Garuda Construction & Engineering will hold its 16th Annual General Meeting on September 30, 2026, via video conferencing. Shareholders will approve significant corporate governance matters, including related party transactions valued at up to ₹530 crore.

The meeting agenda includes the adoption of financial statements for FY26 and the re-appointment of Mr. Rohit Ramanand Pareek as Whole Time Director and Chief Financial Officer. Remote e-voting opens on September 27, 2026, at 9:00 am and closes on September 29, 2026, at 5:00 pm.

Key Agenda Items

Related Party Transactions

The Board seeks authorization for agreements with entities where Key Managerial Personnel exercise influential control, valid from April 1, 2027, to March 31, 2028. These transactions aim to ensure stability in supplies and project-related assignments.

Appointment of Secretarial Auditors

The company proposes appointing M/s Ketan Vyas & Company as Secretarial Auditors for five years starting FY27. The proposed remuneration is ₹60,000 plus applicable taxes for the first year.

Financial Performance FY26

Garuda Construction reported strong growth in FY26, with revenue from operations rising to ₹53,071.52 lakh from ₹22,503.01 lakh in FY25. Net profit surged to ₹12,254.11 lakh, compared to ₹4,980.48 lakh in the previous year.

What the Numbers Show

The proposed related party transactions reveal a significant concentration of future operational exposure with entities linked to Key Managerial Personnel. With ₹430 crore allocated for sales and purchase of goods against just ₹100 crore for working capital investment, the majority of the approved value supports immediate trading activities rather than long-term equity stakes in these associated enterprises.

Garuda Construction & Engineering reported a 48% year-on-year increase in standalone net profit to ₹4,155.53 lakh for the quarter ended June 30, 2026 (Q1FY27), driven by a robust 40% surge in revenue from operations to ₹17,538.17 lakh. The Mumbai-based construction firm’s consolidated net profit stood at ₹4,154.48 lakh for the same period. The results were approved by the Board of Directors, chaired by Managing Director and Chairman Pravin Kumar Brijendra Kumar Agarwal, on August 10, 2026.

The company’s total income for the quarter reached ₹17,562.90 lakh, up from ₹12,668.00 lakh in Q1FY26. Earnings per share (EPS) rose to ₹4.47 from ₹3.01 in the corresponding period last year. The unaudited financial results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditor, A.T.R.S. & Co., pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Highlights

The company demonstrated significant top-line growth, with revenue from operations expanding substantially compared to the prior year period. The following table summarises the key standalone and consolidated financial metrics:

What the Numbers Show

The primary driver of the profit growth was the significant expansion in revenue from operations, which jumped from ₹12,515.65 lakh in Q1FY26 to ₹17,538.17 lakh in Q1FY27. This 40% revenue growth outpaced the increase in expenses, leading to a 48% rise in net profit. Total expenses rose to ₹11,985.60 lakh from ₹8,925.80 lakh in the prior year, primarily due to higher construction expenses of ₹9,875.03 lakh compared to ₹6,012.50 lakh previously. The consolidated figures mirrored the standalone performance closely, indicating that the subsidiaries contributed minimally to the overall variance.

Consolidated Results and Subsidiaries

The group includes three subsidiaries: PKH Projects LLP, PKH Ayodhya Private Limited, and UP World Trade Centre Private Limited. The consolidated net profit of ₹4,154.48 lakh reflects the combined performance of these entities. The financial statements were prepared in accordance with Ind AS 34 and the Companies Act, 2013. The company disclosed that balances under Trade Payable, Loans and Advances, and Other Current Liabilities are subject to confirmation and reconciliation, with any adjustments to be accounted for in the year of confirmation. The statutory auditor noted that they did not independently review the interim results of the subsidiaries, relying instead on the reports of other auditors for these entities, which reported nil revenue and a net loss of ₹2.16 lakh for the quarter.