The construction engineering company has informed the bourses that the Mumbai Metropolitan Region Development Authority (MMRDA) has awarded it with a Letter of Acceptance (LoA) for designing and constructing an elevated road in Thane.

As per the details of the project, J Kumar Infraprojects will design and construct an elevated road in Thane city from Anand Nagar to Saket on the Eastern Highway.

The total cost of the contract amounts to ₹1,847.72 crore, excluding GST charges. The time duration in which the project needs to be completed is set as 48 months.

Shares of J Kumar Infraprojects gained 3.13% on October 3, recording an intraday high of ₹803.95 per piece on the BSE. It was seen trading flat in the afternoon session, up 0.36% at ₹782.35 apiece at 12:25 pm.

In an interview with CNBC-TV18 on August 7, the Managing Director of J Kumar Infraprojects, Kamal Gupta said that the company is targeting an over 15% increase in revenue for the current financial year to Rs 5,600-5,700 crore.

The company posted an almost 19% rise in consolidated profit after tax (PAT) at ₹86 crore in the April-June 2024 quarter, while its total order book stood at ₹19,820 crore as of June 30, 2024.