NCC, J Kumar gain on bagging Mumbai twin-tunnel project

The Rs 6,301.08 crore Mulund-Goregaon twin tunnels will significantly reduce the travel between Mumbai’s western suburbs and the east

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NCC and J Kumar Infraprojects shares were trading 4 and 1 percent higher on September 22 afternoon after their joint venture bagged the Rs 6,301.08 crore Mulund-Goregaon twin tunnel project in Mumbai.

The companies told the exchanges that NCC would carry out works worth 51 percent of the amount and remaining 49 percent would be executed by J Kumar Infraprojects.

Both companies are expected to “design, construct and operate twin tunnels from Film City Goregaon to Khindipada in Mulund, including a box tunnel at Film City, Electrical, Mechanical and associated works,” the filings said.

Execution of the twin-tunnels is expected to reduce travel time from the western suburbs of Mumbai to the east significantly. This is also expected to reduce traffic congestion along the Jogeshwari-Vikhroli Link Road and Ghodbunder roads.

At 2.45 pm, NCC  was quoting at Rs 150.90 on the NSE, up Rs 1.45, or 0.97 percent, from the previous close.  J Kumar Infraprojects  was up 2.24 percent at Rs 403.20.

In the June quarter, the NCC reported a 31.88 percent year-on-year (YoY) rise in revenue at Rs 4,380 crore. Net profit was up 34.30 percent at Rs 184 crore. The operating profit margins remained flat at 9 percent.

During the same period, J Kumar Infraprojects reported a 14 percent YoY rise in revenue at Rs 1,131. The EBITDA margin was up 20 basis points at 14.3 percent in the quarter under review. EBITDA is short for earnings before interest taxes depreciation and amortisation.

NCC and J Kumar Infraprojects are in the business of executing large-scale infrastructure projects.

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