Ahluwalia Contracts (India) Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q3 FY26 earnings call analysis: revenue, margin, capex, fundraise and order book outlook from management commentary.

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

Revenue Net Profit

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

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.

See what Ahluwalia Contracts (India) Ltd said on profitability & margins — free account, 30 seconds.

🏗️ 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.

See what Ahluwalia Contracts (India) Ltd said on fundraising & capital structure — free account, 30 seconds.

📋 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

What AHLUCONT's management said in earlier quarters

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Frequently Asked Questions

What were Ahluwalia Contracts (India) Ltd Q3 FY26 results?

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.