This document is an investor presentation filed under SEBI Regulation 30, covering the unaudited financial results for Q2 FY27 (quarter ended September 30, 2026) and business updates.
Key Business Highlights Q2 FY27
- Achieved highest quarterly revenue in the last decade, marking the best-ever quarter since entering CDR in 2014.
- CDR – Settlement of Right of Recompense (ROR): SBI, as lead bank, quantified total ROR liability at ₹52.50 crore, subject to confirmation by other consortium lenders. Settlement is scheduled by March 2027. The company has recognized a provision for the entire ₹52.50 crore, including an additional provision of ₹17.50 crore during the current quarter. ₹10 crore has already been deposited as per SBI's payment schedule.
- New project orders worth ₹696 crore awarded during Q3 FY27, taking total order wins to ₹1,150 crore in FY27.
- Strong project pipeline: ₹900 crore in North and ₹1,200 crore in South in advanced negotiation stages, out of total ₹7,500 crore bidding pipeline.
- GRAP Impact: Mandatory pollution control restrictions in Delhi-NCR may temporarily disrupt construction activities during November and December 2026, impacting project execution, productivity and revenue recognition. The company is taking steps to minimize impact through resource redeployment.
Financial Performance Q2 FY27 (Consolidated)
- Revenue from Operations: ₹498.15 crore
- Cost of Material Consumed: ₹261.37 crore
- Construction Expenses: ₹159.93 crore
- Gross Margin: ₹76.85 crore (15.43%)
- Staff Cost: ₹30.77 crore
- Other Expenses: ₹5.26 crore
- EBIDTA: ₹40.83 crore (8.20%)
- Other Income: ₹23.29 crore
- Exceptional Item (Loss): ₹21.96 crore
- Finance Cost: ₹10.51 crore
- Depreciation: ₹4.27 crore
- PBT: ₹27.38 crore
- Tax: ₹7.18 crore
- PAT: ₹20.21 crore (4.06%)
Comparative Financial Performance
| Particulars | Q2 FY26-27 | Q2 FY25-26 | Q1 FY26-27 |
| Revenue (Cr) | 498.15 | 355.13 | 345.12 |
| PAT (Cr) | 20.21 | (8.62) | 10.00 |
| PAT Margin (%) | 4.06% | -2.43% | 2.90% |
Order Book and Business Metrics
- Order Book: ₹4,647 crore as on September 30, 2026
- Workforce: 1,300+ skilled professionals
- Completed Projects: 255+ across India
- Total Built-up Area: ~140 million sq ft
- Planned Capex: ₹65 crore for FY27 focused on innovation, upskilling and fixed assets
- Fund-based Debt reduced from ₹700 crore in 2014 to ₹270 crore in 2025; only cash credit facility remains
Strategic Priorities
- Monetization of non-core assets to strengthen balance sheet by FY27
- Advancing composite steel construction to reduce labor dependency
- Workforce development through internal training and BLK Wizards programme
- Targeting increased share of government projects
- Growth in commercial mixed-use developments and high-end residential projects
- Delivered 2 data centers; positioned to scale this portfolio further
Project Portfolio
Top ongoing projects include:
- Mall of India DLF Downtown Phase - 2, Gurgaon (Commercial): ₹679.80 crore
- Sattva Knowledge City, Chennai (Commercial): ₹615.69 crore
- BPTP Amstoria Verti Greens, Gurgaon (Residential): ₹578.17 crore
- CRC-The Peridona, Noida (Residential): ₹291.40 crore
- BPTP Amstoria GAIA Residences, Gurgaon (Residential): ₹283.48 crore
Government Projects Strategy
Objective to strategically increase participation in government projects and secure more opportunities during FY26-27. Aim to grow presence in railway sector by leveraging completed projects as competitive advantage.
Geographical Spread
Haryana, Karnataka and Tamil Nadu are largest contributors to order book. NCR remains critical market, Bengaluru as global IT hub, and Tamil Nadu as key growth market.
Balance Sheet Abstract (Consolidated)
| Particulars | FY26-27 Q2 | FY25-26 |
| Equity & Reserves | 557.75 | 526.76 |
| Total Borrowings & Lease Liabilities | 302.89 | 299.11 |
| Trade Payables | 290.34 | 261.24 |
| Total Equity & Liabilities | 1898.38 | 1661.64 |
| Fixed Assets/Investment Property | 240.66 | 233.52 |
| Trade Receivables | 578.92 | 502.78 |
| Cash and Bank | 92.97 | 43.39 |