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Capacit'e Infraprojects bags Rs 4,502 crore project from CIDCO of Maharashtra


Capacit'e Infraprojects Ltd said on Friday it has received a Rs 4,502 crore order from City and Industrial Development Corporation (CIDCO) of Maharashtra for construction of 21,346 dwelling units with development of commercial area and onsite infrastructure works at Navi Mumbai.

"We are confident of delivering the project within the stipulated timeline of 42 months and to client satisfaction," said Managing Director Rahul Katyal. "This contract provides a fine balance to our order book, with almost equal share of public sector and private sector of the total order backlog," he said in a statement.

Katyal said 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).

"With an order book which provides revenue visibility of three-and-a-half to four years and a healthy pipeline, we remain confident of continuing our strong performance in the foreseeable future," said Katyal.

Capacit'e Infraprojects is a leading building construction company having a presence in Mumbai Metropolitan Region, National Capital Region, Bengaluru, Hyderabad, Chennai, Kochi and Pune. It has specialisation in the construction of super high-rise buildings.


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 06 2019. 15:24 IST