Capacite Infra surges 51% in 1 month on improved operational performance

The company said the project awarding has seen an uptick and will likely gain further momentum in the coming quarters

Shares of Capacite Infraprojects (CIL) hit a 52-week high of Rs 193.35, gaining 5 per cent on the BSE in Tuesday's intra-day trade. The stock of the civil construction company surpassed its previous high of Rs 192.35, touched on September 13, 2022.

In the past one month, the stock has zoomed 51 per cent on improved operational performance. In comparison, the S&P BSE Sensex was up 1.4 per cent during the period.

CIL is a fast-growing construction company providing end-to-end services for residential, commercial, and Institutional building with a presence in Mumbai Metropolitan Region (MMR), Gandhinagar, Pune, Goa, Chennai, National Capital Region (NCR), Kochi, Hyderabad, and Bengaluru.

The strong impetus from the government for housing sector in the recent budget announcement and favourable policies are very positive for the sector and overall economy.

The project awarding has seen an uptick and will likely gain further momentum in the coming quarters. The management is confident of achieving guided order booking of Rs 2,100 crore to Rs 2,200 crore for the current financial year.

As on March 31, 2023, the company's order book, on standalone basis, stood at Rs 9,513 crore. Public sector accounts for 70 per cent while private sector accounts for 30 per cent of the total order book.

For the financial year 2022-23 (FY23), CIL had posted a strong 95 per cent year-on-year (YoY) jump in its profit after tax at Rs 94 crore. Revenue from operations grew 34 per cent YoY at Rs 1,791 crore. Reported earnings before interest, taxes, depreciation, and amortization (Ebitda) margin increased 290 bps YoY to 20.0 per cent.

Last month CIL had announced that it has won order worth Rs 224 crore from Raymond (realty division) for residential project- TenX Era at Thane. The management said the company remains confident of delivering the project within the stipulated timelines and to client satisfaction.

In April, CIL had received order worth Rs 478.08 crore from Godrej Residency Private Limited (Godrej Group) for construction of residential towers at Mahalaxmi, Mumbai.