The shares of the construction company jumped around 3 percent after receiving an order worth Rs. 378 crores from Mumbai Metropolitan Region Development Authority. In six months, the shares have delivered more than 50 percent returns to its shareholders.
With a market capitalization of Rs. 3,233 crores, the shares of J Kumar Infraprojects Ltd started Monday’s trading session on a positive at Rs. 434.40 compared to its previous close at Rs. 426.65. The share hit a high of Rs. 444, gaining around 3 percent, and currently trading at Rs. 436. 45 apiece.
Such a positive movement was observed after the company in an exchange filing mentioned that they had received a project from the Mumbai Metropolitan Region Development Authority worth Rs. 378,70,38,350 crores for the design and construction of the flyover from Link Road, Andheri (West) to Poonam Nagar (JVLR) adjacent to the alignment of Metro Line. The project is to be executed in 30 months.
Having a look at the financial statement published by the company, the revenue decreased by 2.3 percent from Rs. 1,131 crores in the June quarter to Rs. 1,104 crores during the September quarter. In addition, the net profit remained the same at Rs. 73 crores during the last two quarters.
As of HIFY24, the company gets revenue from different sources. They get 29 percent of their revenue from metro(elevated), 21 percent from metro (underground), 31 percent from flyovers and roads, and the remaining 19 percent from Civil, Roads, Water and Others.
The company has been awarded projects worth Rs. 7,188 crores in the current fiscal year. As of 30 September, the total order book value stood at Rs. 16,447 crores. The company plans to bid for projects worth Rs. 25,000 crores to Rs. 30,000 crores in the coming months. The company aims to become a USD 1 billion revenue company by FY27. It aims to build its order book to be Rs. 25,000 crores by FY27.
Headquartered in Mumbai, J Kumar Infraprojects Ltd was incorporated in 1999. The company is engaged in the business of execution of contracts for various infrastructure projects including Transportation Engineering, Civil Construction, Irrigation Projects, and Piling Work.
Written By Vaibhav Patil
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