NCC Ltd - J Kumar Infraprojects Ltd JV Wins Massive Order Worth Rs 6301.08 Crores

NCC Ltd in an exchange filing on September 22, 2023, informed that J. Kumar Infraprojects Limited - NCC Ltd JV has receipt of Letter of Acceptance (LoA) dated September 21, 2023, for Rs.6,301.08 Crores project. The sharing ratio of the parties in the JV is NCC (51%) & J. Kumar Infraprojects (49%).

The project is for the Design construction and operation of a twin tunnel from Film City Goregaon to Khindipada (Amar Nagar) Mulund including Box Tunnel at Film City, Electrical, Mechanical and associated works from M/s. Brihanmumbai Municipal Corporation (BMC).

The Board of Directors of NCC in an exchange filing stated, "the Joint Venture (JV) formed between the Company and J. Kumar Infra Projects Limited (JKIL) has been awarded the contract relating to "Design, Construction and Operation of twin tunnel from Film City Goregaon to Khindipada (Amar nagar) Mulund including box tunnel at Film City, Electrical, Mechanical and associated works" by Brihanmumbai Municipal Corporation vide LOA dated 21-09-2023. The sharing ratio of the parties in the JV is NCC (51%) & JKIL (49%). The value of the contract awarded is Rs.6,301.08 Crores (net of GST) and in terms of the contract conditions the project will be executed by a Special Purpose Vehicle to be formed for this purpose. The share of works to be executed by NCC works out to Rs.3,213.55 Crores approximately. The duration of the Project is 5 years and O&M is for 10 years."

NCC shares on Friday closed 0.54% higher at Rs 150.30 apiece on the BSE. The stock gained 3.44% in 1 week. It gained 11.65% in 1 year. It gave 387.99% robust return. It has a market cap of Rs 9,436.53 Crore.

Meanwhile, J. Kumar Infraprojects shares rallied 2.45%, ended at Rs 403.55 apiece. However, the stock declined 0.85% in 1 week, and 0.46% in 1 month, respectively. It has given 40.53% in 1 year. It has given a robust return of 115.98% in 2 years, and 298.37% in 3 years, respectively. It gave 67.80% in positive return in 5 years. Its market capitalisation is Rs 3,053.48 Crore.