J Kumar bags LoA for contract from MCGM

J Kumar Infraprojects said that 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 LoA awarded is for the proposed re-construction of Siddharth Municipal General Hospital on land at Siddharth Nagar, Goregaon (W), in the P/S ward for a total lumpsum contract cost of Rs 3,523,049,980. The company's net profit surged 93% to Rs 620 billion in Q1 FY23 from Rs 320 billion in Q1 FY22. Revenue from operations during the quarter increased by 47% YoY to Rs 9.94 billion.