DMCI Benefits from Government’s ‘Build, Build, Build’ Policy; Revenues up 75%
Real estate developer and construction company D.M. Consunji, Inc. (DMCI) saw its revenues jump from P883 million to P1.5 billion in the first quarter of 2019.
According to a company press release published on Monday, May 20, DMCI attributed its revenue boost to landing several key government projects including the Metro Manila Skyway Stage 3 (SS3), the SS3 Nagtahan Ramp, LRT Line 2 East Extension Project (Viaduct and Stations), TPLEX Bued viaduct and the Cavite-Laguna Expressway (CALAEx).
The Skyway Stage 3 is nearing completion and is scheduled to open by 2020. Once opened, the skyway will cut travel time from northern and southern Metro Manila by connecting the South Luzon Expressway (SLEX) to the North Luzon Expressway (NLEX) from Buendia in Makati to Caloocan.
The Consunji-led company also nabbed a P3.2-billion contract in February to install the trackworks and electromechanical system of the LRT-2 east extension.
“Hopefully, the LRT2 EMS contract is just the start of more infrastructure projects for DMCI. We want to focus on helping the government implement its Build, Build, Build program,” said DMCI Chief Executive Officer Jorge A. Consunji.
The “Build, Build Build” program is the ambitious cornerstone infrastructure program of the administration of President Rodrigo Duterte, who aims to build at least P9-trillion worth of infrastructure during his term.
According to DMCI’s press release, energy, plant and utilities projects also contributed a P1-billion boost in revenues.
DMCI is a publicly listed company (PSE: DMC) with interests in construction, energy, mining and water, among others.