Financial Performance (Standalone)

Q2 FY27 Highlights:

  • Revenue from Operations: ₹300 crore, up 63% YoY (Q2 FY26: ₹184 crore)
  • EBITDA: ₹35 crore, up 59% YoY (Q2 FY26: ₹22 crore)
  • EBITDA Margin: 12% (consistent with Q2 FY26)
  • Profit After Tax (PAT): ₹18 crore, up 64% YoY (Q2 FY26: ₹11 crore)
  • PAT Margin: 6% (consistent with Q2 FY26)
  • Diluted EPS: ₹2.23, up 46.7% YoY (Q2 FY26: ₹1.52)

H1 FY27 Highlights:

  • Revenue from Operations: ₹519 crore, up 97% YoY (H1 FY26: ₹264 crore)
  • EBITDA: ₹60 crore, up 94% YoY (H1 FY26: ₹31 crore)
  • EBITDA Margin: 11% (H1 FY26: 12%)
  • Profit After Tax (PAT): ₹30 crore, up 86% YoY (H1 FY26: ₹16 crore)
  • PAT Margin: 6% (consistent with H1 FY26)
  • Diluted EPS: ₹3.86, up 76.3% YoY (H1 FY26: ₹2.19)

Operational Highlights

  • H1 FY27 Order Intake: ₹10,334 crore
  • Order Book as of September 30, 2026: ₹19,094 crore
  • Book-to-Bill (TTM): 29X
  • Credit Rating: ACUITE A (Stable) for Long Term, ACUITE A1

Key Developments

Leadership Appointment:

  • Mr. Salim Yahoo appointed as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective October 22, 2026. He brings over 30 years of experience in financial management, fundraising, and investor relations.

Global Expansion:

  • Wholly owned US subsidiary, GHV Infra Inc., approved for incorporation in Ohio and incorporated by early May.
  • LOI secured for a Cameroon tyres-factory EPC order, described as the largest order to date and a major international win.

Order Wins (H1 FY27):

  • Secured orders worth ₹10,334 crore
  • Key wins include:
  • Two Maharashtra Road projects worth ₹1,250 crore and ₹815 crore
  • ₹840 crore DUCTOR RNG and Fertilizer Project in the US
  • Railway infrastructure orders worth ₹429 crore

Execution and Revenue Outlook

  • Rainfall affected EPC execution during H1FY27, particularly in Q2.
  • With improved execution conditions expected in Q3 and Q4, the Company anticipates booking a substantial share of revenue in the second half.
  • The majority of the strong order book is expected to convert into revenue over the next couple of years.

Strategic Outlook for FY 2026–27

  • Focus on capitalizing on India's infrastructure growth across roads, railways, urban infrastructure, energy, water, and industrial development.
  • Diversified capabilities across roads, buildings, rail and metro, energy, water, coastal works, and industrial projects.
  • Building GHV Infra's independent track record to secure more orders directly (orders are currently often secured through GHV India Private Limited and transferred to GHV Infra for execution).
  • International projects (approximately ₹10,485 crore) account for around 55% of the order book and are at an early stage of execution. These are expected to drive significant topline growth.
  • Expectation of overall Operating margins improving towards 14–15% subject to project execution and ramp-up.
  • Continued evaluation of new opportunities aligned with execution capabilities and risk framework.

Management Commentary

Jahid Vijapura, Promoter, stated: "GHV Infra is entering an important phase of its growth journey... Our priority is to grow with discipline while strengthening the organisation behind the projects. We remain focused on execution quality, prudent project selection and building the capabilities required to take on larger and more complex opportunities."

Disclaimer

The press release contains forward-looking statements subject to risks and uncertainties. The company undertakes no obligation to update these statements. Financial figures have been rounded off to the nearest digit.