In a significant development, NCC Limited has partnered with J Kumar Infra Projects to secure a substantial contract from the Brihanmumbai Municipal Corporation (BMC) valued at Rs 6,301.08 crore, excluding GST. This project involves the design, construction, and operation of twin tunnels stretching from Film City Goregaon to Khindipada (Amar Nagar) Mulund, including the creation of a box tunnel at Film City, along with associated electrical and mechanical works.
The joint venture (JV) between NCC Limited and J Kumar Infra Projects Limited (JKIL) has emerged as the recipient of this prestigious contract. NCC’s share of the project is approximately Rs 3,213.55 crore, while JKIL’s share stands at 49 percent. To oversee the execution of this project, a dedicated Special Purpose Vehicle (SPV) will be established. The project’s timeline spans five years, with an additional ten-year commitment for operation and maintenance (O&M).
In related news, NCC Limited reported robust financial performance for the first quarter of FY24. The company witnessed a remarkable 33.9 percent surge in its consolidated net profit, amounting to Rs 173.54 crore, for the quarter ending June 30, 2023. This remarkable growth was driven by heightened project execution during the period. Furthermore, NCC’s revenue from operations also witnessed substantial growth, surging by 31.9 percent to reach Rs 4,380.39 crore during the same quarter.
During the fiscal year 2022-23, NCC Limited secured order inflows worth approximately Rs 26,000 crore, largely attributable to increased government investments in the National Infrastructure Pipeline (NIP). As a result, NCC closed the fiscal year with an impressive order book of Rs 50,244 crore, signaling a promising trajectory for the company’s future endeavors.
About NCC Ltd:
NCC Ltd traces its origins back to 1978 when it was established as a partnership firm by the esteemed Padma Sri Awardee, Dr. AVS Raju, who serves as the Founder and Chairman Emeritus. In 1990, NCC underwent a transformation, becoming a limited company, and subsequently, it joined the National Stock Exchange in 1992.
About J Kumar Infra:
J Kumar Infra is categorized as a publicly traded company situated in Mumbai City, Maharashtra. Its authorized share capital amounts to INR 40.00 crore, while the total paid-up capital stands at INR 37.83 crore. As for J. Kumar Infraprojects Limited’s financial performance, its operating revenues exceeded INR 500 crore for the fiscal year ending on 31 March 2022.
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