Capacit’e Infraprojects Limited has received a letter of intent from TenX Realty Limited on behalf of Raymond Limited for a contract valued at Rs 5.37 billion (Rs 5.37 bn) for the construction of Towers F, G and NTA and a retail building in the Address by GS-Three and Invictus-Two projects in Thane West. The contract value is approximately Rs 537 crore excluding GST and covers multiple residential and retail components within the two sites. The companies said the award followed competitive processes and represented a material addition to the contractor's order book for the financial year.

The letter of intent covers construction activities for the specified towers and the retail structure and will be undertaken for the Address by GS-Three project and the Invictus-Two project in Thane West. TenX Realty Limited is a step-down subsidiary of Raymond Limited and has engaged Capacit’e for repeat orders, reflecting continuity in the commercial relationship. The firms noted that the contract value excludes goods and services tax and that project delivery will follow approved timelines and contractual milestones.

The managing director of Capacit’e Infraprojects Limited said the company welcomed the repeat orders and regarded them as validation of its project execution capabilities and client service. He expressed confidence in meeting programme schedules and in delivering quality construction outcomes that align with client expectations. The company indicated that repeat business from a major developer supports its strategy to grow the portfolio through disciplined execution.

Capacit’e will allocate resources and coordinate subcontractors to begin preconstruction activities and mobilise for on-site works once formal agreements are executed. The award is expected to contribute to revenue visibility for the coming quarters and to reinforce the contractor's presence in metropolitan residential and retail construction. The company reaffirmed its focus on safety, quality and adherence to timelines as it expands work across urban projects.