CONSTRUCTION firm D.M. Consunji Inc., a unit of publicly-listed DMCI Holdings Inc., said on Wednesday that it has signed some P3.5 billion worth of energy, buildings and utilities and plants projects during the third quarter of the year.
The company said this brings its total construction-order book to P28.6 billion for January to September.
The newly signed projects in the third quarter that have already started include a 32-story condominium building of Grand Pine Inc., Maven at Capitol Commons of Ortigas and Co., a petrochemical plant of JG Summit Petrochemical Corp. and the rehabilitation of La Mesa Water Treatment Plant 2 of Maynilad.
Meanwhile, some of the major ongoing projects include sections 1 and 2 of the Metro Manila Skyway Stage 3 project of Citra Central Expressway Corp., the Laguna portion of Cavite-Laguna Expressway project of MPCala Holdings, the Bued Viaduct and Roadway of Private Infra Development Corp., Six Senses Resort of Federal Land, Anchor Grandsuites of Anchor Land Holdings and NCCC Mall of LTS Malls Inc.
From January to September this year, DMCI was able to sign over P14-billion worth of new contracts, an 88-percent improvement from P7.9 billion last year.
On a stand-alone basis, DMCI’s net income during the same period increased 35 percent, from P670 million 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,” DMCI President and CEO Jorge A. Consunji said.