G R Infraprojects LimitedQ1 FY27 Results & Financial Update
G R Infraprojects Limited: Q1 FY27 consolidated results and company financials – revenue ₹2,784.11 Cr, PAT ₹357.79 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore G R Infraprojects Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
For the quarter ended 30 June 2026 (Q1 FY27), G R Infraprojects reported consolidated revenue from operations of INR 2,784.11 crore, alongside total income of INR 2,829.20 crore.
Consolidated profit before tax (PBT) reached INR 479.73 crore for the quarter, bolstered by operating performance and exceptional items.
Total consolidated profit for the period (PAT) stood at INR 357.79 crore, translating to basic and diluted earnings per share of INR 36.93 for the quarter.
The quarter's profitability benefited from an exceptional gain of INR 61.21 crore recognized following a Qualified Institutional Placement (QIP) by Indus Infra Trust, an associate company, which reduced the Group's ownership interest from 43.56% to 31.58% while retaining significant influence.
Segment performance highlights divergent operational dynamics across the company's core divisions, with the BOT / Annuity Projects segment generating INR 1,517.58 crore in revenue and the EPC segment contributing INR 892.21 crore.
Finance costs for the quarter were contained at INR 102.65 crore, while depreciation and amortization expenses stood at INR 46.04 crore, reflecting steady capital asset management.
The statutory auditors, B S R and Co, issued an unmodified review conclusion on both the standalone and consolidated financial results for the quarter.
01 · Business model
What does G R Infraprojects do?
G R Infraprojects Limited is a leading Indian infrastructure development and construction company with extensive operations spanning roads, highways, railways, and power transmission sectors.
The company operates primarily through Engineering, Procurement, and Construction (EPC) contracts as well as Build, Operate, and Transfer (BOT) and Hybrid Annuity Model (HAM) projects under concession agreements.
GR Infraprojects handles comprehensive end-to-end execution, encompassing design, engineering, heavy construction, operation, and ongoing maintenance of diverse transportation and utility networks across India.
The business model leverages vertical integration, extensive proprietary equipment deployment, and skilled project execution teams to deliver large-scale public infrastructure assignments efficiently.
02 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹2,784.11 Cr |
| Total income | ₹2,829.20 Cr |
| Profit before tax | ₹479.73 Cr |
| Profit after tax | ₹357.79 Cr |
| EPS | ₹36.93 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 12.9% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 17.2% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹45.09 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Consolidated revenue from operations of INR 2,784.11 crore was anchored by the Build, Operate and Transfer (BOT) / Annuity Projects segment at INR 1,517.58 crore, Engineering, Procurement and Construction (EPC) activities at INR 892.21 crore, and Others at INR 170.16 crore.
Other income contributed INR 45.09 crore to the consolidated top line during Q1 FY27.
What drove margins
Construction expenses formed the largest cost component at INR 1,904.10 crore, while the cost of materials consumed stood at INR 141.69 crore.
Employee benefits expense was reported at INR 158.07 crore, other expenses totaled INR 117.89 crore, and finance costs were managed at INR 102.65 crore.
04 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
BOT / Annuity Projects recorded segment revenue of INR 1,517.58 crore with segment results of INR 291.80 crore. EPC recorded segment revenue of INR 892.21 crore with segment results of INR 142.29 crore. Others generated revenue of INR 170.16 crore with segment results of INR 15.54 crore.
05 · Reported developments
What changed operationally
Statutory auditors B S R and Co issued an unmodified review report on both the standalone and consolidated financial results for the quarter ended 30 June 2026.
06 · Items worth noticing
The line items that can distort a quick read
Consolidated financial results include an exceptional gain of INR 61.21 crore recognized on the dilution of the Group's stake in associate Indus Infra Trust following its QIP.
07 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
The holding company's listed unsecured non-convertible debentures aggregated to INR 215.00 crore as of 30 June 2026. Subsidiary Rajgarh Transmission Limited held secured NCDs of INR 297.61 crore secured by current assets, escrow accounts, and share pledges, maintaining a security cover of 1.38 times.
08 · Beyond the numbers
What changed beyond the numbers
Reported update
Associate QIP Gain
The company recorded an exceptional gain of INR 61.21 crore in consolidated results following the QIP and unit issuance by associate Indus Infra Trust, which adjusted the Group's holding to 31.58%.
09 · Key Q&A
The quarter, answered directly
What does G R Infraprojects do?
G R Infraprojects Limited is a leading Indian infrastructure development and construction company with extensive operations spanning roads, highways, railways, and power transmission sectors.
What is the clearest takeaway from Q1 FY27?
For the quarter ended 30 June 2026 (Q1 FY27), G R Infraprojects reported consolidated revenue from operations of INR 2,784.11 crore, alongside total income of INR 2,829.20 crore.
What drove revenue or demand?
Consolidated revenue from operations of INR 2,784.11 crore was anchored by the Build, Operate and Transfer (BOT) / Annuity Projects segment at INR 1,517.58 crore, Engineering, Procurement and Construction (EPC) activities at INR 892.21 crore, and Others at INR 170.16 crore.
What mattered most for margins or profitability?
Construction expenses formed the largest cost component at INR 1,904.10 crore, while the cost of materials consumed stood at INR 141.69 crore.
What changed operationally beyond the headline numbers?
The company recorded an exceptional gain of INR 61.21 crore in consolidated results following the QIP and unit issuance by associate Indus Infra Trust, which adjusted the Group's holding to 31.58%.
What should the next disclosure help confirm?
Monitor ongoing execution milestones across major HAM and EPC highway and transmission projects.
10 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
11 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Execution Progress: Monitor ongoing execution milestones across major HAM and EPC highway and transmission projects.
- 02
Concession Monetization: Track further developments regarding infrastructure trust transactions and asset monetization initiatives.
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