Brahmaputra Infrastructure Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Brahmaputra Infrastructure Ltd filed with BSE on 04 Jun 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Brahmaputra Infrastructure reported FY26 revenue of Rs 365 crore, up 50% year-on-year, with EBITDA of Rs 83.45 crore and PAT of Rs 59.61 crore, roughly double the prior year. Management attributed the growth to disciplined execution through the monsoon quarters and cited a closing order book of Rs 1,600 crore, equivalent to 4.46 times FY26 revenue. The company also discussed its EPC and real estate segments, a planned new retail-cum-residential project in Guwahati, and its bidding pipeline for the coming year.
Numbers mentioned
Revenue from operations: INR365 crores (FY26)
p. 6
“Revenue from operations this year is INR365 crores as compared to INR242 crores in FY25.”
Vivek Malhotra, page 6 of the filed PDF · View the filing
EBITDA: INR83.45 crores (FY26)
p. 6
“The EBITDA is INR83.45 crores comparatively INR48.53 crores last year.”
Vivek Malhotra, page 6 of the filed PDF · View the filing
EBITDA margin: 22.83% (FY26)
p. 6
“EBITDA margins are 22.83% versus 20.03% of last year.”
Vivek Malhotra, page 6 of the filed PDF · View the filing
Profit after tax: INR59.61 crores (FY26)
p. 6
“Profit after tax is INR59.61 crores comparatively INR29.89 crores last year.”
Vivek Malhotra, page 6 of the filed PDF · View the filing
PAT margin: 16.31% (FY26)
p. 6
“PAT margins are 16.31% comparatively 12.34% of the last year.”
Vivek Malhotra, page 6 of the filed PDF · View the filing
EPS: INR20.54 (FY26)
p. 6
“Our EPS of this year was 20.54 as comparatively 10.30 of last year.”
Vivek Malhotra, page 6 of the filed PDF · View the filing
Order book: INR1600 crores (as of FY26 end)
p. 7
“The company ended financial year 2026 with an order book of INR1600 crores, equivalent to 4.46x of our financial year 2026 revenue, providing strong visibility for sustained growth in the near to medium term.”
Vivek Malhotra, page 7 of the filed PDF · View the filing
Q4 revenue: INR93.93 crores (Q4 FY26)
p. 11
“INR93.93 crores is a top line, and our profit before taxes in this quarter is INR16.79 crores, and our PAT is INR14.78 crores.”
Vivek Malhotra, page 11 of the filed PDF · View the filing
Q4 EPS: INR5.09 (Q4 FY26)
p. 12
“So, our EPS in this quarter is INR5.09.”
Vivek Malhotra, page 12 of the filed PDF · View the filing
EPC segment revenue: INR349.81 crores (FY26)
p. 12
“Well, if you see the numbers in the segment reporting, approximately INR349.81 crores, I mean INR350 crores from the EPC segment top line and INR19.58 crores top line from the real estate segment.”
Vivek Malhotra, page 12 of the filed PDF · View the filing
Real estate segment profitability: INR16.70 crores (FY26)
p. 12
“And if you see the profitability, INR51.88 crores into the EPC division and the real estate division is INR16.70 crores as comparatively to the last year is INR14.75 crores.”
Vivek Malhotra, page 12 of the filed PDF · View the filing
Current bidding pipeline: INR3000 crores
p. 11
“Currently, we have a bidding pipeline of about INR3000 crores, for which we're expecting the results to come in the next about 30 to 45 days.”
Umang Prithani, page 11 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Order book execution in FY27 — 60% of balance order book · FY27
stated firmly by Umang Prithani
p. 8
“So, approximately we have a balance order book of INR1600 crores, out of which we expect in the coming year, 60% approximately of this balance order book should be executed in the coming year.”
Umang Prithani, page 8 of the filed PDF · View the filing
Real estate rental income — INR60 crores · FY30
stated as an aspiration by Umang Prithani
p. 9
“So, over the next five years, we are in line to achieve the number that you have mentioned in this new shopping destination.”
Umang Prithani, page 9 of the filed PDF · View the filing
New retail/residential project value — INR500 crores · next four to five years
stated conditionally by Umang Prithani
p. 9
“And this project will be built phase-wise with the approx. total value accumulated to about INR500 crores in the next four to five years, phase-wise.”
Umang Prithani, page 9 of the filed PDF · View the filing
Revenue growth rate — 50% growth rate · next two to three years
stated as an aspiration by Umang Prithani
p. 12
“So, our target is to maintain the same growth percentage and ensure that we are able to maintain the same rate of profitability as well.”
Umang Prithani, page 12 of the filed PDF · View the filing
Growth momentum — next five years
stated as an aspiration by Umang Prithani
p. 13
“Our effort is and intention and expectation is for the next five years, given the current scale we are in, for the next five years, we hope that we will maintain the same kind of momentum.”
Umang Prithani, page 13 of the filed PDF · View the filing
Bidding pipeline for the year — INR7000 crores to INR8000 crores · coming year
stated as an aspiration by Umang Prithani
p. 11
“And in the coming year as a whole, I can say, we will have about INR7000 crores to INR8000 crores in the bidding pipeline, in the entire year.”
