Capacit'e Infraprojects bags ₹295-cr project, stock gains 3%; details

Shares of civil construction company Capacite Infraprojects climbed 3.20 per cent to ₹383 per share on the BSE during intra-day trade on Wednesday, April 16. The upward move in the company's share price came after the news that the company received a Letter of Acceptance (LoA) from Indus Co-operative Housing Society for a total contract value of ₹295 crore, excluding GST.

 

According to the exchange filing, the order is for the construction of a Residential Building with Allied Commercial Building No. 01 and Residential Building No. 02 at CS No. 2/4, Saltpan Division, Shivadi-Chembur Road, Wadala, Mumbai-31.

 

“We are delighted to be entrusted by the Indus Co-operative Housing Society for their project in Mumbai. We’re grateful for their trust and belief in our capabilities, further solidifying our position as a preferred partner for high-profile projects. We’re focused on securing quality orders from both existing and new clients across public and private sectors, leveraging our growing execution capabilities,” said Rahul Katyal, managing director, Capacite Infraprojects.  Follow Stock Market LIVE Updates today here

 

Capacite Infraprojects' shares continued to trade higher during the session. At around 12:24 PM on Wednesday, the company's shares were trading at ₹379.80 apiece, up 2.34 per cent from the previous close of ₹371.10 on the BSE. A combined total of nearly 23.97 million equity shares of Capacite Infraprojects, estimated to be worth around ₹250.69 crore, exchanged hands on the BSE and NSE.

 

At the same time, the benchmark equity indices – BSE Sensex – were higher by 27 points, or 0.04 per cent, at 76,762 levels, and the Nifty50 traded 26 points, or 0.11 per cent higher, at 23,354 levels.

 

Capacite Infraprojects is a boutique engineering, procurement, and construction (EPC) company with a presence in both public and private sectors. Established in 2012, the company specializes in building construction, project design, EPC works, MEP works, and management services for leading real estate developers and government bodies across India. Capacite provides end-to-end construction services for high-rise and super high-rise buildings, townships, mass housing, etc., in the residential space; office complexes, IT & ITES parks in the commercial space; and hospitality, healthcare facilities, industrial buildings, MLCPs in the institutional space. 

 

As of April 16, the company's market capitalisation stands at ₹3,213.26 crore.

 

Capacite Infraprojects' shares have declined nearly 14 per cent year-to-date. In comparison, the benchmark Nifty50 has dropped around 2 per cent during the same period.