Ahluwalia Contracts Q1 FY27: Order Book Touches ₹29,714 Crore, Revenue Rises 12%

BY ADMIN • FILED 17 Aug 2026, 9:24 PM

Ahluwalia Contracts (India) Limited (ACIL) presented its Q1 FY27 performance on August 14, 2026, highlighting a strong order pipeline, diversified project portfolio and continued expansion across residential, institutional, infrastructure, commercial and industrial construction.

The company, which has around five decades of experience in engineering, design and construction, currently has more than 55 ongoing projects across 16 states along with one overseas project.

Q1 FY27 Revenue Rises to ₹1,126 Crore

Ahluwalia Contracts reported income from operations of ₹1,125.8 crore in Q1 FY27, compared with ₹1,004.9 crore in Q1 FY26.

This represents approximately 12% year-on-year growth.

Total income stood at ₹1,141.5 crore, compared with ₹1,020.8 crore in the year-ago quarter.

However, profitability was lower during the quarter.

Q1 FY27 Key Financial Highlights

Income from operations: ₹1,125.8 crore
Q1 FY26 income from operations: ₹1,004.9 crore
Total income: ₹1,141.5 crore
EBITDA: ₹48.2 crore
EBITDA margin: 4.3%
Net profit: ₹11.4 crore
Net profit margin: 1.0%

EBITDA was ₹86.3 crore in Q1 FY26, while PAT stood at ₹51.1 crore in the corresponding period.

₹29,714 Crore Gross Order Book

One of the biggest highlights of the presentation is the company’s large order book.

As of June 30, 2026, Ahluwalia Contracts had a gross order book of ₹29,713.8 crore, excluding GST.

The unexecuted order book stood at ₹20,663.5 crore, excluding GST.

The company’s gross order book has increased significantly over the past few years:

FY22: ₹11,323.3 crore
FY23: ₹13,491.9 crore
FY24: ₹18,232.9 crore
FY25: ₹22,316.0 crore
FY26: ₹29,675.7 crore

The unexecuted order book also increased from ₹5,436.2 crore in FY22 to ₹21,096.3 crore in FY26.

This provides substantial revenue visibility for the company’s future execution.

Q1 FY27 Order Inflows at ₹512 Crore

Ahluwalia Contracts reported year-to-date order inflows of ₹512.1 crore, excluding GST, as of the presentation date.

The company continues to participate in large construction and infrastructure opportunities across India, with projects spread across multiple sectors.

Central Vista Project Among Largest Orders

The company’s major ongoing projects include several high-value developments.

The Central Vista Project – Common Central Secretariat Building has an order value of approximately ₹2,601 crore excluding GST, with ₹2,594 crore still unexecuted as of June 30, 2026.

Other major projects include:

India Jewellery Park, Mumbai: ₹2,157 crore
Redevelopment of Chhatrapati Shivaji Maharaj Terminus (CSMT), Mumbai: ₹2,076 crore
The Dahlias, DLF 5, Gurugram: ₹1,994 crore
Signature Global Business Park: ₹1,307 crore
DLF City Center – Downtown: ₹1,095 crore
Lal Bahadur International Airport, Varanasi: ₹894 crore
Whiteland Corporation, Sector 103, Gurugram: ₹821 crore
Bihar Animal Science University, Patna: ₹795 crore
Bihar State Tourism Development Corporation, Sitamarhi: ₹733 crore

These projects demonstrate the company’s presence across residential, commercial, institutional and infrastructure construction.

Residential Segment Leads Order Book

Residential projects represent the largest component of Ahluwalia Contracts’ unexecuted order book.

The segment-wise classification as of June 2026 was:

Residential: ₹8,198 crore or 39.7%
Institutional: ₹3,784 crore or 18.3%
Infrastructure: ₹3,756 crore or 18.2%
Commercial/Industrial: ₹3,592 crore or 17.4%
Hospital: ₹1,210 crore or 5.8%
Hotel: ₹123 crore or 0.6%

The total unexecuted order book stood at ₹20,663.5 crore.

The diversified order mix reduces dependence on a single construction segment.

Private Sector Accounts for 61.7% of Order Book

The company’s order book is also diversified by client type.

Private-sector projects account for the largest share at 61.7%, equivalent to approximately ₹12,751 crore.

Government projects account for the remaining major portion:

Private: 61.7%
Central Government: 28.3%
State Government: 9.3%
Overseas Government: 0.7%

This mix provides exposure to both private-sector construction spending and government infrastructure investment.

North India Accounts for More Than Half of Order Book

Ahluwalia Contracts has a diversified geographical presence, although North India remains its largest market.

