Capacite Infraprojects gains on bagging contract worth Rs 384 crore

Mumbai-based infrastructure company, Capacite Infraprojects Limited (CIL) announced today that it has received a contract worth Rs 384.66 crore from marquee private sector clients.   

The contract received is for the construction of super high rise residential buildings amounting to Rs 149.66 crore, the construction of high rise residential buildings amounting to Rs 136.30 crore and the scope enhancement of an existing project for Rs 98.70 crore.   

The above order adds to the already large order book of the company, which stood at Rs 8,720 crore as of March 2021. Around 62 per cent of the current order book comes from the public sector (CIDCO, MCGM & Others), while 38 per cent is contributed by the private sector.    

Meanwhile, the company posted a positive set of numbers during the quarter, with revenue rising 20.09 per cent YoY to Rs 368.96 crore from Rs 307.25 crore in the year-ago period. In comparison, the total expenditure increased by 16.53 per cent YoY to Rs 302.53 crore. Lower expenses aided the PBIDT (ex OI), which was reported at Rs 66.43 crore, up by 39.48 per cent YoY. PAT increased to Rs 24.39 crore, from the low base of Rs 3.83 crore last year. CIL has a lean balance sheet with negligible debt and high net worth.   

At 1.31 pm on Tuesday, the stock of Capacite Infraprojects Limited was trading at Rs 211.90, up by 1.19 per cent or 2.50 per share as against a 0.49 per cent gain in the benchmark index. The 52-week high and 52-week low of the scrip is Rs 229.90 and Rs 89.95, respectively.