Standalone Financial Results (Quarter Ended September 30, 2026)

  • Revenue from operations: ₹126.34 crore
  • Other income: ₹3.26 crore
  • Total income: ₹129.60 crore
  • Total expenses: ₹1,420.68 crore
  • Cost of materials consumed and services cost: ₹1,150.65 crore
  • Employee benefits expense: ₹155.68 crore
  • Finance cost: ₹26.74 crore
  • Depreciation and amortization: ₹8.46 crore
  • Other expenses: ₹79.16 crore
  • Loss before exceptional items: ₹124.72 crore
  • Exceptional items: ₹1.28 crore (reversal of provision for change in fair value of investments (NCD) and its disposal)
  • Loss before tax: ₹126.85 crore
  • Tax expense: Nil
  • Net loss for the quarter: ₹126.85 crore
  • Earnings per share (basic and diluted): ₹(0.28)

Standalone Financial Results (Half-Year Ended September 30, 2026)

  • Revenue from operations: ₹246.61 crore
  • Other income: ₹6.57 crore
  • Total income: ₹253.18 crore
  • Total expenses: ₹2,751.78 crore
  • Loss before exceptional items: ₹219.99 crore
  • Exceptional items: ₹26.16 crore
  • Loss before tax: ₹191.83 crore
  • Tax expense: ₹10.00 lakh (for earlier years)
  • Net loss for the period: ₹181.83 crore
  • Earnings per share (basic and diluted): ₹(0.40)

Consolidated Financial Results (Quarter Ended September 30, 2026)

  • Revenue from operations: ₹126.34 crore
  • Other income: ₹3.26 crore
  • Total income: ₹129.60 crore
  • Total expenses: ₹1,420.20 crore
  • Loss before share of profit/(loss) of associates and joint ventures: ₹124.83 crore
  • Share of profit/(loss) from joint venture: Nil
  • Loss before exceptional items and tax: ₹124.83 crore
  • Exceptional items: ₹2.13 crore
  • Loss before tax: ₹126.96 crore
  • Tax expense: Nil
  • Net loss for the quarter: ₹126.96 crore
  • Earnings per share (basic and diluted): ₹(0.28)

Consolidated Financial Results (Half-Year Ended September 30, 2026)

  • Revenue from operations: ₹245.61 crore
  • Other income: ₹6.57 crore
  • Total income: ₹252.18 crore
  • Total expenses: ₹2,751.82 crore
  • Loss before share of profit/(loss) of associates and joint ventures: ₹220.03 crore
  • Share of profit/(loss) from joint venture: Nil
  • Loss before exceptional items and tax: ₹220.03 crore
  • Exceptional items: ₹28.16 crore
  • Loss before tax: ₹191.88 crore
  • Tax expense: ₹10.00 lakh (for earlier years)
  • Net loss for the period: ₹181.88 crore
  • Earnings per share (basic and diluted): ₹(0.40)

Balance Sheet Highlights (Standalone as of September 30, 2026)

  • Total assets: ₹5,077.36 crore
  • Non-current assets: ₹1,216.90 crore
  • Property, plant and equipment: ₹732.25 crore
  • Contract assets: ₹153.47 crore
  • Non-current tax assets: ₹225.68 crore
  • Current assets: ₹3,860.45 crore
  • Inventories: ₹682.81 crore
  • Trade receivables: ₹1,306.35 crore
  • Cash and cash equivalents: ₹55.18 crore
  • Total equity: ₹2,579.51 crore
  • Equity share capital: ₹893.52 crore
  • Other equity: ₹1,685.99 crore
  • Total liabilities: ₹2,497.85 crore

Cash Flow Statement (Standalone Half-Year Ended September 30, 2026)

  • Net cash used in operating activities: ₹743.13 crore
  • Net cash from investing activities: ₹1,071.30 crore
  • Net cash from financing activities: ₹76.94 crore
  • Net increase in cash and cash equivalents: ₹405.11 crore

Key Notes and Disclosures

1. The unaudited financial results were taken on record by the Board of Directors on October 29, 2026.

2. Statutory auditors conducted a limited review and issued a modified report.

3. Financial results prepared in accordance with Indian Accounting Standards (Ind AS) and Regulation 33 of Listing Regulations.

4. Balance value of work on hand as of September 30, 2026: ₹11,740.68 crore.

5. The Company operates in only one segment: Construction and other infrastructural services.

6. Balances of trade payables (including MSME), loans and advances, and other liabilities are subject to confirmation/reconciliation.

7. Certain statutory dues (including GST/VAT/PF/TDS) could not be paid on due dates in earlier years due to cash flow issues. These were remitted in the previous year. Delayed payment charges are not ascertainable and will be accounted when demanded and paid.

8. Exceptional items represent reversal of provision for change in fair value of investments (NCD) and its disposal.

9. The Company has assessed financial impact of contract tenure prolongation and believes no additional costs beyond estimates will be incurred.

10. Previous period figures have been regrouped/reclassified where necessary.

Auditor Qualifications

The statutory auditors, ASA & Associates LLP, issued a modified review report citing:

1. Non-receipt of confirmation and consequential reconciliation of balances from loans and advances, trade payables, and other liabilities. Impact not ascertainable.

2. Insufficient evidence regarding identification of micro and small enterprises and dues thereon. Company does not provide for interest on MSME dues as required under MSMED Act, 2006.

3. Non-estimation and provision for interest and penalty on earlier years' statutory dues paid during the year. Impact not ascertainable.