Capacit’e Infraprojects delivers strong financial performance in Q1FY20

Capacit'e Infraprojects Limited (“Company”), a EPC company focused on High Rises & Super High Rises and providing end to end services for residential, commercial and Institutional building with presence in Mumbai Metropolitan Region (MMR), Pune, Chennai, National Capital Region (NCR), Kochi, Hyderabad, and Bengaluru today announced its Unaudited Financial Results for the quarter ended June 30, 2019.

Standalone Performance highlights for Q1 FY20:

Total Income for Q1 FY20 grew by 2.6% to ?418.0 Crores as compared to ?407.3 Crores in Q1 FY19.

EBITDA for Q1 FY20 was ?76.5 Crores as compared to ?64.9 Crores in Q1 FY19, depicting a growth of 17.8% YoY. EBITDA Margin was 18.3% in Q1 FY20 vis-à-vis 15.9% in Q1 FY19.

Depreciation and amortisation expense for Q1 FY20 stood at ?24.8 Crores as compared to ?18.5 Crores in Q1 FY19. The capex spends towards Core Assets in Q1 FY20 stood at ?20.5 Crores.

PAT for Q1 FY20 was ? 23.8 Crores as compared to ? 22.7 Crores in Q1 FY19, growing by 4.8%. PAT Margin is 5.7% in Q1 FY20 whereas it was 5.6% in Q1 FY19.

Cash PAT for Q1 FY20 stands at ?50.2 Crores, whereas it was ?44.3 Crores during Q1 FY19, showing a growth of 13.5% YoY with Cash PAT Margin at 12.0% in Q1 FY20 vis-à-vis 10.9% in Q1 FY19.

Total collections during Q1 FY20 is ~?415 Crores.

The Net Working Capital Days is 67 days in Q1 FY20 vis-a-vis 68 days in Q4 FY19.

Total Orderbook (Private + Public) excluding MHADA as on June 30, 2019 stood at ? 7,018 Crores. Residential segment contributes ~68% of the orderbook and Commercial & Institutional segment contributes ~32%.  Large part of our orderbook is contributed by High Rise and Super High-Rise Buildings at ~42% followed by Gated Community at ~33%.

Orderbook from the Public sector (included in above) as at the end of June 30, 2019 stood at ? 905 Crores.

Order wins in Q1 FY20:

• Receipt of 2 orders worth ~ ?325 Crores from Private sector clients for construction of commercial & residential buildings at Mumbai
• Maiden order from Raymond Limited (Realty Division) worth ~ ?229 Crores for a construction of Residential project at Mumbai
• Maiden order from Alyssum Developers Pvt. Ltd. (Part of Market City Resources) worth ~ ?170 Crores for construction of Mall at Pune

On the performance Rohit Katyal, Executive Director & CFO commented, “As the real estate sector is moving towards a major consolidation phase following regulatory changes and demonetisation three years ago, new launches by non-branded developers have declined sharply, while those of branded developers have increased proportionately, making it evident that the branded players are clear beneficiaries of such ongoing consolidation, a fact which is reflective in the order book of Capacit'e. The consolidation in the private sector, coupled with the housing for all initiative of the Central Government (PMAY) in partnership with various State Governments, upsurge in public sector spend for education and healthcare, places Capacit'e in sweet spot, to further capitalize on the opportunities. Capacit'e derives its strength from established and growing marquee client base, its focus on customer relationship management and its lean management, which has the ability to adapt to changing market conditions. Further, we have consciously increased our commercial & institutional order book which now stands at 32% as on 30th June as compared to 2% in FY17. The commercial & institutional segment is witnessing huge traction with investments by various global private equity players in recent times. With a lean balance sheet, strong and well diversified order book from a very strong clientele and our proven execution capabilities, we remain confident of continuing our good performance in the future.”