Capacite Infra rallies on Rs. 4502 crore order win

Mumbai-based infrastructure company, Capacit’e infra bagged new order worth Rs. 4502 crore for construction work of road stretch in Navi Mumbai.

Capacite Infraprojects 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. The stated order is to be completed within 42 months. The management in a press release further added that the current order book gives revenue stability of around 3.5 to 4 years.

Capacite Infraprojects is a Mumbai based construction company, with business majorly focused on residential, commercial and institutional buildings. The company has its presence in MMR, NCR, Bengaluru, Hyderabad, Chennai, Kochi and Pune. It has specialization in construction of super high rise buildings.

The stock reacted positively to the news and touched intra-day high of Rs. 219.15, up 9.3 per cent higher). It closed at per share price of Rs. 207.20, up by 3.37 per cent on BSE. The benchmark index BSE Sensex ended the session at 36,981, up by 337 points.