In a significant development that reflects both operational prowess and rising investor confidence, Capacite Infraprojects, a Mukul Agrawal-backed civil construction firm, has secured two major project wins totaling INR 515 crore in a day. The company announced INR 295 crore order from Indus Co-operative Housing Society and a INR 220 crore order from TenX Realty, a step-down subsidiary of Raymond Limited.
These orders, which come amid a robust uptick in India’s urban real estate and infrastructure demand, serve as a testament to Capacite’s sharp execution capabilities, sectoral focus, and trusted client partnerships.
A Closer Look at the Twin Orders
1. INR 295 Crore Contract – Indus Co-operative Housing Society (Wadala, Mumbai)
As per the company’s filing dated 16 April 2025, Capacite Infraprojects has received a Letter of Acceptance from Indus Co-operative Housing Society for the construction of two residential and allied commercial buildings at CS No. 2/4 Saltpan Division, Shivadi-Chembur Road, Wadala, Mumbai-31. The project is worth INR 295 crore (excluding GST).
Rahul Katyal, Managing Director of Capacite, thanked Indus Co-operative Housing Society for the trust they have placed in Capacite, saying this mandate will further bolster the company’s presence in Mumbai’s premium redevelopment space. He reiterated the company’s promise of on-time delivery and quality execution, which have become the hallmark of Capacite’s reputation in urban infrastructure.
The project is part of the company’s regular civil contracting business, not a related party transaction and is a part of the normal course of business.
2. INR 220 Crore Contract – TenX Realty (Raymond Ltd Subsidiary)
Announced on 15 April 2025, Capacite received a Letter of Intent (LoI) from TenX Realty, the real estate arm of the iconic Raymond Group, for executing civil core and shell works for their premium residential project in Bandra East, Mumbai.
The project includes construction of three basements, ground plus 23 floors, and associated non-tower areas, located strategically near the Western Express Highway in Nirmal Nagar.
This order, according to the company, represents a repeat engagement from Raymond Group, highlighting the client’s continued trust in Capacite’s performance and delivery standards.
Capacite Infraprojects Post-IPO Performance & Market Response
Capacite Infra launched its IPO on 13 September 2017. The issue was a total book building issue of INR 400 crore. Capacite Infraprojects IPO got massive response from the investors that leads the subscription to 182X. The IPO listed with an impressive 37.02% return from its allotment price of INR 250 per share. Notably, the shares of Capacite Infra surges 562% in five years and made an all-time high of INR 465 per share on 18 December 2024 from its five years low of INR 70.20 per share on 3 April 2020. It is worth noting that Capacite’s stock has rallied nearly 49% in a year from its 52-week low of INR 251.30 per share, riding on strong order inflows and operational performance.
Currently, it is trading around INR 375 per share, with a correction of ~19% from its 52-week high. The announcements of latest projects win impacted the capital market positively. On 15 April shares of Capacite Infraprojects surged 3.5% intraday, driven by news of the Raymond Group order. A day later, on 16 April the stock continued its upward momentum, gaining 2.67% to reach INR 381 per share, following the Wadala project announcement.
As of Q3 FY25, the company posted a 76.2% YoY jump in consolidated net profit at INR 52.02 crore, on the back of INR 590.49 crore in net sales, up 22.8% YoY. The company’s order book now stands at an impressive INR 10,047 crore.
Adding to the bullish sentiment, the company boasts marquee investors. Notably, ace investor Mukul Agrawal holds a 6.09% stake, signaling institutional confidence in its long-term growth story.
Capacite’s Strategic Positioning in Urban Construction
Founded with a focus on building construction, Capacite has made a name for itself in high-rise and super high-rise buildings, residential townships, commercial parks and institutional projects like healthcare, hospitality and industrial infrastructure.
The back to back wins are a testament to the company’s continued dominance in Mumbai’s redevelopment and luxury housing space. These deals especially in prime locations like Bandra and Wadala are not just big in size but also strategically important in terms of brand visibility, execution complexity and urban influence.
Conclusion
From an investment perspective Capacite Infraprojects is a strong play in the mid-cap construction space, especially for investors looking to play India’s urban growth and real estate revival. Its growing order book, robust financials, high profile clients and experienced management team make it a standout in the EPC (Engineering, Procurement, Construction) space.
With a clean balance sheet, increasing public private project traction and renewed investor interest Capacite is well placed to ride the next wave of India’s urban infrastructure growth.