J Kumar Infraprojects Ltd.    
10 Aug 2018
128.00
0.59%
HDFC Securities
We maintain BUY with a TP of Rs 415/sh (15x Mar-20E EPS) JKIL continued to demonstrate strong execution pace, posting revenue of Rs 6.2bn coming 18.3% above our estimates. With the DMRC project now practically over margins improved 293bps YoY to 16.2%. Metro Lines 2,3 and 7 and the JNPT projects are particularly driving the revenues with quarterly run rates of Rs 3.7bn and 1.3bn respectively.
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Promoters pledge reduced to 23.96% of holdings in Dec 2018 qtr.
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