J Kumar bags LoA for contract from MCGM

J Kumar Infraprojects said it has received a letter of acceptance (LoA) from the Municipal Corporation of Greater Mumbai (MCGM) for a total lump sum contract cost of Rs 3.52 billion.

The awarded LoA is for the proposed reconstruction of Siddharth Municipal General Hospital on land in Siddharth Nagar, Goregaon (W), in the P/S Department for a total flat-rate contract cost of Rs 3,523,049,980.

The company's net profit rose 93% to Rs 620 billion in Q1 FY23 from Rs 320 billion in Q1 FY22. Operating revenue during the quarter increased 47% year-on-year to Rs 9.94 billion.

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