Capacite Infraprojects Secures ₹537 Crore LOI From TenX Realty For Thane Projects

Capacite Infraprojects Limited received a Letter of Intent on February 26, 2026, for a contract valued at approximately ₹537 crore excluding GST. The award, issued by TenX Realty Limited on behalf of Raymond Limited, relates to construction works in Thane (West), according to an exchange filing dated February 26, 2026.

Letter Of Intent For Towers and Retail Building At Thane

In its regulatory communication to BSE Limited and the National Stock Exchange of India Limited, the company said the LOI covers construction of ‘Towers F, G, NTA’ and a ‘Retail Building’ forming part of the Address by GS-3 Project and Invictus-2 Project at Thane (West).

The total contract value stands at approximately ₹537 crore, exclusive of Goods and Services Tax. The awarding entity is TenX Realty Limited, acting on behalf of Raymond Limited’s realty division. The company clarified that the order has been received in the normal course of business and falls within its ordinary civil contracting operations.

Capacite further confirmed that neither its promoters nor promoter group entities hold any interest in the awarding entity. Accordingly, the transaction does not qualify as a related party transaction under applicable regulations.

Commenting in the accompanying press release, Rahul Katyal, Managing Director, said the repeat mandate reflects the group’s ongoing association with Raymond Limited’s real estate arm and cited the company’s execution capabilities across high-rise developments.

Share Price Reaction on February 26

Shares of Capacite Infraprojects were trading at ₹253.50 on the NSE, up ₹1.00 or 0.40% for the day, as of 10:41 am IST on February 26, 2026, according to exchange data.

The stock opened at ₹249.95 and touched a high of ₹258.00 and a low of ₹248.15 so far in the session. The previous close stood at ₹252.50.

The company’s market capitalisation was reported at approximately ₹2,160 crore. Its price-to-earnings ratio stood at 10.70, while the 52-week high and low were ₹396.45 and ₹207.01, respectively.

Capacite Infraprojects Stock Market Snapshot

The broader market indices were trading in positive territory in morning deals, with benchmark gauges holding modest gains amid stock-specific activity in the construction and real estate segment.

Sectoral sentiment remained selective, with order inflow announcements and project updates driving individual counters. Construction-linked names saw intermittent buying interest following recent award disclosures across the urban development pipeline.

Market breadth was mixed at mid-morning, reflecting rotational flows rather than broad-based momentum, as investors monitored domestic cues and ongoing corporate announcements.

Company Background

Capacite Infraprojects Limited operates as a building construction contractor with a focus on high-rise and super high-rise residential and commercial developments. Its portfolio spans townships, mass housing projects, office complexes and institutional buildings.

The company provides end-to-end construction services and has worked with established real estate developers across metropolitan regions. Over the years, it has concentrated on the buildings segment, leveraging execution scale and technology-led processes in the engineering, procurement and construction space.

With the latest LOI, the order book is expected to see incremental addition, subject to formal contract execution and customary terms outlined in the final agreement.

Conclusion

The ₹537 crore LOI from TenX Realty, acting on behalf of Raymond Limited, adds to Capacite Infraprojects’ pipeline in the Mumbai Metropolitan Region. While the contract is subject to detailed agreement, the award underscores continued traction in the high-rise residential and mixed-use segment in Thane.

Source: https://nsearchives.nseindia.com/corporate/CAPACITE_26022026102518_RaymondWorkorder.pdf