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Friday, March 1, 2024

DMCI bagged P16.1-b worth of new construction projects in nine months

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Construction company D.M. Consunji Inc. said Monday it bagged P16.1-billion worth of projects in the first nine months, boosting its total order book to P51.7 billion.

DMCI said in a disclosure to the stock exchange it won P4.5-billion worth of construction projects and obtained P2.6 billion in additional work from ongoing projects.

The new contracts include a mall, medical building, power plants, and train depot.

“Private construction remains sluggish because of weak economic conditions. Bidding for big-ticket infrastructure projects is starting to pick up, and we hope to benefit from this soon,” said DMCI president and chief executive Jorge Consunji.

The company said it has 16 ongoing and prospect bids with a total project cost of P91.17 billion. Most of these projects involve construction of railway, bridges, buildings, power plants, water treatment, and reclamation facilities.

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DMCI’s ongoing projects include the North South Commuter Railway (viaduct and depot), NLEX-SLEX Connector Road (section 1), Skyway Stage 3 Quirino Ramp, Poblacion Water Treatment Plant, CAMANA Water Reclamation Facility, The Estate Makati, Empress and Maven at Capitol Commons and others.

It said among the recently completed major contracts were the Anchor Piers for Cebu Cordova Link Expressway together with Acciona of Spain, Ikea Pasay City together with SM Prime, Cavite-Laguna Expressway (Mamplasan to Silang East), Bued Viaduct and Roadway, The Viridian in Greenhills and The Royalton at Capitol Commons.

DMCI said that on a stand-alone basis, it recorded a net income of P143 million in the third quarter, a reversal of the P155-million net loss in the same period last year.

The construction firm said net income grew 937 percent in the first nine months to P785 million from P76 million recorded a year ago.

The dramatic rebound was attributed to higher construction accomplishments owing to easing quarantine restrictions and lower extraordinary costs. 

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