1. Order book of ₹1,800 crore - The company reports a strong order book of ₹1,800 crore across 28+ ongoing projects in 13 states. At roughly 3.3x the latest annual revenue of ₹542 crore, this backlog provides multi-year revenue visibility and absorbs fixed costs before a single new contract is signed.
2. Kohima Bypass Road (₹220 crore) - Niraj received a work order from NHIDCL for an 11.27 km two-lane bypass in Nagaland under SARDP-NE, valued at ₹220 crore and to be executed in 24 months. This single order equals 41% of last reported annual revenue, adding a large, funded project in a region where the government is prioritising connectivity.
3. Goa four-laning (₹322 crore JV) - A JV work order from MoRTH for four-laning the Ponda-to-Bhoma section of NH-748 is valued at ₹322 crore with an 18-month execution window. The project deepens the company's presence in the highways segment with a contract size that is material relative to its revenue base.
4. Northeast Frontier Railway package (₹311 crore in three orders) - Three NF Railway JV orders - a road-over-bridge (₹51 crore), nine minor bridges and related works (₹179 crore), and a doubling-project package near Deepor Beel (₹82 crore) - together total ₹311 crore with execution timelines of 9 to 18 months. The cluster diversifies the order book into railway civil works, where government capex is rising.
5. Preferential issue strengthens bidding capacity - A preferential issue raised ₹66.5 crore, with ₹17.9 crore earmarked for working capital to fund EMDs and performance guarantees for government contracts. A stronger balance sheet lets the company bid for larger EPC tenders without stretching its existing working capital lines.
6. Mumbai FOB and connectivity cluster (₹137 crore) - Three MMRDA and MCGM contracts for linkway FOBs, a travellator-connected FOB, and Sion ROB reconstruction total ₹137 crore with 12-to-18-month timelines. Urban transport infrastructure in Mumbai is a steady, funded segment that adds metropolitan credentials to the project portfolio.
7. Great Nicobar Island bridge (₹96 crore) - A BRO order for a 216-metre major permanent bridge on Great Nicobar Island is valued at ₹96 crore with a 30-month execution period. The project extends the company's geographic reach to the Andaman and Nicobar Islands, a strategically funded corridor.
8. Acquirer stake purchase and open offer - An acquirer has agreed to buy 41.04% of the company via share purchase agreements and has launched an open offer for an additional 26% at ₹29 per share, with an escrow deposit of ₹11.3 crore placed in June 2026. A change in control can bring fresh strategic direction and capital allocation priorities.