Ahluwalia Contracts (India) Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 17 Jul 2026 | Market Cap: ₹5.6K Cr
For FY '26, Ahluwalia Contracts expects sales growth of around 10% to 15%, impacted by NGT-related delays in the Delhi NCR region. For FY '26, the company targets a top-line growth of 10% to 15% due to disruptions from the NGT and project closures in Delhi.
From Ahluwalia Contracts (India) Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹696
Market Cap
₹5.6K Cr
P/E Ratio
21.1
Ahluwalia Contracts (India) Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.1K Cr, net profit ₹54 Cr.
Full financials →📊 Revenue & Sales Performance
- →For FY '26, Ahluwalia Contracts expects sales growth of around 10% to 15%, impacted by NGT-related delays in the Delhi NCR region.
- →For FY '27, management is optimistic about achieving 15% to 20% top-line growth, considering a strong order book and improved execution capabilities.
- →There is hope to recoup the shortfall experienced in FY '26 during FY '27.
- →Growth could potentially be higher than stated projections, but the company remains conservative in guidance.
- →The Central Vista fast-moving project and ongoing government-funded projects are expected to significantly contribute to growth next year.
- →Order inflows remain robust with a net order book of ~INR18,680 crores, ensuring steady execution over 2.5 to 3 years.
- →Overall, the company anticipates resuming higher growth momentum from FY '27 onwards.
📈 Profitability & Margins
- →For FY '26, the company targets a top-line growth of 10% to 15% due to disruptions from the NGT and project closures in Delhi.
- →For FY '27, management is optimistic about achieving 15% to 20% sales (top-line) growth, considering a healthy and growing order book.
- →Operating margins are expected to reach double digits starting FY '26 itself.
- →PAT margin for the 9 months FY '26 was 5.6%, improving from 4.05% in the same period last year.
- →EPS for 9 months FY '26 is INR 27.49 compared to INR 17.67 last year, reflecting strong earnings growth.
- →The conservative growth outlook is supported by an order inflow of INR 9,562 crores year-to-date, above the projected INR 8,000 crores.
- →Management remains focused on improving efficiency and profitability going forward.
🏗️ Capital Expenditure Plans
- →Capex incurred in 9 months FY26: INR193 crores.
- →Additional capex in Q4 FY26: INR55 crores.
- →Total capex for full year FY26 expected around INR300 crores.
- →Capex guidance for FY27 is similar, approximately INR300 crores.
- →Capex for FY27 may be slightly lower as most required for projects ordered by March would be met.
- →Capex mainly tied to execution of current order book and projects.
- →No mention of new strategic investments; focus is on increasing efficiency and margins on existing projects and leveraging land owned by subsidiaries via mergers with the parent company.
💰 Fundraising & Capital Structure
- →There is no explicit mention of any current or future new fundraising through debt or equity in the provided transcript.
- →Gross borrowings stand at INR 22 crores as of the discussion, indicating a low debt level.
- →Cash and bank balances are substantial (INR 253 crores cash and INR 587 crores bank balance), suggesting no immediate need for raising funds.
- →Capex guidance is around INR 300 crores for the full year and similar or lesser for next year, likely funded through existing resources.
- →Management indicates a conservative growth estimate with no indication of external fundraising plans.
- →No mention of equity issuance or significant new debt planned during the conference discussion.
📋 Order Book & Pipeline
- →Net order book as of December 31, 2025: INR 18,679.50 crores, to be executed over the next 2.5 to 3 years.
- →Total order inflow in FY '26 (year-to-date): INR 9,562 crores, including GST.
- →Bid pipeline currently: Approximately INR 7,000 crores.
- →L1 orders (likely awards) amount to INR 2,485 crores, included in the inflow guidance.
- →Order composition: Around 40% from NCR region; efforts ongoing to balance private and government orders towards a roughly 50:50 mix.
- →Key pending projects include Central Vista (INR ~2,600 crores, 24 months timeline) and Gem & Jewellery Park (work begins Q1 FY '27, targeting 20%-25% revenue recognition in FY '27).
Key Metrics
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What Ahluwalia Contracts (India) Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Ahluwalia Contracts (India) Ltd Q3 FY26 results?
For FY '26, Ahluwalia Contracts expects sales growth of around 10% to 15%, impacted by NGT-related delays in the Delhi NCR region. For FY '26, the company targets a top-line growth of 10% to 15% due to disruptions from the NGT and project closures in Delhi.
What is Ahluwalia Contracts (India) Ltd share price analysis?
Ahluwalia Contracts (India) Ltd currently shows a neutral. The stock trades at a P/E of 21.1 with a market cap of ₹5,597 Cr. Investors should review the full earnings analysis for detailed insights.
Is Ahluwalia Contracts (India) Ltd planning capital expenditure?
Capex incurred in 9 months FY26: INR193 crores.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.