JMC Projects India gets orders worth Rs. 1058 crore

JMC Projects announced on Friday that it has bagged two orders worth Rs 1058 crore. Out of which, one order worth Rs 531 crore is for the construction of a residential building in Thane; and second one worth Rs 527 crore is for the development of two commercial buildings in Bengaluru.

JMC Projects India is a subsidiary of Kalpataru Power Transmission Ltd., and one of the leading contracting firms of India. It is one of the few construction companies certified under ISO 9001:2000 quality management system, by TUV Management Services of Germany. It provides services of the order of construction of industrial and residential buildings, civil projects and power and infrastructure development projects.

In past few quarters company has successfully increased their presence in government projects. It would enhance their growth sustainability going forward. CEO of JMC Projects India said that their strong credibility with focused clients has led to repetition of orders, which has resulted in the establishment of a stronger order book. It speaks of a healthy and profitable growth over the next 2 years.

As of September 2016, JMC Projects India has an order book of around Rs 5400 crore. Company has secured almost 20% of the total order book in the form of new orders. Around 75% of total order book is from factories and buildings; and 25% from infrastructure segment and others.

Kalptaru Power Transmission Ltd (KPTL) also bagged new orders worth Rs 1200 crore, on Thursday. The stock has touched 52 week high of Rs 329 on Thursday. KPTL is an EPC firm, engaged in power transmission and distribution, oil and gas pipeline, railways, infrastructure development, civil contracting, warehousing and logistics business.

Today, stock of JMC Projects India opened at Rs 270, almost 3% higher than yesterday's closing of Rs 260. It touched intraday high of Rs 273.6 in today's trade, supported by the winning of orders.