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J Kumar Infra wins a ₹298 crore contract from Pune Municipal Corporation for Mula river development, targeting project completion within 36 months.
J Kumar Infraprojects Ltd., a notable player in the infrastructure sector, has announced securing a lucrative contract from the Pune Municipal Corporation. The contract, valued at approximately ₹298 crore, entails the development of the Mula River stretching from the Wakad Bypass to Sangvi Bridge, encompassing three distinct segments.
The comprehensive project aims to enhance the Mula River's infrastructure and accessibility, spanning a considerable stretch of the river. The development is scheduled for completion within a 36-month timeframe, indicating a robust construction schedule designed to improve the urban landscape efficiently.
This new project is expected to significantly contribute to J Kumar Infra's financial growth and operational capacity. In a recent financial outlook shared in August, the company projected a 15% increase in its topline for the current fiscal year, aiming to reach a target of ₹5,700 crore. Moreover, J Kumar Infra's management has set an ambitious goal of accruing ₹6,000-8,000 crore in new project inflows over the next year.
As of June 30, 2024, J Kumar Infra's total order book stood impressively at ₹19,820 crore. The company's shares reflected a positive market response, closing 0.5% higher at ₹740 on the announcement day. The stock performance has been robust throughout 2024, marking a 25% rise, with a notable 65% gain over the past 12 months.
The awarded project is part of a larger initiative to improve infrastructure and connectivity in Pune, one of India's fast-growing urban centres. The development of the Mula River is anticipated not only to boost J Kumar Infra's project portfolio but also to play a crucial role in the city's broader urban development strategy.
The securing of this substantial contract by J Kumar Infra is poised to add significant value to its shareholders and reinforce its market position as a leading infrastructure development firm. The project underscores the company's capability in handling major urban infrastructure projects, promising substantial returns on investment through enhanced service delivery and operational excellence.
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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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