Man Infra bags LoA for contract worth Rs 938 cr

Man Infraconstruction said that it has received letter of acceptance (LoA) from Bharat Mumbai Container Terminal (BMCTPL) for a contact worth Rs 937.89 crore.

The contract is for supplying materials for the reclamation works being done under the second phase (Phase-II) of the works at JNPT, Navi Mumbai, Maharashtra.

Bharat Mumbai Container Terminals is a subsidiary of the PSA International, a leading global port group headquartered in Singapore. PSA is working with JNPT to develop fourth container terminal to cater to the increasing demands for container handling capacity and facilitate maritime trade in the country.

Commenting on this development, Manan Parag Shah, managing director of Man Infraconstruction, said, "Having successfully executed Phase-I Infra Works for BMCTPL within 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) which is one of the biggest single order awarded to the company; which will be executed in a time-frame of 2 years."

Man Infraconstruction (ManInfra) is an integrated EPC (engineering, procurement and construction) company with five decades of experience and execution capabilities in port, residential, commercial & industrial and road construction segments with projects spanning across India. As a real estate developer, Maninfra Group has delivered 7 residential projects in Mumbai.

The company's consolidated net profit surged to Rs 34.81 crore in the quarter ended December 2021 as against Rs 12.73 crore during the previous quarter ended December 2020. Sales rose 94.73% to Rs 296.52 crore in Q3 FY22 from Rs 152.27 crore in Q3 FY21.

The scrip advanced 0.92% to currently trade at Rs 120.10 on the BSE.

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