Umang Prithani, page 11 of the filed PDF · View the filing
Promoter pledge release — next year or two
stated as an aspiration by Vivek Malhotra
p. 8
“We are working on that, and we hope so in next year or two, we get released all the pledge because earlier there was a higher debt in the company.”
Vivek Malhotra, page 8 of the filed PDF · View the filing
New retail project launch — next four to five months
stated conditionally by Umang Prithani
p. 14
“So, maybe in the next four to five months, we will launch the project.”
Umang Prithani, page 14 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said about 60% of the balance order book would be executed in the coming year with 40% spilling over, and confirmed none of the road projects are on a HAM model.
Answered by Umang Prithani
Asked by Urmish Shah: How much of the order book is executable in FY27 versus spilling into FY28, and are road projects on a HAM model?
p. 8
“No, these are all EPC. EPC or item rate. None of the road projects are on a HAM model.”
Umang Prithani, page 8 of the filed PDF · View the filing
Management explained the pledge dates back to 2014 and they are working with lenders to release it as debt has reduced.
Answered by Vivek Malhotra
Asked by Urmish Shah: Why is the promoter pledge high despite improving debt levels?
p. 8
“Well, the shares have been pledged in 2014, and in the regular consortium meetings, we have a word with our lenders to release the same.”
Vivek Malhotra, page 8 of the filed PDF · View the filing
Management cited vendor relationships and demand ecosystem understanding built through the existing mall, and described a new phase-wise plaza project.
Answered by Umang Prithani
Asked by Himanshu Bisani: What competitive edge does the company have in real estate and how will it scale rental income by FY29/FY30?
p. 9
“So, naturally, the relationships with vendors we have, the trust that the vendors and the brands have, if they want to enter Northeast, they have historically enjoyed the association with us.”
Umang Prithani, page 9 of the filed PDF · View the filing
Management explained new EPC orders require design and coordination time before revenue recognition begins.
Answered by Umang Prithani
Asked by Bhavin Shah: Why isn't the large order book reflected in Q4 revenue?
p. 10
“So, it takes about six to seven months for the revenue recognition to come from the new orders.”
Umang Prithani, page 10 of the filed PDF · View the filing
Management gave the pipeline size and a rough breakdown by project type.
Answered by Umang Prithani
Asked by Aniket Redkar: What is the current bid pipeline and its composition?
p. 11
“But you can say that about 40% of the works would be building-related works, 20% would be protection-related works, and then 40% would be road works.”
Umang Prithani, page 11 of the filed PDF · View the filing
Management attributed the drop to one-off industrial plot sales in the prior year that did not recur, while profitability actually improved.
Answered by Vivek Malhotra
Asked by Nimish Pandya: Why did the real estate segment show softer top-line performance in FY26?
p. 12
“But the difference, drop down, the reason of the drop down of the top line in the real estate, last year we sold some industrial plots and in this year we do not sell any sort of industrial plots.”
Vivek Malhotra, page 12 of the filed PDF · View the filing
Management described FY26 as an inflection point that built a foundation for continued growth.
Answered by Umang Prithani
Asked by Rohit Mehra: Is the FY26 growth a one-off or the start of a multi-year cycle?
p. 13
“So, we see this as a foundation for a much better growth in geographical footprint, revenues, in overall growth.”
Umang Prithani, page 13 of the filed PDF · View the filing
Management described using surety bonds, bank guarantees and joint venture partnerships to fund growth instead of relying solely on debt.
Answered by Umang Prithani
Asked by Rohit Mehra: What is the capital allocation and debt reduction plan to support growth?
p. 14
“So, surety bonds, bank guarantees, and strategic partnerships through joint ventures.”
Umang Prithani, page 14 of the filed PDF · View the filing
Management said the split varies by project but roughly 70% of order book revenue accrues to BIL.
Answered by Umang Prithani
Asked by Bhavin Shah: How is revenue from joint venture projects split between BIL and partners?
p. 15
“So, approximately you could say 70% of the order book revenues will come into BIL and the 30% will go into our joint venture partners.”
Umang Prithani, page 15 of the filed PDF · View the filing
Risks flagged
Monsoon-related site disruption historically affecting Q2 and Q3 execution
p. 6
“Historically, the July to September period has constrained Q2 and Q3 performance due to heavy rainfall, challenging site conditions.”
Vivek Malhotra, page 6 of the filed PDF · View the filing
Prior year resource under-utilization and near-nil margins during monsoon quarters
p. 7
“In financial 2025, the adverse monsoon conditions had resulted in a considerable resources under-utilization and nearly nil margins in Q2 and Q3.”
Vivek Malhotra, page 7 of the filed PDF · View the filing
High promoter share pledge from a 2014 debt position
p. 8
“We are working on that, and we hope so in next year or two, we get released all the pledge because earlier there was a higher debt in the company.”
Vivek Malhotra, page 8 of the filed PDF · View the filing
Time lag between order receipt and revenue recognition due to design and coordination requirements
p. 10
“EPC requires us to do the designing part as well of these works.”
Umang Prithani, page 10 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.