J Kumar Infra - Execution Pickup Drive Strong Revenues In Q3: Prabhudas Lilladher
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Prabhudas Lilladher Report
J Kumar Infraprojects Ltd. reported a strong set of numbers with revenues and margins coming in above our and street estimates on the back of better than anticipated execution levels.
Major part of the company’s order book of Rs 109 billion is already in execution, while the new projects (Worli elevated corridor and Surat Metro) would start contributing to revenues from Q1 FY22E.
On the back of sharp execution pickup, strong order book and healthy bid pipeline, management raised its guidance for FY21 revenues to Rs 24-25 billion (earlier Rs 22 billion) while maintaining its FY22 guidance at approximately Rs 35 billion topline.
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