This small-cap company received work order of more than Rs 300 crore from Brihanmumbai Municipal Corporation
The company is engaged in the business of execution of contracts for infrastructure development-related projects
J Kumar Infraprojects has received a Letter of Acceptance (LoA) from Brihanmumbai Municipal Corporation for the work-Design, Build and Commissioning of a Priority Sewer Tunnel - Phase 2 from Goregaon, pumping station to new Malad IPS with segmental lining method for a total awarded contract cost of Rs 515.26 crore inclusive of GST, in the name of J Kumar - MEPL (Joint Venture) where the share of J Kumar Infraprojects ltd. is 60% which comes to around Rs 309.15 crore inclusive of GST.
The scope of work includes designing and building a 2600 mm internal diameter (ID) tunnel by segmental lined bored technique from Tunnel Shaft S08 to Tunnel Shaft S12, with a total anticipated length of 4.75 km.
The scrip opened at Rs 240.55 and touched a high and low of Rs 240.60 and Rs 235.30, respectively. Its 52-week high stood at Rs 351.95 whereas its 52-week low was Rs 159.80. The current market cap of the company is Rs 1,800 crore. Promoters hold 46.64 per cent, whereas institutional and non-institutional holdings are 22.89 per cent and 30.47 per cent, respectively.
The origin of J Kumar Infraprojects dates back to 1980. The company's foundation was laid when its Promoter Jagdishkumar M Gupta established his proprietorship organisation under the name and style of J Kumar & Co. Under his capable leadership, the proprietary firm began modestly by maintaining PWD buildings and grew to become a Class I-A Civil Contractor with the Public Works Department of the Government of Maharashtra. With this registration, he began executing civil contracts for the government, semi-government, and various private organisations about infrastructure and civil engineering construction contracts, primarily for roads, flyovers, bridges, irrigation projects, commercial buildings, railway buildings, sports complexes, and airport contracts.