JTL Infra completes order worth Rs14.6cr under the Jal Jeevan Mission; stock soars 9%

JTL Infra Limited being recognized supplier of GI Pipes with various state governments agencies is receiving continuous orders worth millions under JJM Scheme and is a proud partner in government initiatives to expand the ‘water footprint’ to every household.

Nov 27, 2020 07:11 IST India Infoline News Service

JTL Infra Limited announces that despite the challenges posed by Covid-19 pandemic, it has successfully completed supplies of approximately 2,200 MT GI Pipes, amounting Rs14.6cr to Himachal Pradesh State under Jal Jeevan Mission (JJM) Scheme, whereas supplies to other JJM orders worth millions of rupees are under progress.

The Jal Jeevan Mission (JJM), announced by Prime Minister Narendra Modi aims to provide tap water to all 18 crore rural households by 2024. Presently only 3.3 crore rural households have access to piped water. This means 4.5 times more houses have to be linked to piped water in these five years than has been done in the past 72 years.

The mission constitutes one of Government of India’s biggest infrastructure outlays. Rs3.5 lakh cr (~$50 billion) will be spent on the project. That comes to Rs0.7 lakh cr a year on cement, pipes, pumps, equipment, construction, wages, conservation, revival of water bodies, skill building, institution creation — everything. Spent wisely, this will be a boon not just to rural society, health and equity, but also to the rural economy, said the company.

JTL Infra Limited being recognized supplier of GI Pipes with various state governments agencies is receiving continuous orders worth millions under JJM Scheme and is a proud partner in government initiatives to expand the ‘water footprint’ to every household.

Commenting on the occasion Dhruv Singla, CFO of the Company said, "We are constantly receiving inquiries and orders under Jal Jeevan Mission schemes from various state government agencies and has been able to continue supplying GI Pipes despite the restrictions caused by Covid-19 outburst. Award of these JJM orders is an endorsement of continuing acceptability and suitability of company’s products and we are confident of receiving further big orders under JJM, Jal Shakti Abhiyan and other government schemes.

GI Pipes have been the biggest contributors in JTL Infra’s revenue so far and we are confident of getting largest pie of the government’s planned expenditure for proving potable water to each and every household in next 5 years and to ensure timely quality supplies against these orders, we have recently acquired ready to use manufacturing facilities at Mandi Gobindgarh.”

JTL Infra was trading at Rs168.50 per piece up by Rs14.5 or 9.42% from its previous closing on the BSE, at around 1.30pm

Related Story