Shares of KNR Constructions soared 3% on March 2 after the company secured a highway development project worth Rs 665 crore.

The stock was trading 2.9% higher on the BSE at Rs 265.40 at 9:18 am.

“The company has received an acceptance for the development of a six-lane access control greenfield expressway from Marripudi (ch.285+500) to Somvarappadu in the [NH-544G] Bengaluru-Vijayawada Economic Corridor under the HAM mode of the first phase of Bharatmala Pariyojana Andhra Pradesh,” KNR Constructions said in a regulatory filing.

The completion period is 24 months, and the operation period is 15 years, counting from the commercial operation date.

KNR Constructions operates in the roads and highways sector and has executed over 6,000 km of driveway projects across 12 states in India. The company also has well-established irrigation and urban water infrastructure management businesses.