Date: 14th August 2026

Company Overview

REPL is an integrated urban development and infrastructure consultancy established in 1992, listed on NSE in 2020. It employs 200+ sector experts and is empaneled with 25+ government agencies/PSUs. The company has executed 1500+ projects across 130+ cities in infrastructure, planning, water, and real estate domains. It is ISO 9001:2015 and ISO/IEC 27001:2013 certified, and CMMI V3.0 certified for software development.

Financial Results (Standalone & Consolidated)

Standalone (Q1 FY27, Unaudited)

  • Revenue from Operations: ₹8.44 crore
  • Other Income: ₹0.44 crore
  • Total Income: ₹8.44 crore
  • Total Expenditure: ₹6.75 crore
  • EBITDA: ₹1.70 crore (20.10% margin)
  • Profit After Tax (PAT): ₹0.77 crore (9.17% margin)
  • Total Comprehensive Income: ₹0.86 crore

Consolidated (Q1 FY27, Unaudited)

  • Revenue from Operations: ₹9.92 crore
  • Other Income: ₹0.36 crore
  • Total Income: ₹10.28 crore
  • Total Expenditure: ₹8.58 crore
  • EBITDA: ₹1.70 crore (16.5% margin)
  • Profit for the period (Net): ₹0.53 crore (5.2% margin)
  • Total Comprehensive Income: ₹0.62 crore

Comparative Performance

Management attributes the decline in revenue to a strategic decision to transition from government-led contracts to private sector and enterprise customers. This shift is aimed at improving profitability, cash flow, and reducing working capital intensity, despite short-term pressure on topline and margins.

Other Operational / Legal / Strategic Disclosures

Macro-Economic Scenario & Challenges

  • Global trade stabilization post-West Asia crisis, with petroleum prices in the upper range.
  • Volatile and subdued capital markets affecting long-term investments.
  • RBI maintaining current interest rates but monitoring inflation closely.
  • Government has put on hold fund allocation for various infrastructure projects due to internal audit issues, affecting REPL's billing schedule.
  • Gulf War has caused delays in payments for projects like JJM/PMAY/AMRUT, impacting billing cycle and fund flow.

REPL Current Strategy

  • Aligning Billing Cycle: Not raising final bills on government projects (JJM, AMRUT, etc.) at closure due to withheld central fund allocation to states, to avoid immediate tax liabilities.
  • Project Revival & Closure: Large-scale projects are reviving after client delays (SUDA UP, JBVNL Jharkhand, NCRPB Delhi), expected to fuel topline in next quarters. Expenses already incurred; revenue realization pending.
  • Focus on Private Sector Projects: To increase cash flow certainty and mitigate government payment delays. Projects from clients like BSES, TATA Group, BRS Infra are of repeat nature, creating annuity business inflow.
  • Managing Transition: Shift from public to private sector poses initial challenges but is being handled structuredly.
  • Quality Billing: Adopted a conservative billing approach aligned only with established quality projects, leading to lower short-term turnover but strengthened receivable quality. Repaid ₹7.15 crore of bank limits.

Growth Opportunities & Positioning

  • Union Budget 2026-27 increased capital expenditure to ₹12.20 lakh crore. REPL associated with flagship programs like PMAY, AMRUT, Smart City Mission, JJM, Skill India.
  • Entering new programs like Urban Challenge Fund (UCF) with ₹1 lakh crore allocation.
  • Expansion in aviation through Reconn Airways collaboration, deeper into hospitality, and increased presence in power sector.
  • Overseas BIM consultancy and scaling consultancy in distributive technology (AI/BI, GIS, BIM & ICT).
  • IT-enabled sustainability solutions through JV GEM Ecomind.
  • Diverse pan-India geographical presence with a large talent pool.

Robust Order Book – Major On-going Projects

  • BSES: Consultancy for conversion of overhead electrical network to underground utility system, Delhi.
  • Management Consultant & Solution Providers to RFSDL in Rajasthan.
  • GIS-based Asset Mapping of Electricity Network for JBVNL Jharkhand.
  • Pradhan Mantri Awas Yojana (PMAY) – SUDA, UP.
  • PMC for Solid Waste Management in 8 Cities, Jharkhand.
  • GIS Based Master Plan for 10 Towns in Tamil Nadu.
  • Preparation of Zonal Development Plan (ZDP) of Patna Metropolitan Area.
  • Real Estate: Design & PMC for jüSTa Hotels (Lonavala) & Regenta Hotel (Lucknow).
  • DDUGKY Skill development and MSME Industrial training.
  • GIS Based Master Plan for 12 Towns in Odisha.
  • Functional Plan on Education and Skill Development in NCR, NCRPB.
  • Water Supply Scheme in 48 Villages in Narnaul, Haryana.

New Project Awards

  • Transportation of Pond Ash from NTPC Site to bypass in UP (Client: BRS Infra Height Pvt. Ltd): Awarded to subsidiary RGEPL. Duration 2 months. Expect similar contracts in subsequent quarters.
  • PMC for Patient Accommodation Building of RCHRC, Ranchi (Client: Tata Cancer Care Foundation): Awarded to REPL. Duration 24 months. Scope includes project planning, supervision, quality assurance, etc.
  • PMC BIM Design Services for Civil & Mechanical Design of Waste Water Treatment Plant, Tunisia (Client: Pabsch Engineering India Private Limited): Awarded to RIPL. First international project. Duration 7 months.
  • Feasibility Study, Preparation of DPR & Supervision for Development of Paddy Procurement Centers across Odisha (Client: Odisha Bridge & Construction Corporation Limited): Awarded to REPL. Duration 24 months, covering 38 mandis.

ESG & CSR Initiatives

  • Core business philosophy committed to ESG principles, involved in national and state-level initiatives like PMAY, JJM, Skill India, Smart City Mission, Solid Waste Management, Urban Planning.
  • Contributions include: 4 lakh+ families receiving pucca houses, integrated sustainability in 70+ towns, 71,000+ HHs accessing potable water, skilling 800+ rural youth with 80%+ placement.
  • CSR initiatives through PREF (Pradeep Richa Educare Foundation) focused on empowering underprivileged youth for 15 years.

Forward Outlook & Shareholder Assurance

  • Management focused on building a financially resilient model through sustainable revenue recognition, strong collection-led growth, margin improvement, and operational efficiency.
  • Billing momentum expected to improve with stabilized customer engagements, improved collection cycles, and stronger execution visibility.
  • EBITDA margins expected to normalize gradually as operating leverage improves.
  • The strategic shift is expected to deliver higher margins, improved cash flow, lower working capital, faster collections, higher ROCE, reduced customer concentration risk, better earnings quality, and a stronger recurring revenue base.

KMP / Board / Auditor Changes

Not Specified

Dividend Declaration or Non-Declaration

Not Specified

Board Meeting Outcomes

Not Specified

Auditor’s Report

Not Specified

Disinvestment / Strategic Actions

Not Specified