At the end of March 2024, the Mumbai-based builder of metro networks, roads and bridges had an order book of ₹21,011 crore and revenue of ₹4,879 crore.
Essentially, CEO Kamal Gupta expects revenue to grow 1.7 times by March 2027.
Over the last three years, JKumar Infraprojects has seen its annual revenue grow 1.9 times from ₹2,571 crore at the end of March 2021 to ₹4,879 crore at the end of March 2024.
During the same period, the company’s stock price jumped more than 2.5 times.
The bulk of Gupta’s business comes from Maharashtra and Tamil Nadu. “65% of the order book comes from the Western state and another 20% from Tamil,” he explained in a conversation with CNBC-TV18.
Most recently, in May 2024, the company became the lowest bidder for projects worth ₹4,700 million. “This includes a multi-modal corridor from Virar to Alibaug costing ₹1,400 crore,” he said. The execution time for this project is three years.
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The company has secured a few projects this year from the Brihanmumbai Municipal Corporation (BMC), the civic body of India’s financial capital.
“Goregaon-Mulund Link Road – including ₹7,500 crores in a joint venture, so our share will be ₹3,500 million. Plus the coastal road Versova-Dahisar (₹2,500 crores in JV, our share will be ₹1,300 crore) and construction of an elevated road corridor between Eastern Expressway (Orange Gate) and Grant Road area,” he said.
The market suspects at least two risks for the company: the upcoming elections in the state of Maharashtra and the recent increase in the cost of capital due to the Reserve Bank of India’s new norms for project financing.
Gupta is not seeing any slowdown in his business due to any of the two factors mentioned above.
“All these orders have already been received and the execution of the projects has already started,” he said.
For the fourth quarter of FY24 (y-o-y), revenue increased 26% to ₹1,425 crores ₹1,134 crore, EBITDA increased by 27.3% to ₹203.2 crores, compared to ₹160 crore, margin improved marginally to 14.3% from 14.1% and net profit jumped 34.9% to ₹99.7 crores, against ₹73.8 million.
To learn more, watch the accompanying video
Read also | J Kumar Infra wins ₹912.3 crore coastal road construction project of CIDCO
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