Property

DM Consunji order book more than doubles to P65.8B in first half

The construction unit of Consunji-led DMCI Holdings Inc. saw its first semester order book surge 152% to P65.8 billion.

DM Consunji Inc.’s infrastructure projects and share in joint venture contracts accounted for the bulk of the order book at P18.3 billion and P24.9 billion, respectively.

Meanwhile, plant and utilities construction jobs reached P13.3 billion while building contracts amounted to P7.5 billion.

Energy projects contributed the remaining P1.8 billion.

As most companies put some projects on the back burner amid the pandemic, DM Consunji president and CEO Jorge A. Consunji said the firm’s strong order book would be sufficient for the next three years.

“Most companies are deferring or cancelling their projects scheduled for bidding this year because they want to preserve their cash. They are also waiting for the situation to stabilize before making any major investments,” said Consunji.

Last year, the joint venture of DMCI and Japan’s Taisei Corp. Was awarded package 1 of the North South Commuter Railway (NSCR) project by the Department of Transportation (DOTr).

At the end of June, DMCI had a balance of work of P21.3 billion from the railway contract.

Its other major infrastructure projects include the Metro Manila Skyway Stage 3, Cavite-Laguna Expressway, LRT2 East Extension and NLEX-SLEX Connector Road.

DM ConsunjI reported a net income of PP79 million in the first half, down 83 percent due to lower construction accomplishments as a result of the 76-day lockdown and higher operating costs from the implementation of COVID-19 containment measures in its job sites.

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