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G R Infraprojects Q2 FY27 results: net profit up 53.1% to ₹290.30 crore, revenue up 45.1%
G R Infraprojects Limited reported Q2 FY27 consolidated revenue of ₹2,325 crore, up 45.1% from Q2 FY26, while EBITDA rose 20.9% to ₹499.39 crore. Net profit increased 53.1% to ₹290.30 crore, but revenue and profit were lower than Q1 FY27.
Key points
- Consolidated revenue rose 45.1% year on year to ₹2,325 crore in Q2 FY27.
- EBITDA increased 20.9% from a year earlier to ₹499.39 crore, while the margin fell 4.3 percentage points to 21.5%.
- Net profit rose 53.1% year on year to ₹290.30 crore, and basic EPS increased 51.9% to ₹30.25.
- Against Q1 FY27, revenue fell 16.5% to ₹2,325 crore and net profit declined 18.9% to ₹290.30 crore.
- H1 FY27 revenue was ₹5,109.53 crore, up 42.3% from H1 FY26, while PAT rose 49.3% to ₹648.09 crore.
How did G R Infraprojects perform in Q2 FY27?
G R Infraprojects reported consolidated revenue of ₹2,325 crore in Q2 FY27, up 45.1% from ₹1,602 crore in Q2 FY26. EBITDA rose 20.9% to ₹499.39 crore, but the EBITDA margin fell 4.3 percentage points to 21.5% from 25.8%. The net profit margin increased 0.7 percentage points to 12.5%.
Profit before tax increased 51.2% to ₹393.62 crore from ₹260.39 crore, while net profit rose 53.1% to ₹290.30 crore from ₹189.56 crore. Basic EPS increased 51.9% to ₹30.25 from ₹19.91. On a standalone basis, revenue was ₹2,019.10 crore and PAT was ₹161.04 crore.
Against Q1 FY27, revenue fell 16.5% from ₹2,784 crore to ₹2,325 crore, while EBITDA declined 4.4% to ₹499.39 crore from ₹522.12 crore. The EBITDA margin increased 2.7 percentage points to 21.5% from 18.8%. PAT fell 18.9% to ₹290.30 crore from ₹357.79 crore, and basic EPS declined 18.1% to ₹30.25 from ₹36.93.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 2,325 | 2,784 | 1,602 | +45.1% | −16.5% |
| Other income | 49.04 | 45.09 | 24.01 | +104.2% | +8.8% |
| Total expenses | 1,981 | 2,411 | 1,366 | +45.0% | −17.8% |
| EBITDA | 499.39 | 522.12 | 412.91 | +20.9% | −4.4% |
| EBITDA margin | 21.5% | 18.8% | 25.8% | −4.3 pp | +2.7 pp |
| Profit before tax | 393.62 | 479.73 | 260.39 | +51.2% | −17.9% |
| Tax | 103.32 | 121.93 | 70.83 | +45.9% | −15.3% |
| Net profit | 290.30 | 357.79 | 189.56 | +53.1% | −18.9% |
| EPS (₹) | 30.25 | 36.93 | 19.91 | +51.9% | −18.1% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in G R Infraprojects' costs and profit?
Total expenses increased 45.0% from ₹1,366 crore in Q2 FY26 to ₹1,981 crore in Q2 FY27. Cost of materials rose 79.2% by ₹66.41 crore to ₹150.21 crore, employee cost increased 24.0% by ₹33.46 crore to ₹172.78 crore, and other expenses increased 56.5% by ₹547.22 crore to ₹1,516 crore.
Finance costs declined 12.3% by ₹15.43 crore to ₹110.17 crore, while depreciation fell 12.3% by ₹6.27 crore to ₹44.65 crore. Other income increased 104.2% by ₹25.03 crore to ₹49.04 crore. There was no exceptional item in either quarter.
Tax expense increased 45.9% by ₹32.49 crore to ₹103.32 crore from ₹70.83 crore. The available figures show the changes in costs, income and tax but do not state why these movements occurred.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 150.21 | 83.80 | +66.41 | +79.2% |
| Employee cost | 172.78 | 139.32 | +33.46 | +24.0% |
| Finance costs | 110.17 | 125.60 | −15.43 | −12.3% |
| Depreciation | 44.65 | 50.92 | −6.27 | −12.3% |
| Other expenses | 1,516 | 969.16 | +547.22 | +56.5% |
| Total expenses | 1,981 | 1,366 | +615.08 | +45.0% |
| Other income | 49.04 | 24.01 | +25.03 | +104.2% |
| Tax | 103.32 | 70.83 | +32.49 | +45.9% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue rose 42.3% to ₹5,109.53 crore from ₹3,589.93 crore in H1 FY26. Total income increased 42.4% to ₹5,203.66 crore from ₹3,653.46 crore. Profit before tax rose 50.2% to ₹873.34 crore from ₹581.53 crore.
