Capacit'e Infraprojects Gets Order Worth Rs 1,203 Crore From Signature Global
The construction will be for the Titanium SPR (Phase-1 and 2) at Sector 71, Gurugram.
(Image used for representational purpose. Source: Capacit'e Infraprojects website)
Capacit'e Infraprojects Ltd. has received a work order worth Rs 1,203 crore from Signatureglobal (India) Ltd., which is a new client for the construction company.
The project is for the construction of civil structure and part MEP work for all towers and basements and all other ancillary buildings for Signature Global's housing project. The construction will be for the Titanium SPR (Phase-1 and 2) at Sector 71, Gurugram, the company said in an exchange filing on Friday.
"We remain confident of delivering the project within the stipulated timelines and to client satisfaction," Rahul Katyal, managing director of Capacit'e Infraprojects, said.
Capacit'e is set to clock a 25% top-line growth in the current financial year, Executive Director Subir Malhotra had told NDTV Profit. "I don’t see any issue in achieving those numbers, given the fact on how Q1 numbers have come out."
The company had a bidding pipeline of Rs 15,000 crore to Rs 20,000 crore as of September. There is a strong inflow of fresh orders for Capacit'e, he had said.
The Mumbai-based company has a standalone order book of roughly Rs 8,800 crore in September with 70% of the projects from the government and the remaining 30% from the private sector.
Shares of Capacit'e fell as much as 1.88% during the day to Rs 329.50 apiece on the NSE. It pared the losses to trade 1.37% higher at Rs 340.40 per share as of 3:08 p.m., compared to a 0.28% decline in the benchmark Nifty 50. The share price has risen 74.30% in the last 12 months and 30.78% on a year-to-date basis.
Three analysts tracking the company maintain a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' consensus price target implies a potential upside of 27.1%.
