Board Meeting Details
The Board of Directors meeting was held on November 06, 2026, commencing at 4:00 PM and concluding at 4:15 PM.
Key Approvals
1. Unaudited Financial Results (Standalone & Consolidated) for the quarter and half year ended September 30, 2026
2. Incorporation of a Wholly Owned Subsidiary in Dubai, United Arab Emirates (U.A.E)
Financial Results - Consolidated (₹ in Million)
Quarterly Performance (Q2 FY2027)
- Revenue from operations: ₹6,045.38
- Other income: ₹71.34
- Total income: ₹6,756.72
- Total expenses: ₹5,522.95
- Profit before tax: ₹1,240.23
- Tax expense: ₹212.13
- Net profit after tax: ₹1,028.09
- Earnings per share (Basic & Diluted): ₹14.86
Half-Year Performance (H1 FY2027)
- Revenue from operations: ₹10,757.66
- Other income: ₹143.27
- Total income: ₹12,189.93
- Total expenses: ₹10,406.88
- Profit before tax: ₹1,792.03
- Tax expense: ₹375.97
- Net profit after tax: ₹1,416.05
- Earnings per share (Basic & Diluted): ₹20.46
Segment Reporting - Consolidated
Construction Business
- Q2 Revenue: ₹5,389.38
- H1 Revenue: ₹9,904.33
- Q2 Profit before tax: ₹563.23
- H1 Profit before tax: ₹788.54
Developer Business
- Q2 Revenue: ₹1,659.77
- H1 Revenue: ₹2,790.15
- Q2 Profit before tax: ₹409.13
- H1 Profit before tax: ₹380.53
Financial Results - Standalone (₹ in Million)
Quarterly Performance (Q2 FY2027)
- Revenue from operations: ₹5,380.36
- Other income: ₹56.87
- Total income: ₹5,437.23
- Total expenses: ₹4,441.42
- Profit before tax: ₹995.81
- Tax expense: ₹235.97
- Net profit after tax: ₹759.83
- Earnings per share (Basic & Diluted): ₹10.98
Half-Year Performance (H1 FY2027)
- Revenue from operations: ₹9,904.33
- Other income: ₹137.12
- Total income: ₹10,041.45
- Total expenses: ₹8,141.87
- Profit before tax: ₹1,899.58
- Tax expense: ₹425.19
- Net profit after tax: ₹1,474.39
- Earnings per share (Basic & Diluted): ₹21.31
Dubai Subsidiary Details
- Entity: Wholly Owned Subsidiary in Dubai, U.A.E (name to be approved by regulators)
- Industry: Infrastructure
- Investment: Initial investment up to AED 1,00,000 (approximately ₹2.24 million)
- Shareholding: 100% ownership
- Consideration: Cash subscription of shares
- Purpose: Expanding Company's existing business operations into Dubai
- Regulatory approvals required from authorities in Dubai, U.A.E and India
- This will be a related party transaction post-incorporation
Audit Qualifications and Emphasis of Matter
Srinagar Banihal Expressway Limited (Subsidiary)
- NHAI made deductions of ₹2,509.46 million from annuities towards substandard steel, deviation of embankment and other deductions
- Independent engineer recommended release of ₹1,872.75 million of this amount in FY2023-24
- Subsidiary has initiated arbitration proceedings against NHAI
- Company confident of full recovery, no adjustments made in financial results
Hospet Chitradurga Tollways Limited (Subsidiary)
- Project terminated by mutual consent with NHAI in FY2014-15
- Affects going concern nature of the subsidiary
- Consequential financial impact provided in earlier financial statements
Other Audit Matters
- Limited review covered 14 subsidiaries representing total assets of ₹24,329.10 million
- Applications filed for striking off two subsidiaries (Eco Carbon Engineering Solutions Limited and Ever Blooming Eco Solutions Limited)
- Company recognized provision of ₹1.50 million against investments in these subsidiaries
Capital Structure and Dividend
- Paid-up equity share capital: ₹691.98 million (face value ₹10 each)
- Final dividend paid: ₹1 per equity share (10% of face value) aggregating ₹69.20 million for FY2025-26
Significant Transactions
- During Q2 FY2027, the group wrote back certain liabilities and provisions amounting to ₹70.00 million (consolidated) and ₹71.09 million (standalone) which are no longer considered payable
- During the quarter, the company sold investments worth ₹1,910.00 million