KBC Global Ltd bags subcontract worth $20 million for soft infrastructure segment from CRJE Ltd

KBC Global Ltd (previously known as Karda Construction Limited) (BSE - 541161), a prominent player in the construction and real estate development sector, has been awarded a significant subcontract worth approximately US $20 million by CRJE (EAST AFRICA) Ltd. CRJE is a modern enterprise with a rich history in constructing railways and five-star hotels across Africa.

Highlights:

• Company’s wholly owned subsidiary, Karda International Infrastructure Ltd received this contract
• KBC Global has taken its first step in becoming a key part of Africa’s Infrastructure development 
• Company has also announced strategic plans for expansion in both domestic and international markets 

This substantial contract focuses on the civil engineering segment of soft infrastructure and represents a major milestone for KBC Global. The contract was secured through KBC Global’s wholly-owned Kenyan subsidiary, Karda International Infrastructure Limited, underscoring the company’s expanding footprint in the African market.

The contract award highlights KBC Global’s growing capabilities and reputation in international infrastructure development. This project is a testament to the company’s commitment to contributing to Africa’s infrastructure growth, marking its first major step in becoming a key player in the continent’s development. With this achievement, KBC Global is poised to make significant contributions to East Africa’s infrastructure landscape, aligning with the region’s ambitious growth and development goals.

Originating from the TAZARA Construction Aiding Team of the Jianchang Engineering Bureau under the China Ministry of Railways, CRJE is also part of the prestigious China Railway Construction Group company, established to drive business development in East Africa.

Established in 2007, the company has made significant strides in the real estate industry, specialising in the development and sale of residential and residential-cum-office projects in Nashik, India. The company operates primarily in two segments: construction and development of residential and commercial projects, and contractual projects. Notable projects of the company include Hari Gokuldham, Hari Nakshtra-ll Eastext Township, Hari Sanskruti ll, Hari Siddhi, and Hari Samarth, among others.

The company has also announced strategic plans for expansion in both domestic and international markets. In April 2024, its board of directors considered and approved the conversion of total 60 bonds into equity shares as per the terms and conditions of the issue of FCCB.

On June 4, 2024, the company announced that it had successfully handed over possession of 12 units from its residential cum commercial project Hari Kunj Mayflower (RERA Reg No. P51600020249) during the months of April and May 2024. On the occasion of Gudi Padwa, the company successfully handed over possession of 54 units of the project Hari Kunj Mayflower (MAHARERA Reg no : P51600020249), a residential cum commercial project situated at Karmayogi Nagar, Nashik ,Maharashtra.

The real estate sector is poised for continued growth, driven by factors such as supply and demand dynamics, regulatory frameworks, and overall economic conditions. Government initiatives like 'Housing for All' and the Pradhan Mantri Awas Yojana further underscore the growth potential in the industry. Additionally, infrastructure megaprojects such as highways, airports, and metros are contributing to the expansion of the real estate market.

In the financial year 2022-2023, Karda Construction Limited reported revenues of Rs 10,818.56 lakh.

(This article is part of IndiaDotCom Pvt Ltd’s Consumer Connect Initiative, a paid publication programme. IDPL claims no editorial involvement and assumes no responsibility, liability or claims for any errors or omissions in the content of the article. The IDPL Editorial team is not responsible for this content.)