CAPACITE INFRAPROJECT LTD

Builds civil structures for high-rise and super high-rise buildings in India, including basements, podiums, clubhouses, service floors, upper floors, penthouses and terraces, with work spanning structural construction through finishes. The order book stood at INR 13,498 crore at end-FY26, split between public sector undertakings and private developers, with 92% concentrated in the top 10 projects. FY26 revenue of INR 2,623 crore grew 12% year on year, while order inflow of INR 4,446 crore exceeded guidance of INR 3,500 crore; recent wins include a INR 482 crore order from Twenty-Five Downtown Realty for Tower T5 at Mahalaxmi, Mumbai, and a INR 589 crore letter of intent from Ten X Realty East, a Raymond Realty subsidiary. The company runs around 30 project sites and uses aluminium formwork and jump-form systems, with INR 165 crore of capex planned for FY27 largely for these systems. The largest cost line is materials at 31.4% of revenue, primarily steel, aluminium and electrical items which rose about 18% between February and April 2026, followed by other operating expenses at 43.2% of revenue. Net debt is below INR 170 crore, working capital days have been cut by 43, and bank credit rating was upgraded to BBB+.