Man Infra bags order from Bharat Mumbai Container worth Rs937.89 crore; stock marginally up

13 Apr 2022 , 01:25 PM

Man Infraconstruction Limited informed investors that the company has received a Letter of Acceptance (LoA) from Bharat Mumbai Container Terminal Private Limited (BMCTPL) for the execution of Phase II works at JNPT, Navi Mumbai, Maharashtra being “Reclamation works- Material Supply” for Rs937.89 crore.

Bharat Mumbai Container Terminals Private Limited is a subsidiary of PSA International which is a leading global port player headquartered in Singapore. PSA is working with JNPT to develop this Fourth Container Terminal to cater to the increasing demands for container handling capacity and facilitate maritime trade in the Country.

Commenting on this development, Mr. Manan Parag Shah, Managing Director of Man Infraconstruction Limited said, “Having successfully executed Phase I Infra Works for BMCTPL within a tight time-frame of 22 months, Maninfra Group has achieved confidence of BMCTPL in terms of Maninfra Group’s work quality and capability. We are once again delighted to win this prestigious Letter of Acceptance (LoA). It is one of the biggest single orders received by the company; which is expected to be completed in a time-frame of 2 years.”

Man Infraconstruction is currently trading at Rs119.20 up by Rs0.2 or 0.17% from its previous closing of Rs119 on the BSE. Its scrip has touched intraday high and low of Rs124.40 and Rs118.45 respectively.