PAT increased 49.3% to ₹648.09 crore from ₹433.97 crore, while basic EPS rose 48.8% to ₹67.18 from ₹45.14. The Board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026 on 4 November 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 5,110 | 3,590 | +42.3% |
| Profit before tax | 873.34 | 581.53 | +50.2% |
| Net profit | 648.09 | 433.97 | +49.3% |
| EPS (₹) | 67.18 | 45.14 | +48.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets increased to ₹18,016.37 crore as of 30 September 2026 from ₹16,048.13 crore as of 31 March 2026. Total equity rose to ₹10,042.08 crore from ₹9,391.06 crore, while borrowings increased to ₹5,938.39 crore from ₹4,845.41 crore. Cash fell to ₹290.32 crore from ₹983.48 crore.
Inventories increased to ₹1,013.52 crore from ₹986.23 crore, trade receivables rose to ₹1,180.63 crore from ₹744.94 crore, and trade payables increased to ₹1,156.39 crore from ₹1,105.13 crore. In H1 FY27, operating cash flow was an outflow of ₹1,873.81 crore, compared with an outflow of ₹1,428.97 crore in H1 FY26.
Investing cash flow was an inflow of ₹304.95 crore in H1 FY27, compared with ₹179.96 crore a year earlier, while financing cash flow was an inflow of ₹875.70 crore against ₹768.86 crore. Capital expenditure was ₹282.86 crore, up from ₹103.00 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 18,016 | 16,048 |
| Total equity | 10,042 | 9,391 |
| Borrowings | 5,938 | 4,845 |
| Cash and equivalents | 290.32 | 983.48 |
| Inventories | 1,014 | 986.23 |
| Trade receivables | 1,181 | 744.94 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −1,874 | −1,429 |
| Cash from investing | 304.95 | 179.96 |
| Cash from financing | 875.70 | 768.86 |
| Capital expenditure | 282.86 | 103 |
Source: Company's results filing (XBRL).
How has G R Infraprojects done over the last 8 quarters?
Revenue increased year on year in each of the last five quarters, while profit increased year on year in each of the last two quarters. Over the reported series, revenue peaked at ₹2,784.11 crore in Q1 FY27 and was lowest at ₹1,602.14 crore in Q2 FY26. Q2 FY27 revenue was ₹2,325.42 crore.
PAT peaked at ₹403.16 crore in Q4 FY25 and was lowest at ₹189.56 crore in Q2 FY26. In Q2 FY27, PAT was ₹290.30 crore, lower than ₹357.79 crore in Q1 FY27. EBITDA margin bottomed at 16.6% in Q4 FY26, peaked at 26.8% in Q4 FY25, and improved to 21.5% in Q2 FY27 from 18.8% in Q1 FY27.
Which businesses drove the quarter?
Engineering, Procurement and Construction reported revenue of ₹506.15 crore in Q2 FY27, up 58.1% from ₹320.06 crore in Q2 FY26. Segment EBIT increased to ₹50.80 crore from ₹36.92 crore, with an EBIT margin of 10.0%.
Build, Operate and Transfer and Annuity Projects reported revenue of ₹1,643.02 crore, up 42.4% from ₹1,153.76 crore. EBIT rose to ₹359.18 crore from ₹302.53 crore, and the EBIT margin was 21.9%. The others segment reported revenue of ₹176.25 crore, up 37.3% from ₹128.32 crore, and EBIT of ₹16.16 crore against ₹54.46 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Engineering, Procurement and Construction (EPC) | 506.15 | +58.1% | 50.80 | 10.0% |
| Build, Operate and Transfer (BOT)/ Annuity Projects | 1,643 | +42.4% | 359.18 | 21.9% |
| others | 176.25 | +37.3% | 16.16 | 9.2% |
Source: Company's results filing (XBRL segment data).
How did other Civil Construction companies do?
A total of 21 other Civil Construction companies filed results for this quarter, with a median revenue growth of 7.6%. G R Infraprojects’ revenue growth was higher than that of 7 peers and lower than that of 14 peers. The peer comparison is as of 5 November 2026.
Among 22 companies whose profit was compared, 16 reported higher profit. G R Infraprojects was excluded from the peer counts.
| G R Infraprojects revenue growth (YoY) | +45.1% |
|---|---|
| Median of 21 other Civil Construction companies | +7.6% |
| Companies with slower revenue growth than G R Infraprojects | 14 of 21 |
| Companies with faster revenue growth than G R Infraprojects | 7 of 21 |
| Companies whose net profit rose | 16 of 22 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was G R Infraprojects' revenue in Q2 FY27?
Revenue from operations was ₹2,325 crore, up 45.1% from ₹1,602 crore in Q2 FY26 (consolidated).
Did G R Infraprojects make a profit in Q2 FY27?
Yes. Net profit was ₹290.30 crore, against a net profit of ₹189.56 crore in Q2 FY26.
What was G R Infraprojects' EPS in Q2 FY27?
Basic earnings per share were ₹30.25, against ₹19.91 in Q2 FY26.
When did G R Infraprojects announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of Unaudited Financial Results For The Quarter And Half Year Ended 30Th September 2026. (BSE, 28 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting (BSE, 4 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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