JMC Projects eyes over Rs 300 crore turnover

The Ahmedabad-based JMC Projects India Ltd, a company engaged in implementation of industrial, infrastructural and institutional projects, has bagged a project worth Rs 25 crore from Syntel International Pvt Ltd, a US-based company, for construction of its global software development centre at Talawandi in Pune.

"This is a very prestigious project for us. We expect to complete the project within 11 months," said Sanjiv Kothari, deputy general manager, finance and costing, JMC Projects India.

The scope of execution in the construction of the centre includes construction of corporate block, software block, food court, dormitories, store, security block, amphitheater, power block and other facilities like parking, footpath, jogging track, landscaping and security cabins.

The company reported a turnover of Rs 210 crore for the financial year 2002-03. It is planning to post a turnover of more than Rs 300 crore in the current financial year. The order backlog position of the company as on March 31 stood at Rs 278 crore and the company has bagged projects worth Rs 100 crore in the first two months of the current financial year.

"In view of the excellent order book position, the company is confident of high growth in turnover and expects better profitability in the current financial year. The company has bagged projects with reasonable margins. In many projects, steel and cement are supplied by clients, so the company has been able to mitigate the risk of volatility in price of steel and cement," said Kothari.

JMC's other projects include, Delhi Metro Rail Corporation's Rs 62 crore order for construction of six stations and the Himachal Pradesh government's Rs 50 crore project for construction of a 500-bed hospital.

It is also working on construction of a new campus for the Indian Institute of Management, Ahmedabad, at a cost of Rs 25 crore. The company has completed infrastructure projects such as construction of CG Road in Ahmedabad, Ahmedabad-Mehsana Road and Godhra-Shamlaji Road.

Kothari said the company has forayed into the infrastructure business segment encompassing construction of roads, highways, bridges and flyovers.

The company is also taking up various other urban infrastructure projects such as constructing townships and multilateral parking facilities.

The company is focusing on large-value projects in the infrastructure segment by formation of joint ventures with major national and international players.