Transcript of an Earning call for the quarter and year ended 31st March 2026.

G R Infraprojects reported Q4 FY26 standalone revenue of INR 2,521 crores, up 27% YoY, though EBITDA margin contracted to ~11% from 15.5% in Q4 FY25 due to one-time claims income in the prior year and higher construction costs. Full-year standalone revenue was INR 7,620 crores (+17% YoY). The company repaid INR 262 crores of debt, leaving standalone debt at INR 234 crores (debt-to-equity 0.03x). Consolidated PAT for Q4 fell to INR 210 crores from INR 403 crores, partly due to lower EBITDA at the group level (14.73% vs 23.96% YoY). New orders secured in FY26 were INR 10,700 crores, and the order book stands at ~INR 26,470 crores. The company monetized four HAM assets to Indus Infra Trust for INR 321 crores, recording an exceptional gain of INR 253 crores. Management guided FY27 revenue growth of ~15% and targets new order wins of INR 20,000–22,000 crores across roads, power transmission, tunnels, oil & gas, and logistics. Capex for FY27 is planned at INR 300–350 crores.