The order is for the construction of core and shell work for Mahindra Rainforest at Kanjurmarg and Mahindra Beacon Hill at Mahalaxmi, the company said in an exchange filing.
In an exchange filing, the company said the work order has been received in the normal course of business and forms part of its ordinary civil contracting operations. It also confirmed that its promoters, promoter group and group companies do not hold any interest in the entities awarding the contract, and therefore the order does not fall under related-party transactions.
Capacit’e Infraprojects Managing Director Rahul Katyal said the company is welcoming Mahindra Lifespace Developers as its newest client. He said the engagement validates the company’s engineering expertise, project management capabilities and track record of executing complex projects at scale.
Capacit’e Infraprojects is a building construction contractor focused on the buildings segment, with services spanning residential, commercial and institutional projects.
Shares of the company went in a jiffy following the announcement and were trading more than 1% down at ₹225.04 as of 11.44 am. The stock has fallen more than 12% so far this year and 22% over the last 12 months.
