Om Infra FY27 Outlook: ₹2,015 Crore Order Book, ₹1,500 Crore Order Target and CAPEX Plans
Om Infra Limited has outlined an ambitious growth strategy for FY27, supported by a strong order book, a healthy bid pipeline, government spending on water and hydropower infrastructure, and potential cash inflows from non-core asset monetisation and arbitration awards.
In its Q1 FY27 investor presentation, the company highlighted its focus on expanding its presence in water infrastructure, hydro-mechanical projects, pumped storage projects, and Jal Jeevan Mission (JJM)-related opportunities.
While the company has not disclosed a specific rupee amount for FY27 capital expenditure, management indicated that potential surplus funds from asset monetisation and arbitration awards could provide a 3–5 year runway for CAPEX and working capital.
Om Infra’s ₹2,015 Crore Order Book
As of June 30, 2026, Om Infra had a consolidated outstanding order book of approximately ₹2,014.91 crore.
The order book comprises:
- Jal Jeevan Mission: approximately ₹1,346 crore
- Hydro & Water: approximately ₹668 crore
The order book gives the company a book-to-bill ratio of around 4.21x, based on the company’s presentation, providing visibility for future execution.
The company also highlighted that payment mechanisms differ across projects, with some contracts being front-loaded and others back-loaded.
₹1,500 Crore Order Inflow Target for FY27
Management has set an order inflow target of ₹1,500 crore for FY27.
The company is targeting new opportunities in:
- Hydro-mechanical projects
- Pumped Storage Projects
- Sewage Treatment Plants
- Water infrastructure
- Irrigation projects
This target is important because continued order inflows will be critical for sustaining the company’s growth beyond its existing order book.
Two Projects Worth More Than ₹1,050 Crore in the Pipeline
Om Infra has already emerged as the lowest bidder (L1) for two major EPC water infrastructure projects.
Andheri Medium Irrigation Project — Rajasthan
The project is valued at approximately ₹482.27 crore, excluding applicable taxes.
The scope includes construction of the dam and development of a pressurised irrigation network, including survey, design, construction, operation and maintenance.
Mohmela Sirpur Barrage Project — Chhattisgarh
The project has an estimated value of approximately ₹568.98 crore.
The scope includes construction of the barrage, pipe irrigation network and five years of operation and maintenance.
The combined value of the two projects is approximately ₹1,051 crore.
The company stated that the letters of intent were expected soon, making these projects an important potential addition to the order book.
CAPEX Strategy: No Fixed FY27 Number Disclosed
One of the key points for investors is that Om Infra has not announced a specific FY27 CAPEX target in rupee terms.
Instead, management has indicated that the company expects to generate potential surplus funds through:
- Monetisation of non-core assets
- Arbitration award inflows
- Operating cash flows
Management believes these funds could provide a runway for CAPEX and working capital requirements over the next 3–5 years.
The company intends to use this financial flexibility to pursue larger opportunities, particularly in river linking, pumped storage, water and wastewater treatment and other infrastructure projects.
This suggests that the company’s CAPEX strategy is intended to support business expansion rather than simply increase fixed assets.
Potential ₹700+ Crore From Asset Monetisation and Arbitration
Another important element of the company’s financial outlook is its potential non-operating cash inflow.
Om Infra has indicated the possibility of ₹700 crore or more in inflows over the next few years from monetisation of non-core assets and arbitration awards.
However, investors should distinguish between potential claims/realisation and actual cash received.
Bhilwara-Jaipur Toll Road
The company has highlighted an arbitration award of approximately ₹587 crore related to the Bhilwara-Jaipur Toll Road.
The company states that 10% of the arbitration amount has already been received, while the matter remains subject to the ongoing legal process.
Gurha Thermal
Another arbitration award is approximately ₹53 crore.
The award was in favour of the company’s SPV, but the matter has been appealed before the Supreme Court.
Therefore, the timing and final realisation of these amounts remain uncertain.
Real Estate Assets Could Also Generate Cash
Om Infra is also looking at monetising non-core real estate assets.
The company has indicated potential cash inflows from projects including:
Pallacia Jaipur
The project has generated approximately ₹345 crore of collections, with ₹279 crore of revenue recognised and an estimated remaining realisable value of around ₹286 crore.
Om Green Meadows, Kota
The project has collected approximately ₹90 crore, with ₹63 crore of revenue recognised and an estimated remaining realisable value of around ₹23 crore.
The company has also highlighted its involvement in a Mumbai slum rehabilitation project, where development plans could potentially create significant value. The company stated that it does not presently envisage further investment in this project.
Strong Focus on Water Infrastructure
The company’s strategy remains closely aligned with India’s infrastructure spending.
Om Infra highlighted opportunities from:
- Jal Jeevan Mission
- AMRUT 2.0
- River linking and irrigation projects
- Eastern Rajasthan Canal Project
- Large dam and hydropower projects
- Pumped Storage Projects
- Water and wastewater treatment
The company believes its existing capabilities in hydro-mechanical equipment and turnkey water infrastructure position it to participate in these projects.
Jal Jeevan Mission Remains a Major Opportunity
JJM is already a significant component of Om Infra’s order book.
