KNR Constructions (KNRC) continued to report an above par performance in 1QFY18 marked by better-than-expected revenue booking (revenue surged by ~53% YoY to Rs4.6bn). A healthy order inflow especially in 1HFY17 and execution ramp-up in new projects led to better revenue booking. Whilst EBITDA rose by a strong 53% YoY to Rs675mn, EBITDA margins stood at 14.6% (flat on YoY). Better operating performance, higher other operating income due to Rs168mn claims received from two JVs and negative tax boosted its PAT by 124% YoY and 29% QoQ to Rs676mn. Though KNRC did not secure any fresh order during the quarter, it expects securing orders worth Rs20-25bn in FY18. Notably, even current order book at Rs33.4bn (2x TTM revenue)...