J Kumar Infraprojects Secures Over Rs 1,000-Crore Project From NBCC, Shares Gain
The Silicon City Phase-IV Group housing project includes allied works at the plot in Noida with operations and maintenance.
J Kumar Infraprojects Ltd. shares rose over 2% after it received a Letter of Acceptance by NBCC (India) Ltd. for a group housing project worth Rs 1,073.39 crore. The project also includes operation and maintenance for a period of two years.
The Silicon City Phase-IV Group housing project includes allied works at the plot in Noida, with operations and maintenance, the company said in an exchange filing on Wednesday. The total contract value is Rs 1,073.39 crore, consisting of an execution cost of Rs 1,057.99 crore and operations and maintenance cost of Rs 15.40 crore.
The project is to be completed in two years.
J Kumar Infraprojects is aiming at an order book of Rs 25,000 crore by financial year 2027, riding on a robust order inflow, so far in the current financial year.
Nalin Gupta, managing director of J Kumar Infraprojects, also emphasised the company’s focus on margin improvement and revenue growth.
Gupta told NDTV Profit that the company aims to raise this margin to 16% over the next six to eight quarters, expressing confidence in reaching this goal, due to the strong order book and effective operational practices.
J Kumar Infraprojects Shares Price
The scrip rose as much as 2.15% to 719 apiece. It pared gains to trade 1.41% higher at Rs 713.85 apiece, as of 12:32 p.m. This compares to a 0.26% advance in the NSE Nifty 50.
It has risen 20.91% in the last 12 months. Total traded volume so far in the day stood at 2.8 times its 30-day average. The relative strength index was at 38.
Out of six analysts tracking the company, five maintain a 'buy' rating, and one recommends a 'hold', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 38.9%.
