Consunji construction firm bags P3.5B new contracts
D.M. Consunji, Inc. (DMCI) signed energy, buildings, and utilities and plants projects worth P3.5 billion during the third quarter, bringing its total construction order book to P28.6 billion.
Among these projects that have already started are the 32-storey condominium Grand Pine Inc., Ortigas & Co.’s Maven at Capital Commons, JG Summit’s petrochemical plant and the rehabilitation of La Mesa Water Treatment Plant 2 of Maynilad.
Meanwhile, some of DMCI’s major ongoing projects include Sections 1 and 2 of the Metro Manila Skyway Stage 3 project of Citra Central Expressway Corporation, the Cavite-Laguna Expressway project (Laguna portion) of MPCALA Holdings, the Bued Viaduct and Roadway of Private Infra Development Corporation, Six Senses Resort of Federal Land, Anchor Grandsuites of Anchor Land Holdings and NCCC Mall of LTS Malls, Inc.
For the nine months ended September, DMCI inked over P14 billion worth of new contracts, up 88 percent year on year.
DMCI booked a 35 percent jump in its nine-month profit to P904 million due to higher percentage of completion on ongoing projects and additional revenue from contract modifications.
“We expect to sustain our double-digit earnings growth for the whole year. We have a healthy order book from repeat clients and leading corporations,” said DMCI president and CEO Jorge A. Consunji.