Latest news with #KNRConstructions
New Indian Express
9 hours ago
- Automotive
- New Indian Express
Contract firm KNRC blames slushy soil for NH collapse
KOCHI: KNR Constructions (KNRC) said the company has made no 'mistake' in the construction of NH 66 and attributed the collapse of the highway stretch at Kooriyad in Malappuram to unexpected subsoil conditions. According to KNRC, the company responsible for the Ramanattukara-Valanchery section of NH 66, the approach ramp with a reinforced earth (RE) wall yielded due to 'pockets of soft or slushy soil between the earth's layers' beneath the foundation. The Hyderabad-based listed company, in its latest earnings call, stated that the construction process followed proper protocols. 'We are very confident that we have not done any mistake... It's a completely waterlogged area... Proper approvals were taken, and thorough examination of the foundations were done during earthing, along with subsoil investigations,' K Jalandhar Reddy, promoter and executive director of KNRC, said in the call. Responding to analysts' questions, Reddy explained that the designs were made accordingly, and Strata Geosystems, a renowned RE Walls agency, had done the work. 'The design was verified and approved by the authorities concerned before execution. So, as such, we didn't see anything that would have indicated this issue. We treat this as an accident only,' he said. He said the company has put forth a proposal to NHAI to construct a viaduct in the damaged area —estimated to cost Rs 25-Rs 30 crore — to permanently resolve the issue. Reddy said this solution would prevent similar problems in the future given the road's 15-year maintenance requirement.
New Indian Express
10 hours ago
- Automotive
- New Indian Express
KNRC Contract firm blames slushy soil for NH collapse
KOCHI: KNR Constructions (KNRC) said the company has made no 'mistake' in the construction of NH 66 and attributed the collapse of the highway stretch at Kooriyad in Malappuram to unexpected subsoil conditions. According to KNRC, the company responsible for the Ramanattukara-Valanchery section of NH 66, the approach ramp with a reinforced earth (RE) wall yielded due to 'pockets of soft or slushy soil between the earth's layers' beneath the foundation. The Hyderabad-based listed company, in its latest earnings call, stated that the construction process followed proper protocols. 'We are very confident that we have not done any mistake... It's a completely waterlogged area... Proper approvals were taken, and thorough examination of the foundations were done during earthing, along with subsoil investigations,' K Jalandhar Reddy, promoter and executive director of KNRC, said in the call. Responding to analysts' questions, Reddy explained that the designs were made accordingly, and Strata Geosystems, a renowned RE Walls agency, had done the work. 'The design was verified and approved by the authorities concerned before execution. So, as such, we didn't see anything that would have indicated this issue. We treat this as an accident only,' he said. He said the company has put forth a proposal to NHAI to construct a viaduct in the damaged area —estimated to cost Rs 25-Rs 30 crore — to permanently resolve the issue. Reddy said this solution would prevent similar problems in the future given the road's 15-year maintenance requirement.
Business Standard
30-05-2025
- Business
- Business Standard
KNR Constructions slides as Q4 PAT slumps 61% YoY to Rs 248 cr
KNR Constructions declined 3.96% to Rs 212.65 after the company's consolidated net profit tumbled 60.58% to Rs 139.24 crore on 31.03% decline in revenue from operations Q4 FY25 over Q4 FY24. Profit before tax (PBT) stood at Rs 57.73 crore in Q4 FY25, down by 86.32% from Rs 422.16 crore recorded in Q4 FY24. EBITDA slipped 40.85% year on year to Rs 221.50 crore during the quarter. EBITDA margin reduced to 22.7% in Q4 FY25 as compared to 26.5% registered in Q4 FY24. Total expenses fell 26.85% to Rs 8,171.5 crore in Q4 FY25 over Q4 FY24. Cost of materials consumed stood at Rs 3,742 crore (down 27.32% YoY), employee benefits expense was Rs 412.44 crore (down 4.99% YoY), and finance costs were at Rs 405.84 crore (up 9.48% YoY) during the period under review. As of 31 March 2025, KNR Construction recorded an order book of Rs 5,051.8 crore, out of which Rs 2,561.1 crore is from other road projects, Rs 2,490.7 crore is from the irrigation sector and the pipeline sector. On a year-on-year basis, the company's consolidated net profit surged 28.87% to Rs 1,001.9 on 7.30% rise in revenue from operations to Rs 4,753.2 in Q4 FY25 over Q4 FY24. Meanwhile, the company has recommended a final dividend of Rs 0.25 per equity share of Rs 2 each for the financial year ended 31st March 2025, subject to approval by the shareholders at the ensuing annual general meeting (AGM). The record date for the final dividend will be announced in due course. KNR Constructions, incorporated in 1995, is a Hyderabad-based infrastructure project development company providing EPC services in segments such as roads and highways, irrigation and urban water infrastructure management.
Time of India
22-05-2025
- Business
- Time of India
NHAI debars concessionaire, consultant from bidding for projects
Kozhikode: NHAI has debarred Hyderabad-based KNR Constructions, the concessionaire of the construction, from participating in ongoing and future bidding for projects after the collapse of embankment in a section of the under-construction NH-66 at Kooriyad in Malappuram. The project consultant and independent engineer, Highway Engineering Consultants (HEC), has also been debarred from participating in ongoing/future bidding. In a release, the Union ministry of road transport and highways (MoRTH) said a preliminary inquiry found that the "settlement of embankment and failure of RE wall in the NH-66 stretch" occurred due to negligence on the part of the concessionaire to confirm the ground conditions and improve ground bearing capacity prior to the commencement of work. The RE wall on the Ramanattukara-Valanchery section of the highway failed on Monday, leading to traffic disruption and protests. The expert committee, in its initial assessment, suggested that the failure of the embankment was due to the inability of foundation soil to support high embankment loads. According to MoRTH, the project manager of the concessionaire, M Amarnath Reddy, and team leader of the consultant, Rajkumar, have been suspended from their duties. The two-member expert team, comprising geotechnical experts Jimmy Thomas and Anil Dixit, visited the site on Wednesday. G V Rao, a retired professor of IIT-Delhi, has been supervising the committee tasked with analysing the reason for the incident and suggesting remedial measures. MoRTH said the National Highway Authority of India (NHAI) was taking steps to ensure necessary remedial measures, and the work would be executed based on measures suggested by the expert team at the risk and cost of the concessionaire. The expert team will also suggest measures for other ongoing projects in Kerala and guidelines will be issued to prevent such incidents in other projects. Union minister for transport and highways Nitin Gadkari had assured IUML MP E T Mohammed Basheer of stern action against those responsible. Meanwhile, KNR Constructions executive director Jalandhar Reddy told a news channel that the decision to have an RE wall on the stretch could have been avoided. "Something else should have been provided there," he said, adding that the matter was under examination. "We should agree that there is some failure. We should not blame anyone for it because that happened due to some sort of insufficient things and unnoticed issues. Now we need to address it properly and see that things are done properly. It is given to experts and designers, and let them propose and we will do it," he said. Basheer welcomed the Centre's swift action, but said steps should be taken to ensure that the remaining work was not delayed. "At the same time, proper inspections should be conducted in areas where complaints have been raised to ensure public safety," he said.