The company has approximately ₹1,346 crore of JJM-related orders, representing roughly two-thirds of its total outstanding order book.
Management expects continued opportunities, particularly in states such as Uttar Pradesh and Rajasthan, where additional water infrastructure spending is expected.
The company is positioning itself as an end-to-end water infrastructure provider, covering areas such as pipelines, water supply systems, irrigation networks, pumping systems and related infrastructure.
Pumped Storage Could Become a Long-Term Growth Driver
Om Infra is also increasing its focus on Pumped Storage Projects (PSPs).
The company is executing the Kundah Pumped Storage Project in Tamil Nadu, with a capacity of approximately 1,000 MW.
Management sees pumped storage as an important long-term opportunity because India’s increasing renewable energy capacity requires large-scale energy storage.
The company believes its hydro-mechanical expertise could allow it to participate in upcoming pumped storage and hydropower projects.
Hydro-Mechanical Business Provides a Niche Advantage
Om Infra has more than five decades of experience in hydro infrastructure and has executed more than 70 hydro-mechanical turnkey projects.
The company provides equipment and services including:
- Radial and vertical gates
- Stop-log gates
- Penstocks and liners
- Trash racks
- Cranes
- Mechanical and hydraulic hoists
- Installation and commissioning
- Repair and refurbishment
- Operation and maintenance
The company stated that it is currently involved in hydro-mechanical contracts covering more than 2,900 MW.
This niche capability could become increasingly important as India’s hydropower and pumped-storage project pipeline expands.
FY27 Financial Guidance
Management has provided the following guidance for FY27:
Revenue: ₹700–750 crore
EBITDA margin: 7–8%
Order inflow: ₹1,500 crore
The company is targeting growth primarily through new orders in hydro-mechanical, pumped storage, STP, and water infrastructure projects.
Q1 FY27 Performance Shows Recovery
Om Infra reported a significant improvement in profitability during Q1 FY27.
Consolidated revenue increased to approximately ₹124 crore, compared with ₹104 crore in Q1 FY26.
EBITDA improved to approximately ₹10 crore, compared with a loss of around ₹7 crore in the year-ago quarter.
PAT attributable to owners stood at approximately ₹12 crore, compared with a loss of around ₹1 crore in Q1 FY26.
The EBITDA margin improved to approximately 8%, compared with negative 1% in Q1 FY26.
However, quarterly performance can fluctuate depending on project execution and payment cycles.
Low Debt Provides Financial Flexibility
Om Infra reported a debt-to-equity ratio of approximately 0.13x in Q1 FY27.
The relatively low leverage gives the company some financial flexibility as it seeks to expand its order book.
The company’s strategy of potentially using monetisation proceeds and arbitration inflows to support future CAPEX and working capital could also reduce dependence on aggressive debt-funded expansion.
Management’s FY27 Outlook
The overall management commentary points toward an execution-led growth strategy.
The company wants to:
Build the order book → execute existing projects → win larger water and hydro projects → generate cash → monetise non-core assets → deploy capital into new growth opportunities.
Management is particularly optimistic about the opportunity created by India’s increased spending on:
- Water infrastructure
- Hydropower
- Pumped storage
- Irrigation
- River linking
- Wastewater treatment
The company also believes its established hydro-mechanical capabilities provide a competitive advantage when bidding for technically complex projects.
What Investors Should Watch
For investors tracking Om Infra, several factors could determine whether the company’s FY27 growth targets are achieved.
1. New order inflows
The company has set a ₹1,500 crore order inflow target. Actual order wins will be an important indicator of future growth.
2. Conversion of L1 projects
The two L1 projects worth approximately ₹1,051 crore could materially strengthen the order book if the company receives the expected LOIs.
3. Project execution
The company needs to convert its sizeable order book into revenue and cash flows while maintaining margins.
4. Receivables and government payments
Water infrastructure projects can have lengthy payment cycles. Management has indicated that payment conditions have been improving, but investors should continue monitoring receivables and working capital.
5. CAPEX deployment
Management has discussed a 3–5 year CAPEX runway but has not disclosed a fixed FY27 CAPEX amount. Investors should watch for future announcements regarding the size, timing, and nature of new investments.
6. Arbitration and asset monetisation
The potential ₹700+ crore of future inflows could strengthen the balance sheet, but the timing and actual realisation remain uncertain.
Points to consider
Om Infra enters FY27 with a ₹2,014.91 crore order book, a ₹1,500 crore order inflow target, and a pipeline of large water infrastructure opportunities.
The potential addition of the two L1 projects worth approximately ₹1,051 crore could provide another significant boost to its order book.
The company’s CAPEX strategy is also worth monitoring. Rather than announcing a specific FY27 CAPEX figure, management has indicated that potential proceeds from non-core asset monetisation and arbitration awards could provide a 3–5 year runway for CAPEX and working capital.
The bigger investment story is therefore not simply CAPEX. It is whether Om Infra can successfully convert its large order pipeline into sustainable revenue, cash flow and profitability, while maintaining a relatively conservative balance sheet.
With its exposure to water infrastructure, hydro-mechanical equipment and pumped storage, the company is attempting to position itself for India’s long-term infrastructure and energy-transition spending.