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JMC Projects Share Surges 5% on Orders Worth Rs 1,342 Cr

The construction engineering firm, JMC Projects Ltd. on Thursday said that it had bagged orders worth around Rs 1,342 crore in the domestic and international markets.

The company in a BSE filing said that it had won infrastructure projects worth Rs 725 crore in East Asia. It has also secured water supply projects worth around Rs 471 crore in Odisha and a building project of Rs 146 crore in North India.

The new order win in East Asia will enable the company to expand its presence in the international markets, said S K Tripathi, CEO and Deputy Managing Director of JMC Projects Ltd. He said, “In the current year we have received orders exceeding Rs 5,300 crore against the initial guidance of Rs 5,000 crore, accordingly based on current prospects we are revising our order inflow target to Rs 7,500 crore for 2020-21.”

“Our strong and diversified order book will help us to deliver on growth and profitability targets going forward,” added S K Tripathi.

JMC Projects (India) Ltd. is a subsidiary of Kalpataru Power Transmission Ltd.

Shares of JMC Projects Ltd. were trading at a high of 4.99 per cent at Rs 55.80 per share on BSE.

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