DM Consunji bags P3.5B worth of contracts in Q3

DM CONSUNJI, Inc. secured contracts amounting to P3.5 billion in the third quarter, mostly to develop residential condominium projects.

In a statement issued over the weekend, the construction arm of engineering conglomerate DMCI Holdings, Inc. said its total construction order book now stands at P28.6 billion.

Among DM Consunji’s new projects are the 32-storey condominium building of Grand Pine, Inc., Ortigas & Co.’s Maven, a 62-storey residential tower in Capital Commons, Pasig City, a petrochemical plant of JG Summit Petrochemical Corp., and the rehabilitation of La Mesa Water Treatment 2 of Maynilad Water Services, Inc.

With these, DM Consunji now has P14 billion worth of contracts signed in the first three quarters of 2017. This shows an 88% increase from the P7.9-billion contracts signed in the first nine months of 2016.

“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,” DM Consunji President and Chief Executive Officer Jorge A. Consunji was quoted as saying in a statement.

Among the other projects DM Consunji has also been contracted to build are Sections 1 and 2 of the Metro Manila Skyway Stage 3 project by Citra Central Expressway Corp. The company is also constructing the Laguna portion of the Cavite-Laguna Expressway project, a four-lane, 47-kilometer project of MPCALA Holdings, Inc.

DM Consunji will likewise build the Bued Viaduct and Roadway of Private Infra Development Corp., Federal Land Corp.’s Six Senses Resort in Pasay City, Anchor Grandsuites by Anchor Land Holdings, Inc. in Manila, and NCCC Mall of LTS Mall, Inc.

DM Consunji reported its net income jumped by 35% during the first nine months of 2017 to P904 million, primarily due to higher completion rates of ongoing projects, as well as increased revenue from contract modifications. —