J. Kumar Infraprojects Ltd on Wednesday, April 1, said its joint venture has received a Letter of Acceptance from the National Highways Authority of India (NHAI) for an expressway project worth ₹2,360 crore.
The project has been awarded to J. Kumar–SDPL (JV) and involves the construction of a four-lane expressway, expandable to eight lanes, to improve connectivity to the proposed Vadhavan Port in Maharashtra.
The stretch will run from Vadhavan Port to Tawa Village on NH-48, covering a design length of 32.18 km, the company said in an exchange filing.
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The project will be executed on an engineering, procurement and construction (EPC) basis and is scheduled to be completed within 30 months.
J. Kumar Infraprojects said the order is domestic in nature and does not fall under related-party transactions. The company also clarified that neither its promoter group nor associated entities have any interest in the awarding authority.
The project is aimed at enhancing connectivity to the upcoming Vadhavan Port, a key infrastructure development in Maharashtra, and is expected to support regional logistics and transport efficiency.
Following the announcement, shares of the company surged nearly 10% and were trading 468.40 as of 12.30 pm. The stock has delivered a negative return of 31% over the last 12 months.
