Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q2 FY19
| ₹ crore | Q1 FY27 | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 | Q4 FY23 | Q3 FY23 | Q2 FY23 | Q1 FY23 | Q4 FY22 | Q3 FY22 | Q2 FY22 | Q1 FY22 | Q4 FY21 | Q3 FY21 | Q2 FY21 | Q1 FY21 | Q4 FY20 | Q3 FY20 | Q2 FY20 | Q1 FY20 | Q4 FY19 | Q3 FY19 | Q2 FY19 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 5,812 | 6,233 | 4,868 | 4,543 | 5,179 | 6,131 | 5,345 | 5,196 | 5,528 | 6,485 | 5,260 | 4,720 | 4,380 | 4,949 | 3,850 | 3,373 | 3,321 | 3,477 | 3,015 | 2,581 | 2,064 | 2,817 | 2,127 | 1,708 | 1,298 | 2,334 | 2,281 | 1,938 | 2,347 | 3,761 | 3,379 | 3,243 |
| Other income | 30.7 | 18.3 | 32.1 | 42.1 | 28.9 | 58.5 | 38.3 | 28.4 | 30.4 | 45.2 | 27.7 | 26.8 | 26.3 | 32.3 | 54.1 | 31.6 | 29.6 | 14.4 | 17.9 | 19.5 | 18.9 | 25.7 | 23.8 | 35.3 | 31.1 | 26.9 | 1.6 | 60 | 24.5 | 50.5 | 37 | 19.2 |
| Total expenses | 5,534 | 5,960 | 4,687 | 4,378 | 4,942 | 5,821 | 5,123 | 4,974 | 5,259 | 6,140 | 4,964 | 4,623 | 4,156 | 4,680 | 3,663 | 3,236 | 3,173 | 3,381 | 2,907 | 2,483 | 2,009 | 2,678 | 2,028 | 1,644 | 1,341 | 2,220 | 2,218 | 1,873 | 2,256 | 3,468 | 3,158 | 3,015 |
| EBITDA | 545 | 550 | 436 | 393 | 456 | 556 | 441 | 443 | 478 | 551 | 505 | 304 | 409 | 465 | 376 | 310 | 308 | 270 | 276 | 266 | 211 | 306 | 256 | 232 | 125 | 287 | 263 | 258 | 279 | 475 | 414 | 401 |
| EBITDA margin | 9.4% | 8.8% | 9.0% | 8.7% | 8.8% | 9.1% | 8.2% | 8.5% | 8.6% | 8.5% | 9.6% | 6.4% | 9.3% | 9.4% | 9.8% | 9.2% | 9.3% | 7.8% | 9.2% | 10.3% | 10.2% | 10.9% | 12.0% | 13.6% | 9.6% | 12.3% | 11.5% | 13.3% | 11.9% | 12.6% | 12.3% | 12.4% |
| Finance costs | 198 | 213 | 196 | 172 | 164 | 193 | 166 | 167 | 155 | 153 | 156 | 153 | 132 | 143 | 138 | 123 | 111 | 127 | 121 | 120 | 110 | 123 | 112 | 123 | 122 | 126 | 150 | 141 | 137 | 133 | 143 | 126 |
| Depreciation | 69.3 | 64.6 | 58.6 | 56.9 | 55 | 54 | 53.7 | 54.5 | 53.7 | 52.4 | 53.5 | 53.2 | 52.8 | 53.1 | 51.6 | 49.7 | 48.2 | 46.5 | 47.1 | 47.3 | 45.9 | 44.5 | 45.4 | 45.5 | 45.8 | 46.5 | 49.8 | 51.8 | 51.2 | 48.5 | 50.5 | 47.7 |
| Profit before tax | 308 | 291 | 180 | 207 | 266 | 368 | 260 | 250 | 299 | 358 | 324 | 124 | 250 | 287 | 241 | 169 | 178 | 283 | 126 | 149 | 74.5 | 151 | 122 | 99.3 | −11.9 | 105 | 65.1 | 112 | 116 | 276 | 258 | 207 |
| Tax | 82.7 | 76.8 | 46.4 | 41.3 | 63.7 | 102 | 64.2 | 75.6 | 77.2 | 119 | 94.2 | 38.8 | 68.2 | 89.7 | 73.8 | 31.7 | 43.4 | 49 | 42.1 | 28.2 | 21.4 | 33 | 45.8 | 29.6 | −29 | 38.1 | −37.7 | 31 | 41.4 | 98.9 | 88.7 | 82.5 |
| Net profit | 229 | 217 | 135 | 167 | 205 | 265 | 206 | 175 | 223 | 239 | 231 | 86.5 | 184 | 203 | 168 | 138 | 137 | 234 | 84.2 | 122 | 53.9 | 118 | 77.9 | 69.7 | 17 | 60.6 | 103 | 78.8 | 72.3 | 175 | 168 | 123 |
| Net margin | 3.9% | 3.5% | 2.8% | 3.7% | 4.0% | 4.3% | 3.9% | 3.4% | 4.0% | 3.7% | 4.4% | 1.8% | 4.2% | 4.1% | 4.4% | 4.1% | 4.1% | 6.7% | 2.8% | 4.7% | 2.6% | 4.2% | 3.7% | 4.1% | 1.3% | 2.6% | 4.5% | 4.1% | 3.1% | 4.7% | 5.0% | 3.8% |
| EPS (₹) | 3.45 | 3.28 | 1.95 | 2.46 | 3.06 | 4.04 | 3.08 | 2.60 | 3.34 | 3.81 | 3.51 | 1.23 | 2.76 | 0.00 | 2.54 | 2.08 | 2.13 | 3.97 | 1.25 | 1.87 | 0.82 | 1.92 | 1.16 | 1.06 | 0.26 | 1.25 | 1.73 | 1.37 | 1.24 | 3.12 | 2.76 | 2.04 |
