Infrastructure development organisation KNR Constructions' joint venture, KNR-SIML, has secured a significant contract worth ₹3,361.11 crore from South Eastern Coalfields for coal mining works at Kusmunda OCP in Chhattisgarh. According to an exchange filing dated June 6, the order is awarded on an item rate basis for 2,920 days and involves comprehensive coal mining operations. The JV structure sees KNR Constructions holding 51% stake while Sushee Infra & Mining maintains 49% ownership.
The project encompasses extensive mining operations including hiring of Heavy Earth Moving Machinery (HEMM) such as excavators, tippers, dozers, motor-graders and water sprinklers for excavating soft soil above coal seams D, E&F, UK, LK, and LK(B). As reported by the exchange filing, the JV will be responsible for excavating all types of hard strata and will deploy suitable capacity with inbuilt water spraying arrangements for coal dust suppression during mechanical excavation. The operations will also include deployment of dozers on hired basis for ridge removal and left-out coal/coal measure strata removal while working coal seams in the mine.
Despite the major contract win, KNR Constructions shares were trading 3.35% lower at ₹125.69 per share on the NSE on Monday, June 8, at 3:05 pm. According to market data, the stock has a market capitalisation of ₹3,540.74 crore. The stock has experienced volatility with a 52-week high of ₹245 per share recorded on June 26, 2025, and a 52-week low of ₹108.65 reached on March 27, 2026. In the past week, the stock has declined 2.33% and 4.58% over the past month, with a year-to-date decline of 22.06%.
The company's recent financial results showed challenges with a 23.72% decline in consolidated net profit to ₹106.2 crore in the March quarter of FY26, compared to ₹139.23 crore in the year-ago period. As reported by the company, revenue from operations slipped 28.67% to ₹695.59 crore in Q4 FY26 against ₹975.21 crore in the corresponding quarter of the previous financial year.
