DMCi bags P4.5 B contracts, reverses losses

Premier contractor D.M. Consunji Inc. (DMCI) reported that it has bagged P4.5 billion in new contracts and P2.6 billion in additional work from ongoing projects from January to September, raising its order book to P51.7 billion.

In a disclosure to the Philippine Stock Exchange, its parent firm DMCI Holdings said the new contracts include a mall, medical building, power plants and train depot.


“Private construction remains sluggish because of weak economic conditions. Bidding for big-ticket infrastructure projects is starting to pick up, and we hope to benefit from this soon,” said DMCI President and CEO Jorge A. Consunji.

As of same period last year, DMCI had an order book of P63.4 billion, of which P958 million was a newly-awarded project and P245 million were change orders.

On a stand-alone basis, DMCI recorded a net income of P143 million in the third quarter compared to a net loss of P155 million in the same period last year.

DM Consunji Inc. President and CEO Jorge Consunji

For the nine-month period, its bottom line soared 937 percent from a net loss of P76 million to a net income of P785 million this year.

The dramatic rebound was mainly attributable to higher construction accomplishments owing to easing quarantine restrictions and lower extraordinary costs related to COVID-19 containment.

Ongoing DMCI projects include the North South Commuter Railway (viaduct and depot), NLEX-SLEX Connector Road (section 1), Skyway Stage 3 Quirino Ramp, Poblacion Water Treatment Plant, CAMANA Water Reclamation Facility, The Estate Makati, Empress and Maven at Capitol Commons, among others.

Meanwhile, some of its recently completed major contracts include the Anchor Piers for Cebu Cordova Link Expressway together with Acciona of Spain, Ikea Pasay City together with SM Prime, Cavite-Laguna Expressway (Mamplasan to Silang East), Bued Viaduct and Roadway, The Viridian in Greenhills and The Royalton at Capitol Commons.