KNR Constructions Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript KNR Constructions Ltd filed with BSE on 20 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
KNR Constructions reported Q1 FY27 consolidated revenue of Rs 587.9 crore with EBITDA margin of 16.4% and net profit of Rs 80.7 crore, aided by a one-off cash surplus from the Ramagiri and Palani SPV divestments. Management said the total order book including two recently won HAM projects and a mining project stood at Rs 15,234 crore, with mining now comprising 45% of the order book. Management also discussed progress on the Kusmunda coal mining project, capex plans for FY27 and FY28, and ongoing discussions with the Telangana government on outstanding irrigation receivables.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Standalone revenue: INR436.7 crores (Q1 FY27)
p. 5
“The revenue for the quarter ended stood at INR436.7 crores.”
K. Venkata Rama Rao, page 5 of the filed PDF · View the filing
Standalone EBITDA margin: 15% (Q1 FY27)
p. 5
“EBITDA for Q1 FY27 stood at INR65 crores and EBITDA margin is 15%.”
K. Venkata Rama Rao, page 5 of the filed PDF · View the filing
Standalone net profit: INR282.3 crores (Q1 FY27)
p. 5
“Net profit for the quarter was INR282.3 crores.”
K. Venkata Rama Rao, page 5 of the filed PDF · View the filing
Consolidated revenue: INR587.9 crores (Q1 FY27)
p. 5
“The revenue for the quarter stood at INR587.9 crores.”
K. Venkata Rama Rao, page 5 of the filed PDF · View the filing
Consolidated EBITDA margin: 16.4% (Q1 FY27)
p. 5
“EBITDA for Q1 FY27 stood at INR96.4 crores and EBITDA margin is at 16.4%.”
K. Venkata Rama Rao, page 5 of the filed PDF · View the filing
Consolidated net profit: INR80.7 crores (Q1 FY27)
p. 5
“Net profit for the quarter was INR80.7 crores.”
K. Venkata Rama Rao, page 5 of the filed PDF · View the filing
Working capital days: 133 days (As of 30 June 2026)
p. 5
“The working capital days stood at 133 days compared to 78 days as of March '26.”
K. Venkata Rama Rao, page 5 of the filed PDF · View the filing
Consolidated debt: INR1,975 crores (As of 30 June 2026)
p. 5
“The consolidated debt as of 30th June 2026 stood at INR1,975 crores as compared to INR2,438 crores as of 31st March 2026.”
K. Venkata Rama Rao, page 5 of the filed PDF · View the filing
Net debt to equity: 0.9 (As of 30 June 2026)
p. 5
“The net debt to equity on a consolidated basis as of 30th June 2026 stands at 0.9 as compared to 0.49 as of March '26.”
K. Venkata Rama Rao, page 5 of the filed PDF · View the filing
Total order book: INR8,667 crores (As of 30 June 2026)
p. 5
“As on 30th June 2026, the company total order book stands at INR8,667 crores.”
K. Venkata Rama Rao, page 5 of the filed PDF · View the filing
Total order book including HAM and mining: INR15,234 crores (As of 30 June 2026)
p. 5
“Including the HAM project and the mining project, the company's total order book stands at INR15,234 crores.”
K. Venkata Rama Rao, page 5 of the filed PDF · View the filing
HAM debtors: INR178 crores (As of June 2026)
p. 8
“HAM debtors as of June is INR178 crores.”
K. Venkata Rama Rao, page 8 of the filed PDF · View the filing
Mining project value (Kusmunda): INR3,361 crores
p. 4
“The project has a total value of INR3,361 crores, excluding GST and is to be executed over a period of eight years.”
K. Venkata Rama Rao, page 4 of the filed PDF · View the filing
Equity invested in HAM projects: INR595 crores (As of 30 June 2026)
p. 4
“As of 30th June 2026, the company has already invested INR595 crores, out of INR805 crores revised equity requirement for all the existing HAM projects.”
K. Venkata Rama Rao, page 4 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Standalone execution/revenue — INR2,200 crores to INR2,300 crores · FY27
stated firmly by K. Venkata Rama Rao
p. 6
“So maybe around INR2,200 crores to INR2,300 crores will be FY27 because whatever the execution is, it's going to start in our ECR Chennai project and Telangana, Mahabubnagar project in the Q3 and mining project of Kusmunda Chhattisgarh, that is going to start next month.”
