Getting Lego as a kid is a lesson in both work and play. For play, you get to practise your creativity and understand how much pain you can cause by strategically placing legos around adults (among other things, of course).

In terms of work, more importantly, you understand that there are numerous (and more effective) ways to build something—a concept adapted across fields and one that seems to be working in the favour of Aussie construction tech company PARKD (ASX: PKD).

Specialising in producing modular car parks that are lightweight, quick-to-build and relocatable, the Company has created attractive tech and is shoring up decent support. PARKD has won a $4.46 million Design and Construction contract with one of Perth’s largest private automotive retail companies John Hughes Group. For a company with a market cap just shy of $2 million, this is a big deal.

PARKD Managing Director, Peter McUtchen, said, “The award of this project, following the success of the Rushton St project, is a testament to our team and the benefits of our IP and system of construction.”

PARKD’s project award comes on the heels of its previous accomplishment in 2022, when it successfully completed a project for John Hughes. During that project, PARKD built a flexible and high-performing vehicle storage facility.

As per the agreement, the Company has been tasked with designing and constructing a three-level car park and storage facility in Perth for one of its service operations. The primary objective of the project is to minimise disruption and construction time. PARKD was selected for this assignment due to its ability to deliver project outcomes that surpass traditional construction methods. By utilising its prefabricated construction solution, PARKD significantly reduced both the time and cost associated with project delivery.

This project also offers an exciting opportunity for the Company to utilise its patent-pending Metal Deck Support Bracket (MDSB), which has been developed in collaboration with Bluescope/Fielders. This innovative technology streamlines construction activities, providing additional time and cost benefits to PARKD Systems, thereby further enhancing the potential for reducing project duration and expenses.

The John Hughes project is to be delivered in two stages. The first stage involves the delivery of construction documentation valued at $280k and the second entails the construction of the project valued at $4.18M. Stage 2 will commence following the completion of stage 1 works and instruction to proceed from John Hughes under conditions that are industry standard for a contract of this nature.

Peter added, “We are delighted to see John Hughes Group benefit from the PARKD technical and construction solutions and to see the strengthening interest from the Automotive Retail Sector in which we see tremendous opportunity for the Company to grow.”

John Hughes has been a loyal client of PARKD, which was founded in 2016. In fact, in H1 FY23, John Hughes Group’s support helped the Company boost its revenue by 28% to nearly $600k and helped it alleviate losses. With this new award, PARKD gets to cushion its financials further, right in time for the end of FY23.