JMC Projects secures orders worth Rs 596 crore

JMC Projects, a part of Kalpataru Group, shines on the first trading day of 2019, after it informed the bourses that the company has bagged orders worth Rs. 596 crore. This order involves residential and commercial projects in South India which is worth Rs. 434 crore and civil works for a steel plant in Orissa worth Rs. 162 crore.

During the first half of FY19, the company has won order worth Rs. 3,978 crore and as on September 2018 ended quarter the company total order book stood at Rs. 10,129 crore. This strong order book translates book-to-bill of 3.5x on FY18 revenue which gives strong revenue visibility for the next 3-4 years.

The company’s management stated that most of these new orders are repeat orders from existing clients, this indicates the company’s ability to retain client.

JMC Projects is a subsidiary of Kalpataru Power Transmission Limited, involves in the contracting construction work.

The stock of JMC Projects in Tuesday’s trading session opened at Rs. 89.7 apiece as against previous close of Rs. 87 spiking almost 12 per cent to touch intra-day high of Rs. 97.8. At 14:30 hours, the stock was trading at Rs. 92.50 apiece, up by almost 6.32 per cent.