KNR Constructions Limited has informed the Exchange regarding 'Intimation under Regulation 30 of SEBI (LODR) Regulations'.
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Awaiting price reaction for this filing.
KNR Constructions informed the exchanges that NHAI has issued a Show Cause Notice to its wholly-owned subsidiary, KNR Ramanattukara Infra Private Limited, and to KNR as the promoter. The notice relates to the failure of a Main Carriageway, Service Road, and associated structures (Retaining wall & RE Wall) at a project stretch on 19.05.2025. NHAI has also suspended the subsidiary from participating in ongoing and future bids for 1 month, or until an expert committee completes its investigation, whichever is later. KNR has 15 days to respond, and the issue is attributed to indeterminate subsoil conditions and a high water table. Financial impact is still being assessed, and the company states other operations remain unaffected.
Short-term negative sentiment expected as the subsidiary faces a 1-month bidding ban and a regulatory show cause notice, though the financial hit is not yet quantified and core operations continue. Investors should watch for the subsidiary's response, investigation outcome, and any forthcoming financial impact disclosure.