### **Company Overview** Ahluwalia Contracts (India) Limited (ACIL) is one of India’s leading integrated construction companies, with over **five decades of experience** in infrastructure development. Headquartered in Noida, the company operates as a pan-India EPC (Engineering, Procurement, and Construction) player with a strong track record of delivering complex, large-scale infrastructure projects. ACIL is led by its three hands-on promoters: - **Bikramjit Ahluwalia** (Founder, Chairman & Managing Director) - **Vikas Ahluwalia** - **Shobhit Uppal** The company maintains a **conservative financial model**, avoiding interest-bearing mobilization advances in most projects and focusing on internal cash generation for long-term sustainability. --- ### **Core Business Segments** ACIL operates across two primary domains: #### 1. **Building & Infrastructure Construction** - Offers **turnkey EPC solutions** to both public and private sector clients. - Focus areas include: - Residential & commercial complexes - IT parks, industrial complexes, and factories - Hospitals, hotels, and educational institutions - Metro stations, depots, and railway station redevelopment - Urban infrastructure, data centers, and automated parking systems - Airports (civil works and terminal buildings) The company has completed landmark projects such as: - **Aerocity Bharti Project** and retail developments at Indira Gandhi International Airport - **DLF housing and commercial projects** in Gurgaon - **Max Hospital (Dwarka)** and **Sant Nirankari Hospital (Burari)** - **National Police Academy, Nepal** - **Bus terminal and commercial complex** for RSRTC in Kota #### 2. **Water & Effluent Treatment Business** - Provides comprehensive **end-to-end water management solutions**: - Potable water treatment and supply - Wastewater management, sewage treatment plants (STPs) - Irrigation, desalination, storage, conveyance, and smart water infrastructure - Industrial water solutions The segment is supported by an **in-house Water Technology Centre**, enabling integration of advanced technologies and innovation. Government initiatives such as **Jal Jeevan Mission (extended to 2028)**, **AMRUT 2.0**, and **river interlinking projects** are driving growth in this business vertical. --- ### **Geographical Presence & Operations** - Active in **19 states across India**, including recent expansion into Assam. - One international presence in **Nepal**. - Total operational sites: **53 in India**, **1 in Nepal**. - No export revenue; all turnover is domestic. #### **Regional Breakdown of Unexecuted Order Book (as of Nov 2025):** | Region | Value (₹ Million) | % Share | |--------------|-------------------|----------| | **North** | ₹90,471 | 50.0% | | **West** | ₹54,128 | 30.0% | | **East** | ₹27,246 | 15.1% | | **South** | ₹6,449 | 3.6% | | **Overseas (Nepal)** | ₹2,282 | 1.3% | | **Total** | **₹180,576** | **100%** | > ⚙️ *Trend Analysis*: The North region continues to dominate the order book, rising from 39.9% in Jun 2025 to 50% in Nov 2025, indicating increasing project awards in northern states like Haryana, Uttar Pradesh, and Delhi-NCR. --- ### **Order Book Growth Trajectory (Unexecuted Orders)** | Date | Order Book (₹ Million) | YoY Growth | Key Observations | |------------|------------------------|-----------|------------------| | Nov 2023 | ₹135,000 approx.* | – | Balanced public-private mix | | Feb 2024 | ₹142,000 approx.* | +5.2% | Expansion into new geographies | | Jun 2025 | ₹157,751 | +11.0% | Steady additions | | Aug 2025 | ₹165,821 | +5.1% | West & East still significant | | Nov 2025 | **₹180,576** | **+8.9%** | Strong pickup in North-led orders | > \* *Estimated based on available data* This reflects consistent **order inflow momentum**, driven by government infrastructure spending and private sector trust in ACIL's execution capability. --- ### **Client Profile** ACIL serves a diversified client base: - **Central and State Governments** - **Public Sector Undertakings (PSUs)** — e.g., CPWD, NBCC, RSRTC - **Top Real Estate Developers** — DLF, Max, Signature Global, Adani - **Institutional Clients** — Amity University, Bennett University - **Industrial & Tech Clients** — Welspun (STP project), NIIT The company maintains strict **client evaluation criteria**, prioritizing financial strength, past performance, and payment track record — especially for private sector engagements. As of late 2023, the order book achieved a **70:30 public-to-private split**, reflecting a strategic shift toward balanced risk exposure. --- ### **Key Projects (Recent and Ongoing)** | Project | Client | Value | Status | |--------|-------|-------|--------| | DLF Sector 62 Residential Project (Gurgaon) | DLF | ~₹2,000 crores | Expected completion: Sep–Oct 2026; monthly billing: ₹25–30 crores | | DLF Commercial Project (Delhi-Gurgaon Hwy, 6.5 Mn sq ft) | DLF | Significant | Construction commenced; billing run rate: ₹25–30 cr/month | | Signature Global Project | Signature Global | Growing | Monthly turnover: ₹15–20 crores | | RSRTC Bus Terminal & Commercial Complex (Kota) | RSRTC | ₹1,326.385 crores | Income-generating asset under development agreement | | Sewage Treatment Plant (Dharavi) | Welspun | Large-scale EPC | Civil works in progress | | Hospitals in Hamirpur, Jammu, Chamba (Himachal Pradesh) | CPWD / NBCC | Multi-project | Scheduled for completion in 2024–2025 | --- ### **Growth Strategy** ACIL’s growth strategy is built on: 1. **Market Diversification**: Expanding into new regions like South India (Bangalore, Hyderabad) and Assam. 2. **Sectoral Expansion**: Moving into airports, metro components, and data centers while staying within core construction competencies. 3. **Vertical Strengthening**: Investing in **in-house capabilities** for electromechanical, plumbing, firefighting, and finishing work — enhancing EPC self-sufficiency. 4. **Digitalization & Operational Efficiency**: Leveraging IT and automation to improve project monitoring and reduce working capital. 5. **Sustainable Development**: Strong focus on ESG through certified **Integrated Management System (IMS)** (ISO 9001, 14001, OHSAS 18001). 6. **Strategic Alliances**: Operates via joint ventures (e.g., **ACIL-RCPL JV**) and wholly-owned subsidiaries (Prem Sagar Merchants Pvt. Ltd., Splendor Distributors Pvt. Ltd.). --- ### **Financial Discipline & Risk Management** - **No reliance on interest-bearing mobilization advances** — only used in ~40% of projects; goal is full elimination within 3 years. - Selective bidding process based on: - Client creditworthiness - Payment history - Geopolitical and regulatory stability of the region - Maintains **double-digit EPC margins**, though flexible for trusted long-term partners. External risks include **NGT-related work stoppages** (especially in Delhi NCR) and **raw material price volatility**, which have affected margins in the past. --- ### **Succession & Governance** - Internal talent development and **homegrown systems** are central to operations. - **Succession planning framework** in place for all critical management roles. - Promoter-led culture ensures agility and long-term vision. ---