Capacit'e Infraprojects Q3 profit rises 40% to Rs 23 crore

Construction firm Capacit'e Infraprojects reported a 40 per cent increase in net profit at Rs 22.68 crore for the quarter ended December 2017. The Mumbai-based company had posted a net profit of Rs 16.16 crore in the same period last fiscal, it said in a regulatory filing. Total sales during the reporting quarter stood at Rs 374.51 crore, compared to Rs 320.08 crore in the corresponding quarter last fiscal. However, the profit after tax (PAT) for the April-December period of the current fiscal grew by 33 per cent to Rs 56 crore, against Rs 42 crore in the same year-ago period, the company said in a release. Total income in the nine-month period ended December grew by 16.4 per cent to Rs 970 crore, against Rs 833 crore in the corresponding period last fiscal, it said. "We are witnessing a healthy flow of orders and are confident to grow our orderbook and revenues. Our focus on technology led construction is helping us open new segments of business such as the government works, institutional buildings where the opportunity is large," Rohit Katyal, executive director and chief financial officer of Capacit'e Infraprojects was quoted as saying in the release. The Mumbai Metropolitan Region (MMR) continues to be the biggest market for the company, and there are clear signs of stability, Katyal said, adding, "We have potential to increase our orderbook by 30-35 per cent merely on new phases of work orders that our existing clients will release for projects we are already executing." During the October-December quarter of the current fiscal, the company bagged construction contract worth Rs 825 crore from Arihant Abode, a subsidiary of Arihant Superstructure Limited, it said. "With this the company has added orders worth Rs 1,900 crore in 9M FY18," it said. Capacit'e Infraprojects provides end-to-end services for residential, commercial and institutional building, and has presence in MMR, Pune, Chennai, the National Capital Region, Kochi, Hyderabad and Bengaluru.