The regional order book classification is:

North: 52.0%
West: 23.5%
East: 16.3%
South: 7.5%
Overseas – Nepal: 0.7%

The North region accounts for approximately ₹10,740 crore of the unexecuted order book.

The company’s presence across multiple regions supports its ability to participate in construction opportunities across India.

Five Decades of Construction Experience

Ahluwalia Contracts has around five decades of experience in infrastructure development.

The company provides turnkey engineering, design and construction solutions to public and private-sector clients.

Its completed and ongoing project experience covers:

Residential and commercial complexes
Hotels
Institutional buildings
Hospitals
Corporate offices
IT parks
Industrial complexes
Automated car parking
Townships
Metro stations and depots
Railway station redevelopment
Urban infrastructure
Data centres

The company’s long operating history and diversified capabilities remain key competitive advantages.

Strong Infrastructure and Execution Capabilities

Ahluwalia Contracts highlights several competitive strengths, including mechanized construction solutions, in-house capabilities, a broad service portfolio and an experienced management team.

The company also holds ISO 9001, ISO 14001, ISO 27001 and ISO 45001 certifications.

Its ability to execute large and technically demanding projects is an important factor behind the company’s growing order book.

Revenue and Profit Growth Over the Long Term

The company has recorded substantial growth in its operating scale over the past five years.

Standalone income from operations increased from ₹2,692.5 crore in FY22 to ₹4,565.2 crore in FY26.

EBITDA increased from ₹256.6 crore to ₹434.5 crore during the same period.

PAT increased from ₹155.3 crore in FY22 to ₹264.3 crore in FY26.

The presentation indicates three-year CAGR of approximately:

17% for income from operations
13% for EBITDA
11% for PAT

Net Worth Crosses ₹2,000 Crore

Ahluwalia Contracts’ net worth has also expanded steadily.

Net worth increased from ₹1,036.5 crore in FY22 to ₹2,060 crore in FY26.

The company said its net worth crossed ₹20 billion in 2026, marking another milestone in its financial development.

Major Milestones in 2026

The company highlighted two significant developments during 2026.

First, its net worth crossed ₹20 billion.

Second, Ahluwalia Contracts secured the Central Vista Project – Division 12, valued at approximately ₹3,069.7 crore including GST.

The project adds to the company’s portfolio of large government and institutional construction projects.

Outlook for Ahluwalia Contracts

Ahluwalia Contracts enters FY27 with a substantial ₹29,714 crore gross order book and more than ₹20,663 crore of unexecuted orders.

The company’s diversified exposure across residential, institutional, infrastructure, commercial, industrial, hospital and hotel projects provides multiple sources of future revenue.

The company’s presence across North, West, East and South India, along with its Nepal project, further strengthens its geographical footprint.

The key challenge in the near term is profitability. While revenue grew by around 12% year-on-year in Q1 FY27, EBITDA margin declined to 4.3% from 8.6% in Q1 FY26, while PAT margin declined to 1%.

Investors will therefore be watching project execution, order inflows and margin recovery during the remaining quarters of FY27.

Key Takeaways from Ahluwalia Contracts Q1 FY27

Q1 FY27 income from operations: ₹1,125.8 crore
Revenue growth: approximately 12% YoY
Q1 FY27 EBITDA: ₹48.2 crore
EBITDA margin: 4.3%
Q1 FY27 PAT: ₹11.4 crore
Gross order book: ₹29,713.8 crore
Unexecuted order book: ₹20,663.5 crore
Q1/YTD order inflows: ₹512.1 crore
Residential segment: 39.7% of unexecuted order book
Private-sector projects: 61.7%
North India: 52% of unexecuted order book
FY26 total income: ₹4,636.7 crore
FY26 EBITDA: ₹434.5 crore
FY26 PAT: ₹264.3 crore
FY26 net worth: ₹2,060 crore

Conclusion

Ahluwalia Contracts’ Q1 FY27 performance presents a mixed picture. The company delivered healthy revenue growth and entered FY27 with a very large order book, but profitability declined sharply during the quarter.

With nearly ₹29,714 crore of gross orders, more than ₹20,663 crore of unexecuted work, major projects such as Central Vista and CSMT, and exposure to residential, institutional and infrastructure construction, the company has strong execution visibility.

The key focus for investors will be whether Ahluwalia Contracts can convert its large order book into revenue while improving EBITDA and net profit margins in the coming quarters.

Source: Ahluwalia Contracts (India) Limited Q1 FY27 Investor Presentation dated August 14, 2026.

Disclaimer: This article is based on information disclosed in the company’s investor presentation and is intended for informational purposes only. It should not be considered investment advice or a recommendation to buy or sell any security.