NCC Limited on Friday announced that its joint venture formed between the company and J Kumar Infra Projects, has been awarded a contract worth Rs 6,301.08 crore (net of GST), wherein the share of works to be executed by NCC works out to Rs 3,213.55 crore approximately. “We are to inform you that 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,” the company said in a regulatory filing.
NCC said that the sharing ratio of the parties in the joint venture is 51 per cent for NCC and 49 per cent for JKIL. It further added that the project will be executed by a Special Purpose Vehicle to be formed for this purpose. The duration of the Project, NCC said, is 5 years and O&M is for 10 years.
Earlier in August, NCC had posted its results for the first quarter of FY24. It had recorded a 33.9 per cent jump in its consolidated net profit to Rs 173.54 crore for the quarter ended June 30, 2023, on the back of higher execution during the quarter. Revenue from operations jumped 31.9 per cent to Rs 4,380.39 crore during the quarter. During 2022-23, NCC had received order inflows of about Rs 26,000 crore on the back of higher outlay by the government under the National Infrastructure Pipeline (NIP). NCC had ended 2022-23 with an order book of Rs 50,244 crore.