• Cost inflation impact: Metals and raw material prices have risen 20% to 25% due to Middle East disruptions, but the company faces minimal impact as most contracts are pass-through.
• Margin target: After being weighed down by legacy UP projects, operating margins are projected to recover from the 9-month FY26 average of 6.3% to 8%–9% by March FY27.
• Order book outlook: The order book is expected to surpass ₹13,000 crore by March FY26, with FY27 visibility supported by over ₹12,000 crore in projects from the Adani Group alongside religious tourism and Commonwealth projects.
• Debt-free timeline: The company aims to become debt-free by June 1 by recovering at least ₹200 crore of older receivables by April and receiving 10% mobilization advances from Adani Group.
• Dharavi redevelopment progress: The company secured the Matunga block order and is in the mobilization process, while the Mahim project has completed excavation and is moving into RCC work.