Key Financial Figures

  • Q1 FY27 Total Income: ₹304.3 crores (170.6% YoY growth)
  • Q1 FY27 EBITDA: ₹4.8 crores
  • Q1 FY27 PAT: ₹1.1 crores
  • Consolidated Order Book (as of June 30, 2026): ₹778 crores
  • EPC Order Book: Approximately ₹500 crores
  • Toll Segment Order Book: Approximately ₹278 crores

Revenue Guidance

  • FY27 Targeted Turnover: ₹850 crores
  • FY28 Targeted Turnover: ₹1,200 crores
  • FY27 Toll Segment Target: ₹700 crores
  • FY27 EPC Segment Target: ₹150 crores

New Contract Wins

  • Kozhinjipatti Toll Plaza: ₹28.7 crores contract for Dindigul-Samayanallur stretch of NH-44 in Tamil Nadu
  • Krishnagiri-Thumbipadi Toll: ₹80 crores contract for toll operations at km 154.5 on NH-44
  • Total New Toll Wins: Approximately ₹108.7 crores

Operational Updates

Toll Business Performance

  • Temporary profitability impact due to geopolitical developments and global trade disruptions
  • Moti Naroli toll project experienced lower traffic volumes
  • Voluntary surrender of one toll project with unfavorable economics
  • Traffic trends showing improvement, nearing normal levels as of July 2026
  • Kaza toll project outperformed expectations

EPC Business

  • 24 projects currently under execution
  • Commenced execution of Beverly Hills project valued at approximately ₹70 crores
  • Expected execution timeline: 15-16 months
  • Expected revenue contribution: 40-45% of EPC revenue over next 15-16 months

Strategic Initiatives

  • Geographic diversification into Tamil Nadu, Andhra Pradesh, Telangana, West Bengal, and Assam
  • Focus on technology integration across business verticals
  • Bid-to-win ratio of 25-30% across both toll and EPC segments
  • Pursuing larger projects through both independent bidding and strategic JVs
  • Exploring renewable energy and EV infrastructure opportunities

Management Commentary

  • Company evolving from regional EPC contractor to multi-vertical infrastructure platform
  • Focus on execution quality and profitability over order book size
  • Eastern India identified as opportunistic market for expansion
  • Technology integration seen as key differentiator for future growth
  • Q1 profitability impact considered temporary with recovery expected

Q&A Highlights

  • Traffic recovery: Western front still below normal, other regions recovered
  • Margin recovery expected with improving traffic trends
  • Strategy includes hedging risks through geographic diversification
  • Focus on quality tenders with better margins and less competition
  • Research underway for entry into West Bengal and Assam markets