Hot Pursuit     16-Oct-23
JKumar Infra rises after securing LoA for Mumbai Metro project from MMRDA
J.Kumar Infraprojects advanced 2.66% to Rs 439.95 after the civil construction services provider announced that it has received a letter of acceptance (LOA) from Mumbai Metropolitan Regional Development Authority (MMRDA).

The scope of the said order involves design, supply, fabrication and erection of pre-engineering building structural steel works and execution of internal & external architectural finishings, plumbing works including interior fitouts for 5 elevated stations of Metro line 2B corridor of Mumbai Metro Rail Project of MMRDA. The LoA is issued to the company in the capacity of sole bidder.

The value of the said contract is Rs 99.29 crore. The project has to executed within a period of 56 weeks.

J. Kumar Infraprojects operates as a civil engineering and infrastructure development company. The Company focuses on the development of roads, flyovers, bridges, railway buildings, sports complexes and airport runways.

The company's standalone net profit rose by 17.6% to Rs 72.83 crore on 13.8% increase in revenue from operations to Rs 1131.32 crore in Q1 FY24 as compared with Q1 FY23.

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