K. Venkata Rama Rao, page 6 of the filed PDF · View the filing
Execution/revenue — more than INR3,000 crores · FY28
stated as an aspiration by K. Venkata Rama Rao
p. 6
“So FY28 should be more than actually INR3,000 crores, we will try to achieve.”
K. Venkata Rama Rao, page 6 of the filed PDF · View the filing
EBITDA margin — 11% to 12% · Q3 and Q4 FY27
stated conditionally by K. Venkata Rama Rao
p. 7
“It will be somewhere range of around 11% to 12% EBITDA will be there in Q3, Q4.”
K. Venkata Rama Rao, page 7 of the filed PDF · View the filing
EBITDA margin — 12% to 13% · FY28
stated as an aspiration by K. Venkata Rama Rao
p. 7
“but average around 12% to 13% of EBITDA we can achieve.”
K. Venkata Rama Rao, page 7 of the filed PDF · View the filing
Order inflow — INR8,000 crores to INR10,000 crores · FY27
stated as an aspiration by K. Venkata Rama Rao
p. 5
“the company is targeting order inflow of range of around INR8,000 crores to INR10,000 crores during FY27, comprising a healthy mix of NHAI projects, irrigation project and other state government infrastructure works.”
K. Venkata Rama Rao, page 5 of the filed PDF · View the filing
Water pipeline execution — INR300 crores to INR400 crores · FY27
stated firmly by K. Venkata Rama Rao
p. 6
“So this year, definitely, we are targeting to do somewhere around INR300 crores to INR400 crores in this year and balance in the next year.”
K. Venkata Rama Rao, page 6 of the filed PDF · View the filing
Revenue — INR2,200 crores to INR2,300 crores · FY27
stated firmly by K. Venkata Rama Rao
p. 14
“This year, we are targeting somewhere around, you can say, INR2,200 crores to INR2,300 crores of revenue with EBITDA of around 8% to 9% this year.”
K. Venkata Rama Rao, page 14 of the filed PDF · View the filing
Revenue — more than INR3,000 crores · FY28
stated as an aspiration by K. Venkata Rama Rao
p. 14
“We are thinking they try to cross INR3,000 crores plus with EBITDA of around 11% to 12%.”
K. Venkata Rama Rao, page 14 of the filed PDF · View the filing
Two new HAM appointed dates — Q3 · Q3 FY27
stated firmly by K. Venkata Rama Rao
p. 6
“Yes, yes. Q3, we are expecting AD.”
K. Venkata Rama Rao, page 6 of the filed PDF · View the filing
Kusmunda mine appointed date — first week of September · September 2026
stated conditionally by K. Jalandhar Reddy
p. 9
“Right now, I think appointed date is expected in first week of September.”
K. Jalandhar Reddy, page 9 of the filed PDF · View the filing
Company-level capex — INR350 crores to INR400 crores · FY27
stated firmly by K. Venkata Rama Rao
p. 15
“FY27, we are planning somewhere around INR350 crores to INR400 crores basically mining capex will be more capex.”
K. Venkata Rama Rao, page 15 of the filed PDF · View the filing
Mining revenue — INR150 crores · FY27
stated conditionally by K. Jalandhar Reddy
p. 14
“But INR150 crores, we are expecting from this, sir, plus or minus INR30 crores, INR40 crores could be there, INR20 crores, INR30 crores.”
K. Jalandhar Reddy, page 14 of the filed PDF · View the filing
Kusmunda mining revenue — INR400 crores · FY28
stated conditionally by K. Jalandhar Reddy
p. 15
“Sir, INR400 crores.”
K. Jalandhar Reddy, page 15 of the filed PDF · View the filing
Irrigation recovery from government — INR400 crores to INR500 crores · FY27
stated conditionally by K. Jalandhar Reddy
p. 8
“Yes, of course, I'm expecting.”
K. Jalandhar Reddy, page 8 of the filed PDF · View the filing
Irrigation project completion (Mysore-Kushalnagar) — April/May completion · FY28
stated as an aspiration by K. Jalandhar Reddy
p. 17
“We are planning, coming April end or May maximum.”
K. Jalandhar Reddy, page 17 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management guided standalone execution of around Rs 2,200-2,300 crore in FY27, rising to more than Rs 3,000 crore in FY28 as ECR Chennai, Telangana and mining projects ramp up.
Answered by K. Venkata Rama Rao
Asked by Vaibhav Shah: How do we see the entire year execution for FY27, and growth in FY28?
p. 6
“So this year, definitely, we will cross more than INR2,000 crores, but maybe you can say 10% to 15% more.”
