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Capacit'e Infraprojects receives Rs. 4502 crore contract from CIDCO

Posted On: 2019-09-06 13:26:28

Capacit'e Infraprojects Limited, has received maiden order from City & Industrial Development Corporation of Maharashtra (CIDCO), for a contract value of Rs. 4,502 Crore (excluding GST) for construction of approximately 21,346 dwelling units with development of commercial area and onsite infrastructure works at Navi Mumbai.

Commenting on the same, Mr. Rahul Katyal, Managing Director said, "It gives us immense pleasure to announce the receipt of a very prestigious contract from City and Industrial Development Corporation of Maharashtra worth Rs. 4,502 Crores (excluding GST) to be completed within 42 months. With this we add another high quality name in our elite clientele. We remain confident of delivering the project within the stipulated timelines and to client satisfaction. At Capacit'e, it is our continuous endeavour to add quality orders from existing and new clients, both in public and private sector and we are confident on the growing execution capabilities of the company.

This contract provides a fine balance to our order book, with almost equal share of public sector & private sector of the total order backlog. Based on our execution capabilities and proven track record we have been able to develop a well-diversified order book. Our philosophy of focusing on existing geographies and to associate with only eminent names is paying off.

Capacit'e today stands at a positive deflection point, with the increasing market share of Branded private Sector developers, resulting into repeat orders from existing clients, increasing investments in the commercial, institutional and healthcare segments and huge opportunities available in the Public Sector arising from Government schemes such as the Pradhan Mantri Awas Yojana (PMAY).

As a sector focused construction Company, a varied order book from some of the most prominent clients from private as well as public sector, lean balance sheet and a flexible management with adaptability to change, we have carved a niche in the Factory & Building (F&B) space within a short span of time.

With an order book which provides revenue visibility of 3.5 to 4 years and a healthy pipeline we remain confident of continuing our strong performance in the foreseeable future."

Shares of Capacite Infraprojects Ltd was last trading in BSE at Rs.202.4 as compared to the previous close of Rs. 199.25. The total number of shares traded during the day was 6136 in over 467 trades.

The stock hit an intraday high of Rs. 205 and intraday low of 198.05. The net turnover during the day was Rs. 1243371.

Source: Equity Bulls

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