JMC Projects surges 13% on winning project worth Rs 1,000 crore in Maldives

The company has signed an agreement with Fahi Dhiriulhun Corporation Limited (FDC) for the design, finance and construction of 2,000 social housing units in Hulhumale Island of Maldives

Shares of JMC Projects rallied 13 per cent to Rs 88.80 on the BSE in intra-day trade on Tuesday after the company said it has signed an agreement with Fahi Dhiriulhun Corporation Limited (FDC) for the design, finance and construction of 2,000 social housing units in Hulhumale Island of Maldives.

FDC is a state-owned company of the Government of the Republic of the Maldives. JMC Projects (India), a subsidiary of Kalpataru Power Transmission, is one of India's leading contracting company.

“The total value for this project is estimated to be around $137 million (around Rs 1,000 crore) and is planned to be