K. Venkata Rama Rao, page 6 of the filed PDF · View the filing
Management described positive but still uncertain discussions with the Finance and Irrigation Ministries about installment payments for outstanding dues.
Answered by K. Jalandhar Reddy
Asked by Vaibhav Shah: What is the status of irrigation recoveries from the government?
p. 7
“They even asked us to continue for a speedy working up.”
K. Jalandhar Reddy, page 7 of the filed PDF · View the filing
Management said around Rs 1,500 crore is at L1 stage awaiting LOA, with a few more bids submitted whose outcome is uncertain.
Answered by K. Jalandhar Reddy
Asked by Shravan Shah: What is the current L1 value and pending bids?
p. 8
“Sir, around INR1,500 crores, we have L1, sir, announced, but I think LOA is yet to issue.”
K. Jalandhar Reddy, page 8 of the filed PDF · View the filing
Management attributed the higher Q1 margin to a one-off cash surplus of about Rs 90 crore from the SPV sale, and said excluding that the margin would be around 5.5%.
Answered by K. Venkata Rama Rao
Asked by Vasudev: Why was Q1 EBITDA margin 15% when full-year guidance is 8-9%?
p. 15
“So that was there in our Q1 results. So that's why this year, it looks means it is considered that EBITDA is coming to 15%”
K. Venkata Rama Rao, page 15 of the filed PDF · View the filing
Management specified a net one-off of Rs 46 crore comprising Rs 76 crore in revenue and Rs 30 crore in expenditure.
Answered by K. Venkata Rama Rao
Asked by Rajarshi Maitra: What was the exact quantum of the one-off in the EBITDA?
p. 18
“So net INR46 crores has been considered in the EBITDA, as a one-off.”
K. Venkata Rama Rao, page 18 of the filed PDF · View the filing
Management explained land handover delays due to local protests over service roads, said full land was recently handed over, and expects execution to speed up with a PCOD target by December.
Answered by K. Jalandhar Reddy
Asked by Bhavin Modi: Why has execution on the Mysore-Kushalnagar package not picked up, and what is planned for FY27?
p. 16
“We are even making arrangements for going COD by December for whatever the land which they made available for us around 30%- 40% available land was there, on that only, we would like to do the PCOD and balance we execute in the thing.”
K. Jalandhar Reddy, page 16 of the filed PDF · View the filing
Management said a buyback decision is under consideration and pending a final board meeting.
Answered by K. Jalandhar Reddy
Asked by Faisal Hawa: Why isn't the company giving a larger dividend or buyback given lower capex needs?
p. 12
“Buyback, we are considering, sir. We'll come back on it.”
K. Jalandhar Reddy, page 12 of the filed PDF · View the filing
Risks flagged
Slower NHAI project awarding and execution in the sector during the quarter
p. 3
“During the quarter, NHAI awarded approximately 107 kilometers of the project, while the execution also moderated to around 638 kilometers.”
K. Venkata Rama Rao, page 3 of the filed PDF · View the filing
Delay in irrigation payment recoveries from the Telangana government requiring continuous follow-up
p. 13
“Sir, actually see, they say it's an automatic thing. Once we start doing, we'll do every month, we'll be paying you INR70 crores, INR80 crores, whatever they're saying. But unless you don't push, things will not happen.”
K. Jalandhar Reddy, page 13 of the filed PDF · View the filing
Land acquisition delays affecting the Banhardih mining project
p. 9
“There some land acquisition is still going on, sir. I think we expect around five months to six months that can happen for the land acquisition.”
K. Jalandhar Reddy, page 9 of the filed PDF · View the filing
Battery storage bidding risks including currency exposure
p. 13
“And moving out that, another risk is there, with the increasing dollar price and all other external factors, it has got assigned with its own risk.”
K. Jalandhar Reddy, page 13 of the filed PDF · View the filing
Unhealthy pricing in elevated metro bids leading to non-participation
p. 17
“Actually, sir, that Odisha, Bhubaneswar bid we have done for elevated metro. But subsequently, that went with unhealthy price.”
K. Jalandhar Reddy, page 17 of the filed PDF · View the filing
Qualification restrictions preventing participation in UPEIDA expressway bids
p. 17
“Sir, UPEIDA, I'm not getting qualification because they ask for some express highways to be constructed. My expressways have not been completed yet.”
K. Jalandhar Reddy, page 17 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.