (₹ Mn) |

| Total Revenue | 5,879.4 | 6,127.3 | -4% | 6,955.9 | -15% | 26,980.1 |

| EBITDA | 964.3 | 1,829.6 | -47% | 1,691.3 | -43% | 7,113.5 |

| EBITDA Margin | 16.4% | 29.9% | - | 24.3% | - | 26.4% |

| Other Income | 120.1 | 252.4 | - | 189.6 | - | 652.2 |

| Depreciation | 107.0 | 154.2 | - | 139.4 | - | 594.6 |

| Interest | 530.0 | 483.5 | - | 558.0 | - | 2,117.3 |

| Share of Profit/(loss) of associates | 71.6 | 22.4 | - | 124.8 | - | 174.3 |

| Exceptional Item | 1,131.7 | 0.0 | - | 0.0 | - | 0.0 |

| PBT | 1,650.7 | 1,466.7 | 13% | 1,308.3 | -26% | 5,228.1 |

| Tax | 843.5 | 232.5 | - | 247.2 | - | 859.5 |

| Current Tax | 757.7 | 201.9 | - | 173.4 | - | 728.8 |

| Prior Period Tax | 0.9 | 0.0 | - | 0.0 | - | 8.1 |

| Deferred Tax | 84.9 | 30.6 | - | 73.8 | - | 122.6 |

| Profit After Tax (PAT) | 807.2 | 1,234.2 | -35% | 1,061.1 | -24% | 4,368.6 |

| PAT Margin | 13.7% | 20.1% | - | 15.3% | - | 16.2% |

| Other Comprehensive Income | 1.9 | 1.7 | - | -7.8 | - | 7.7 |

| Total Comprehensive Income | 809.1 | 1,235.9 | -35% | 1,053.3 | -23% | 4,376.3 |

Business Overview & Strategy

Company Profile

  • One of the leading companies providing Engineering, Procurement and Construction (EPC) services, primarily in Roads & Highways, Irrigation, and Urban Water Infrastructure.
  • 30+ years of experience, having executed over ~9,127 lane km of Road Projects across 12 states in India.
  • Portfolio includes 8 BOT/HAM Projects (2 Annuity, 6 HAM) with a total Bid Project Cost of ₹76,573 million.
  • Vision: To develop as a Centre of excellence in Infrastructure services and aim to add business verticals in Elevated Metro Rail and Railway Projects.

Top Management

  • Mr. K. Narasimha Reddy: Founder Promoter & Managing Director, over 50 years of experience.
  • Mr. K. Jalandhar Reddy: Promoter & Executive Director, over 25 years of experience, heads tendering and bidding.
  • Mr. T.L. Verma: Sr. Vice President - Projects, over 40 years of experience.
  • Mr. K Venkata Ram Rao: General Manager - Finance & Accounts, over 20 years of experience.
  • Ms. V. Harita: Company Secretary.

Order Book & Recent Wins

  • Total Orderbook as on 30th June 2026: ₹86,674 million.
  • Breakup: Road Projects (₹25,977 Mn), Irrigation Projects (₹16,849 Mn), Pipeline Projects (₹8,324 Mn), Mining Project (₹35,524 Mn).
  • State-wise Orderbook: Andhra Pradesh & Telangana (₹38,866 Mn), Karnataka (₹11,440 Mn), Kerala (₹692 Mn), Tamil Nadu (₹151 Mn).
  • Recently Won Projects (₹65,666 Mn):
  • Coal Mining JV with Sushee Infra: ₹33,167 Mn.
  • Four Lane Elevated Corridor on ECR, Tamil Nadu (HAM): ₹16,799 Mn.
  • 4 laning of NH-167, Telangana (HAM): ₹15,700 Mn.

HAM Portfolio Status

Detailed status provided for 6 HAM projects including SPV name, stake (100%), state, client, length, concession period, Bid Project Cost, Total Project Cost, Grant amount, estimated Equity/Debt, Appointed Date (AD), PCOD/COD, % Physical Progress, Equity Invested, Grant Received, and Debt Drawn.

BOT Portfolio – Annuity Projects

Details provided for two annuity projects: Patel KNR Infrastructures limited (PKIL) and Patel KNR Heavy Infrastructures Limited (PKHIL), both with 40% stake. Includes project type, state, JV partner, client, length, concession dates, project cost, equity, debt, and securitization details.

Equipment & Execution Capability

  • Possesses a large fleet of in-house construction equipment including 1,205 Tippers & Tankers, 374 Excavators, 309 Generators, 192 Concrete Mixers And Pumps, among others.
  • Has executed marquee projects like Grade Separators in Coimbatore and Salem, and the Konda Pochamma Sagar Reservoir in Telangana.
  • Pan India execution track record across 11 states with 81 projects worth ₹175,952 million executed in the last 30 years.

Client Base

Includes National Highways Authority of India (NHAI), Ministry of Road Transport & Highways (MoRTH), various state government departments and corporations, and private entities like GMR Projects Private Limited.

Shareholding Pattern (as of 30th June 2026)

  • Promoters: Not specified numerically.
  • Foreign Institutional Investors: Not specified numerically.
  • Mutual Funds & AIFs, Insurance Co.: Not specified numerically.
  • Public & Others: Not specified numerically.
  • Shareholders holding >1% (Other than Promoters): ICICI Prudential MF (4.73%), Invesco MF (4.11%), HDFC MF (3.76%), Bajaj Finserv MF (1.87%), HSBC MF (1.14%), Robeco Capital Growth Funds (1.12%). Total: 16.73%.