J Kumar Infra shines on CIDCO order
Mumbai based infrastructure company, J Kumar Infraprojects, announced in a stock exchange filing that it has secured a Letter of Acceptance (LoA) from CIDCO, on Friday.
The company has received letter of acceptance from City and Industrial Development Corporation of Maharashtra Limited (CIDCO) for the work regarding design & construction of coastal road in Navi Mumbai. The stated road will be constructed from Amra marg to MTHL junction airport link in Navi Mumbai. The total worth of the order is Rs. 681.65 crore which will be rewarded to J Kumar and J M Mhatre, which is joint venture. J Kumar Infraprojects, though, will have order realization of Rs.409 crore as it holds 60 per cent stake in the joint venture.
The company had also won order worth Rs. 1540 crore for the same segment of the business. At the end of first quarter of fiscal year 2019-20, the company had total order book of Rs. 9606 crore. The order book has 60 per cent back log from metro projects while the flyover projects contribute to around 25 per cent in the overall order book.
J Kumar Infraprojects is one the leading players in the road construction and other heavy engineering industry.
On Friday, stock closed higher by more than 4 per cent at Rs. 122.00 on BSE.