KNR Constructions: Business metrics or bumpy past? Why MFs prefer KNR Constructions, Ashoka Buildcon over IRB Infra

India is making roads at an unprecedented pace — 30km per day, or 10,800km of tarmac was laid in FY19. With the Narendra Modi government pressing the pedal on infrastructure development, the roads sector has managed to change course and set out on a path to recovery following the debacle of the public-private-partnership regime (PPP). The last five years have been nothing less than a boon for road developers in India. About 50%-70% projects