JMC Projects wins projects worth Rs. 514 crore

Engineering and construction arm of Kalpataru Group, JMC Projects on Monday informed the bourses that it has secured new orders worth Rs. 514 crore. The orders include residential and commercial projects in South and West India which is worth Rs. 295 crore.The company also bagged factory works from a multinational client in eastern India worth Rs.112 crore and Rs. 107 crore include institutional building in the region.

In the last month, the company had won residential and commercial projects in South India worth Rs. 616 crore.

As on FY19, the JMC Project’s order book was at Rs. 9,962 crore which translate into book-to-bill of 3.1x giving strong revenue visibility for the next 3 years.

With response to this positive development, the stock of JMC opened gap up at Rs. 134 per share as against previous close of Rs. 128.3. However, later the stock cooled down and touched intra-day low of Rs. 129.05 apiece and at 12.27 hours the stock was trading near to its day low at 129.95 apiece.