Capacit'e wins Rs 306 crore Puravankara construction award
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On the reaction day the stock moved 9.7 pts more than Nifty Microcap 250 and 10.3 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Capacit'e Infraprojects received a Letter of Award worth Rs 306 crore, excluding GST, from Puravankara to construct the Estrella residential project in Andheri West, Mumbai. The work covers three basements, ground and podium levels, 25 residential floors, terraces, retail space and a clubhouse. The award is from an unrelated party and is part of normal business.
The Rs 306 crore award may support future revenue and improve the order book, but earnings depend on costs, execution and payment timing.