Capacite Infraprojects Secures ₹537 Crore LOI for Thane Projects from TenX Realty
Capacite Infraprojects Limited has received a Letter of Intent (LOI) 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, pertains to construction works in Thane (West), as per an exchange filing dated February 26, 2026.
In its regulatory communication to BSE Limited and the National Stock Exchange of India Limited, Capacite Infraprojects stated that the LOI covers the 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. Capacite Infraprojects clarified that the order has been received in the normal course of business and falls within its ordinary civil contracting operations. The company further confirmed that neither its promoters nor promoter group entities hold any interest in the awarding entity. Therefore, the transaction does not qualify as a related party transaction under applicable regulations.
Rahul Katyal, Managing Director of Capacite Infraprojects, commented in the accompanying press release that the repeat mandate reflects the group’s ongoing association with Raymond Limited’s real estate arm and highlights the company’s execution capabilities across high-rise developments.
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 during 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.
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.
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.
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.
