JMC Projects shares up 2.3% on bagging project orders worth Rs 1,451 cr

Civil Engineering and EPC firm JMC Projects (India) Limited announced on Friday that it has secured new water project orders in India worth Rs 1,451 crore. JMC Projects' stock rose 2.30 per cent to Rs 121.25 after the firm's announcement.

JMC Projects (India) MD and CEO SK Tripathi said: "We are pleased with the new order wins in our water business. These orders will contribute significantly towards the growth of the water business and further widen our client portfolio."

"With these orders, our YTD FY22 order inflows have surpassed Rs 6,000 crore with a strong growth over last year. The current order book along with above orders will help us to deliver consistent growth over the next few years," he added.

For the April-June quarter of the current fiscal, the firm posted a net loss of Rs 10.5 crore compared to a net loss of Rs 52.21 crore in the June-end quarter of the previous fiscal. The company's total income jumped from Rs 474.99 crore in Q1 of FY21 to Rs 1,129 crore in the April-June quarter of FY22.

JMC Projects (India), a civil construction and infrastructure EPC Company in India, is an arm of Kalpataru Power Transmission Limited.

It has developed expertise in areas like highways, expressways, bridges, flyovers, townships, high-rise buildings, commercial buildings, IT-ITES parks, hospitals, educational complexes, industrial units, metro rail, water supply and power plants.  

JMC has expanded its operations in the international EPC market with a presence in Sri Lanka, Ethiopia, Mongolia and Maldives. The company had an order book worth Rs14,009 crore ($1.9 billion) in the fiscal year ended March 31, 2021.

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