Key Quantitative Figures - Q1FY27 Financial Performance

Consolidated Performance:

  • Revenue: ₹151.96 Crore (Q1FY26: ₹220.91 Crore; FY26: ₹948.53 Crore)
  • Other Income: ₹4.86 Crore (Q1FY26: ₹20.78 Crore; FY26: ₹35.19 Crore)
  • Total Income: ₹156.82 Crore (Q1FY26: ₹241.69 Crore; FY26: ₹983.72 Crore)
  • EBITDA: ₹9.81 Crore (Q1FY26: ₹33.54 Crore; FY26: ₹87.13 Crore)
  • EBITDA Margin: 6% (Q1FY26: 14%; FY26: 9%)
  • Profit Before Tax (PBT): ₹2.46 Crore (Q1FY26: ₹27.05 Crore; FY26: ₹65.08 Crore)
  • Profit After Tax (PAT): ₹2.00 Crore (Q1FY26: ₹22.47 Crore; FY26: ₹48.90 Crore)

Standalone Performance:

  • Revenue: ₹151.88 Crore
  • PAT: ₹1.93 Crore

Segment-wise Revenue (Q1FY27):

  • EPC Segment: ₹148 Crore
  • Real Estate (RE) Segment: ₹4 Crore

Segment-wise EBITDA (Q1FY27):

  • EPC Segment: ₹13 Crore (9% Margin)
  • Real Estate (RE) Segment: -₹4 Crore (-80% Margin)

Debt and Liquidity Position as of June 30, 2026

Total Debt: ₹338.76 Crore (Mar-26: ₹298.60 Cr; Dec-25: ₹285.69 Cr; Sep-25: ₹274.31 Cr; Jun-25: ₹250.75 Cr; Mar-25: ₹201.90 Cr)

Breakdown of Lenders (Jun-26):

  • SBI / UBI / BOM/ Indus Ind/FDRL/KBL: ₹98.43 Cr
  • Aditya Birla Capital: ₹82.48 Cr
  • ICICI: ₹13.01 Cr
  • Tata Capital: ₹21.01 Cr
  • Vivriti Capital: ₹39.87 Cr
  • Arka Fincap Limited: ₹40.08 Cr
  • SBM Bank: ₹24.00 Cr
  • Others: ₹19.88 Cr

Liquidity Position:

  • Cash & Bank Balance: ₹31.86 Cr
  • Fixed Deposits: ₹155.16 Cr (of which ₹149.76 Cr is under lien)
  • Total Cash & Bank Balance: ₹187.02 Cr
  • Net Debt: ₹151.74 Cr

Working Capital Facilities:

  • Sanctioned Limit: ₹760 Cr (Fund Based: ₹112 Cr; Non-Fund Based: ₹648 Cr)
  • Utilised Limit: ₹405 Cr (Fund Based: ₹76 Cr; Non-Fund Based: ₹329 Cr)
  • Un-utilised Limit: ₹355 Cr (Fund Based: ₹36 Cr; Non-Fund Based: ₹319 Cr)

The un-utilised limit is stated to support the execution of an additional ₹3,000 Cr worth of orders.

Order Book and Business Overview

Total EPC Order Book: ₹2,850 Crore

  • External Order Book: ₹2,531 Crore
  • Internal Order Book: ₹319 Crore

Key Projects in External Order Book (Value > ₹100 Cr):

  • RBI Quarters, Guwahati, Assam: ₹293 Cr
  • Government Medical College, Sindhudurg, Maharashtra: ₹276 Cr
  • Medical Colleges at Suphal, Bihar: ₹248 Cr
  • Navi Mumbai Hospital (NMMC), Maharashtra: ₹218 Cr
  • Royal Rides Pvt Ltd, Goa: ₹213 Cr
  • Hospital Building at Moshi, Pimpri Chinchwad, Maharashtra: ₹206 Cr
  • Pune Police Staff Quarters, Maharashtra: ₹204 Cr
  • Capgemini IT Park, Tamil Nadu: ₹190 Cr
  • Medical College & Upgradation of District Hospital, Koderma, Jharkhand: ₹157 Cr
  • Saudamini Building MSEBHCL, Maharashtra: ₹147 Cr
  • Lotus Park, Ahmedabad, Gujarat: ₹114 Cr

Business Scale:

  • Executed over 225 projects with a construction area of over 45 million square feet.
  • Currently executing around 3.7 million square feet per annum.

Real Estate Development Projects

Projects Under Development:

1. Orchids, Santacruz (W), Mumbai: Redevelopment; GDV ₹220 Cr; 100% share; Launched Mar-2025; Bookings: ₹87 Cr; Unsold: ₹133 Cr.

2. Tranquil Heights, Powai, Mumbai: JV; GDV ₹350 Cr; 35% share; Launched Jun-2026; Bookings: ₹17 Cr.

3. Tower of Ascend, Kharadi, Pune: JDA; GDV ₹180 Cr; 58% share; Launched Jun-2023; Bookings: ₹92 Cr; Unsold: ₹88 Cr.

4. Tulip – Phase III, Coimbatore: JDA; GDV ₹200 Cr; 70% share; Launched Aug-2022; Bookings: ₹120 Cr; Unsold: ₹10 Cr.

5. GoodLife, Talegaon: Own; GDV ₹100 Cr; 100% share; Bookings: ₹80 Cr; Unsold: ₹20 Cr.

Total Real Estate Portfolio (Under Development):

  • Total Project Area: 0.96 msft
  • Area Attributable to Vascon: 0.70 msft
  • Total Booking Value: ₹396 Cr
  • Total Collections: ₹280 Cr
  • Total Revenue Recognised: ₹127 Cr
  • Balance Revenue to be Recognised: ₹258 Cr
  • Unsold Inventory: ₹228 Cr

Pipeline Projects (Near-term Launches):

1. Prakash Housing Society, Santacruz (W): Redevelopment; Residential & Retail; GDV ₹350 Cr; IOD & CC received.

2. Tower of Future, Baner-Pashan, Pune: JV; Commercial; Estimated GDV ₹425 Cr (Vascon Share); Approval in progress.

3. 4 Acre HDH-Ajanta: JV; Residential; Estimated GDV ₹225 Cr (Vascon Share); Planning Stage.

Strategic Goals and Stated Rationale

  • Order Book Strengthening: Target to secure ₹1,500–2,000 Cr of new EPC orders in FY27.
  • Real Estate Debt Optimization: Realign debt funding for the Real Estate segment in a cost-efficient manner.
  • Project Execution Acceleration: Expedite completion of ongoing real estate projects to boost revenue.

Context and Forward-Looking Statements

The presentation includes standard disclaimer statements noting that it contains forward-looking statements subject to risks and uncertainties. The Q1FY27 execution shortfall was attributed to cash flow constraints in two major Government projects, with monthly fund inflows expected from August 2026 onwards. New project orders are expected to contribute meaningfully to revenue from Q3FY27.