KNR construction nods stake dilution in three Cube Highways projects

02 Sep 2021 CW Team

Hyderabad-based KNR Constructions Limited nodded the dilution of its entire stake in three wholly-owned subsidiary highway companies to Cube Highways and Infrastructure III Private Limited and affiliates.

As per the board of directors' approval, the construction company decided to dilute its stake in KNR Shankarampet projects, KNR Srirangam Infrastructure, and KNR Tirumala Infrastructure subject to approval from the company's members and approval from regulatory bodies and lenders.

As per the concession agreement and Ministry of Road Transport and Highways (MoRTH) circulars, the transaction will be based on the share purchase agreements entered into through KNR constructions and its affiliates.

While the KNR Shankarampet project has a turnover of Rs 367.77 crore and a net value of Rs 136.86 crore, KNR Srirangam has a turnover of Rs 241.11 crore and a net value of Rs 98.23 crore and KNR Tirumala has a turnover of Rs 425.44 crore and a net value of Rs 176.66 crore.

The estimated consideration for these projects, on completion, is anticipated to be Rs 466 crore.

The company had entered into a share purchase agreement for these three special purpose vehicles (SPV) divestment with Cube highways.

The transaction is subject to shareholding transfer restrictions set out in the concession agreement performed between the National Highways Authority of India (NHAI) and these step-down subsidiaries, and other approvals.

As of June end, 2021, the KNR construction company commands a strong order book of Rs 6,596 crore.

In FY21, KNR constructions and its subsidiaries closed with Rs 2,903.63 crore, and its consolidated net value was Rs 1,976.47 crore.

On Monday, KNR shares closed at Rs 320.90, up 0.56% on the Bombay stock exchange (BSE).

Image Source

Also read: RInfra plans to sell five road assets to Singapore’s Cube Highways

Real Estate

08 May 2026

Integrated Waterproofing Strategies

Waterproofing buildings used to be an annual pre-monsoon affair but the evolution of real-estate development has changed that approach. In new developments, developers are weaving waterproofing solutions into both the design and construction phases, an approach that Nikhil Madan, Managing Director, Mahima Group, says, “is all about ensuring lasting durability [of the building] and keeping lifecycle risks including water seepage and extensive maintenance to a minimum.”Watertight by designAluminium formwork systems aren’t commonly thought of as a waterproofing tool but at the Mahima Group,..

GROHE Showcases Water-Led Design At Milan

GROHE unveiled its GROHE SPA Aqua Sanctuary at Milan Design Week 2026, transforming Piccolo Teatro Studio Melato into an immersive showcase of water, design and wellbeing. Built on the philosophy of ‘Wellbeing Through Water’, the installation reimagined bathrooms as holistic spaces for relaxation, rejuvenation and self-care.The Aqua Sanctuary was presented through three interconnected sanctums. The first showcased the 3D-printed GROHE SPA AquaTree shower and faucet, highlighting bespoke innovation and biophilic design. The second featured the Atrio Private Collection and GROHE SPA x Buster..

Rahee Group Expands Rail Manufacturing Capacity

Rahee Group has outlined a multi-year investment roadmap to expand its operational footprint and strengthen manufacturing capabilities for India’s growing railway and urban transit sector. The Group is expanding in Odisha with a new Track Component Casting Unit, for which the groundbreaking ceremony was held on 8 April 2026 in the presence of Odisha Chief Minister Mohan Charan Majhi.The Group’s flagship EPC arm, Rahee Infratech Ltd, continues to focus on complex rail infrastructure projects, including track systems, bridges, viaducts and ballastless infrastructure. Its wholly owned subsidi..