| Net profit YoY | +11.9% | −18.2% | −34.3% | −4.3% | −8.0% | +11.0% | −10.9% | +102.1% | +20.8% | +17.6% | +37.2% | −37.1% | +34.1% | −13.2% | +99.9% | +12.7% | +154.8% | +97.4% | +8.1% | +75.1% | +217.0% | +95.6% | −24.0% | −11.5% | −76.5% | −65.5% | −38.8% | −35.7% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 20,823 | 22,199 | 20,845 | 15,553 | 11,138 | 7,949 | 8,901 | 12,896 |
| Other income | 121 | 156 | 126 | 148 | 70.7 | 116 | 113 | 124 |
| Total expenses | 19,967 | 21,177 | 19,883 | 14,812 | 10,779 | 7,692 | 8,567 | 12,011 |
| EBITDA | 1,836 | 1,918 | 1,769 | 1,459 | 1,024 | 919 | 1,087 | 1,599 |
| EBITDA margin | 8.8% | 8.6% | 8.5% | 9.4% | 9.2% | 11.6% | 12.2% | 12.4% |
| Finance costs | 745 | 680 | 595 | 515 | 478 | 480 | 554 | 522 |
| Depreciation | 235 | 216 | 212 | 203 | 187 | 181 | 199 | 193 |
| Profit before tax | 943 | 1,178 | 1,056 | 874 | 633 | 361 | 398 | 901 |
| Tax | 228 | 319 | 321 | 239 | 141 | 79.5 | 72.8 | 327 |
| Net profit | 724 | 868 | 740 | 646 | 494 | 283 | 314 | 568 |
| Net margin | 3.5% | 3.9% | 3.6% | 4.2% | 4.4% | 3.6% | 3.5% | 4.4% |
| EPS (₹) | 10.76 | 13.06 | 11.32 | 0.00 | 7.91 | 4.40 | 5.59 | 9.63 |
| Net profit YoY | −16.6% | +17.3% | +14.6% | +30.8% | +74.5% | −9.9% | −44.7% | – |
EPS is as filed for each period and is not restated for later bonus issues or splits.
Cash flow
annual · ₹ crore| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Operating cash flow | −459 | 742 | 1,359 | 1,100 | 1,416 |
| Investing cash flow | −766 | −58.6 | −319 | −192 | −66 |
| Financing cash flow | 878 | −247 | −771 | −893 | −1,275 |
| Capital expenditure | 955 | 320 | 285 | 347 | 215 |
| Free cash flow (CFO − capex) | −1,414 | 422 | 1,074 | 753 | 1,201 |
Net profit trend
annual, ₹ croreFY21
₹283
FY22
₹494+75%
FY23
₹646+31%
FY24
₹740+15%
FY25
₹868+17%
FY26
₹724−17%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 6 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 6 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 15 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 15 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | – | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 5 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 5 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 6 Nov 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 14.1×11.1×
P/B5Y avg 1.62×1.06×
ROEFY26, on average equity9.5%
Net margin3.5%
Debt / equity0.44×
Revenue CAGR (3Y)10.2%
Profit CAGR (3Y)3.9%
EPS (TTM)₹11.92
Market cap₹8,339 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
1.06×
vs 8-point avg 1.62× (−34%)
0.77× low1.62× avg2.76× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹26,006 Cr+24%
Net worth₹7,869 Cr+7%
Total borrowings₹3,457 Cr+117%
Cash & bank balances₹642 Cr−35%
Investments₹153 Cr+3%
Inventories₹2,445 Cr+35%
Trade receivables₹3,784 Cr+13%
Trade payables₹7,896 Cr−4%
Change vs the same date a year earlier.
Revenue mix FY26
Construction98.7%result ₹1,117 Cr
Real Estate1.3%result ₹30.8 Cr
Segment revenue as reported, before inter-segment eliminations.