KNR Constructions Withdraws from Kerala–Tamil Nadu Highway Projects

Hyderabad-based KNR Constructions has exited four highway projects located in the states of Kerala and Tamil Nadu. The company has announced that it has sold its four Special Purpose Vehicle (SPV) subsidiaries — KNR Palani Infra Private Limited, KNR Ramagiri Infra Private Limited, KNR Guruvayur Infra Limited, and KNR Ramanattukara Infra Private Limited — to Indus Infra Trust for a total consideration of ₹1,543.19 crore.

KNR Constructions stated that definitive agreements related to this transaction have been duly executed. As part of the deal, all outstanding loans associated with these SPVs will also be transferred to Indus Infra Trust. The company further informed that the entire transaction is expected to be completed by the end of September next year.