J Kumar Infraprojects receives orders worth over ₹2,700 crore in two days

Shares of reality firm J Kumar Infraprojects Ltd bagged a new order worth ₹912 crore in Mumbai on Wednesday taking its total order value to more than ₹2,700 crore in the last two days.

In a stock exchange filing on Wednesday, J Kumar Infraprojects said that it has received a project worth ₹912.3 crore to design and construct the coastal road at Ulwe in Navi Mumbai. The company received a letter of award (LoA) in the capacity of a sole bidder from CIDCO, the stock exchange filing said. The order pertains to the construction of a coastal road from CH 2,900 to CH 5,800 (MTHL Junction) at Ulwe.

Shares of J Kumar Infraprojects Ltd gained as much as 1.15% to an intraday high of ₹654 a piece on the National Stock Exchange after the company announced bagging the new project. In a separate filing on Tuesday, March 5, J Kumar Infraprojects Ltd informed the stock exchanges about receiving multiple orders, totalling to ₹1,822.7 crore.

The company's joint venture (JV) with SMC Infrastructures Private Ltd, J Kumar -SMC, received a Letter of Acceptance (LoA) worth ₹493 crore from Navi Mumbai Municipal Corporation.

The work order is for the construction of a creek bridge connecting Ghansoli and Airoli along Palm Beach Road at Ghansoli in Navi Mumbai on an engineering, procurement, and construction (EPC) mode. The construction work has to be completed over a 30-month period. J Kumar Infraprojects Ltd holds 70% of the JV with SMC Infrastructures Private Ltd.

The second order was received by J Kumar Infraprojects' JV with RPS, J Kumar-RPS (JV), for the construction of an elevated road corridor from the Eastern Freeway (Orange Gate) to the Grant Road Area.

The Brihanmumbai Municipal Corporation (BMC) project, valued at ₹1,329.71 crore, has to be completed over 42 months.

As per the stock exchange filing, J Kumar Infraprojects holds a 70% stake in JV with RPS.