LEADING contractor DM Consunji, Inc. nearly doubled its newly awarded projects last year to P16 billion from the P8.2 billion worth of new contracts bagged in 2016.
With the new contracts, DM Consunji ended 2017 with an order book of P25.4 billion, higher by 26 percent than the P20 billion posted in 2016.
Among its newly signed projects are the Cavite-Laguna Expressway of MPCALA Holdings, Inc., a petrochemical plant of conglomerate JG Summit Holdings, Inc., a 62-story residential tower called Maven by Ortigas & Co., Anchor Grandsuites of Anchor Land Holdings, Inc., the Bued viaduct and roadway project of Private Infra Development Corp., and a 105-megawatt conventional power plant of Sarangani Energy Corp.
“2017 was a good year for us. We were able to keep a tight rein on our operating costs,” DM Consunji President and Chief Executive Officer Jorge Consunji said.
“The favorable settlement of pending claims and earlier than expected completion of some minor projects also contributed to our strong growth,” he added.
Some of the construction firm’s major ongoing projects are Metro Manila Skyway Stage 3 of Citra Central Expressway Corp., phase two of Six Senses Resort of Federal Land Inc., LRT-2 Masinag Station of the Transportation department, City Gate of Ayala Land, Inc., The Imperium and The Royalton of Ortigas & Co., and Radiance Manila Bay (North and South) of Robinsons Land Corp.
Meanwhile, two major infrastructure projects—namely the NAIA Expressway and the runway connecting NAIA Terminal 3 to Resorts World Manila—were completed in 2017.
On a standalone basis, DM Consunji posted net income of P1.3 billion in 2017, up 56 percent from the P824 million registered the year before.
DM Consunji is the construction unit of integrated engineering and management conglomerate DMCI Holdings, Inc. Its affiliates include DMCI Power Inc., Semirara Mining and Power Corp., DMCI Mining, DMCI Homes, DMCI Project Developers Inc., and Maynilad Water Services Inc.