Capacite Infraprojects announced that the consortium of Capacite Infraprojects (Lead Member), Tata Projects and CITIC Construction Co, has received Letter of Acceptance from Mumbai Housing and Area Development Board (a MHADA Unit) for total contract value of Rs 117.44 billion.

The project will be executed through a Special purpose vehicle in which Capacite Infraprojects will have 37.1% share worth Rs 43.57 billion. Share of Tata Projects in the Consortium will be 36.9% and CITIC Construction Co. will have 26% share.

The project involves Technical designing (structure service + infrastructure), co-ordination and construction of rehabilitation/ sale/ commercial / amenities / any other structure along with construction of Habitable temporary transit camps, work of on-site, off-site infrastructure and landscaping & performing various co-ordination activities and obtaining all relevant permissions & approvals from all concerned authorities on lump-sum basis for Redevelopment of project of BDD Chawls on CTS No. 1539 & 1540 at Lower Parel Division at Worli, Mumbai- 400 018.

Shares of the company gained Rs 0.10, or 0.03%, to trade at Rs 288.20. The total volume of shares traded was 97,070 at the BSE (10.43 a.m., Friday).