On March 21, J Kumar Infraprojects shares soared more than 3% in early deals after receiving an order worth Rs 182.34 crore.

At 9:15 am, the company’s shares traded 2.7% higher at Rs 244.95 per share on the BSE. The stock plunged nearly 200% in the past three years but has tumbled about 11% year-to-date.

The business received a Letter of Acceptance from Bangalore Metro Rail Corporation for the construction of the Airport Depot for the Bangalore Metro Rail Project for an aggregate contract price of Rs 182.34 crore.

The order win is under J Kumar – AICPL (Joint Venture), where the share of J Kumar Infraprojects is 55% worth Rs 100 crore.

Previously in March, Nalin Gupta, Managing Director of J Kumar Infraprojects, spoke to CNBC-TV18 in an interaction that all the orders, currently under process and newly bagged, have sections for raw material inflation.

In the first nine months of FY23, the order inflow of Rs 1,670 crore took the order book to Rs 11,210 crore (2.7 times Trailing Twelve Month revenue) with the order’s 52% from the metro segment, said YES Securities.

The company has repeated its order inflow control for FY23 of Rs 5,000 crore, of which 33.8% of orders were accomplished in the first nine months of FY23. Amid a strong order book, healthy bid pipeline, and strong execution, the administration has given revenue guidance of 15% growth in FY24 with robust functioning performance to endure going forward, the brokerage firm added.

J Kumar Infraprojects is among the vital infrastructure player grounded in Mumbai.