GHV Infra Projects reported a standalone net profit of ₹112.55 lakh for the quarter ended June 30, 2026, marking a 43% decline from ₹198.38 lakh in the same period of FY25. Despite the drop in profitability, revenue from operations expanded significantly by 172% year-on-year to ₹2,185.99 lakh, up from ₹804.60 lakh in Q1FY25. The divergence highlights margin compression as the company scales operations, with costs rising faster than top-line growth. This performance matters to investors as it signals aggressive business expansion at the cost of immediate earnings quality.

The Board of Directors approved these unaudited financial results on August 10, 2026, alongside the appointment of three new Non-Executive Independent Directors. Statutory Auditors Manubhai & Shah LLP issued a limited review report on the standalone and consolidated financial statements pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were prepared in compliance with Ind AS 34 "Interim Financial Reporting".

Key Financial Metrics

Total income for the quarter stood at ₹2,188.83 lakh, driven primarily by the surge in operational revenue. Total expenses increased to ₹2,033.55 lakh from ₹741.49 lakh in the prior year period, reflecting higher sub-contracting charges and cost of materials consumed associated with increased project activity.

Consolidated Performance

On the consolidated front, net profit attributable to owners of the company was ₹73.64 lakh, compared to ₹490.18 lakh in FY25. Consolidated revenue from operations was ₹2,185.99 lakh. The Group’s share in loss after tax from joint ventures amounted to ₹16.71 lakh. One subsidiary, GHV Infra Inc., and one joint venture, GHV Infra Projects-BIL, have not commenced operations and thus had no financial impact.

Board Appointments

The Board appointed three additional directors designated as Non-Executive Independent Directors for a term of five years, effective August 10, 2026, subject to shareholder approval at the ensuing Annual General Meeting:

• Swarup Dasgupta: A seasoned banking professional with over four decades of experience, currently serving as Advisor – Corporate Credit with Punjab & Sind Bank.
• Manoj Aggarwal: A retired Indian Administrative Service (IAS) Officer of the Gujarat Cadre, 1990 Batch, with extensive experience in public administration and infrastructure development.
• Dhanraj Onduji Tawade: A civil engineering professional with 37 years of experience in the Government of India, retired as Member (Technical) from the National Highways Authority of India (NHAI).

What the Numbers Show

The divergence between revenue growth and net profit decline highlights margin compression during this phase of operational scaling. While revenue more than doubled year-on-year, costs rose at a steeper pace, particularly in sub-contracting charges which jumped from ₹490.53 lakh to ₹1,269.79 lakh. This suggests that the current revenue expansion is heavily reliant on outsourced execution, impacting immediate profitability despite higher top-line figures.

GHV Infra Projects has reported a marked improvement across key financial metrics in Q1, with net profit, revenue, and operating profitability all registering strong year-on-year growth. The results highlight a significant scale-up in business activity compared to the corresponding period of the previous year.

Q1 Financial Performance at a Glance

The company's net profit for Q1 stood at 113M rupees, more than doubling from 47M rupees recorded in the same quarter last year. Revenue witnessed a substantial jump to 2.2B rupees from 805M rupees year-on-year, indicating a considerable expansion in the company's operational scale during the period.

EBITDA and Margin Expansion

Operating performance also improved meaningfully, with EBITDA rising to 278M rupees in Q1 from 83M rupees in the year-ago period. The EBITDA margin expanded to 12.71% from 10.36% year-on-year, reflecting improved operational efficiency alongside the revenue growth.

The following table summarises the key financial metrics for Q1 on a year-on-year basis:

Key Highlights

• Net profit more than doubled year-on-year, rising from 47M rupees to 113M rupees
• Revenue surged from 805M rupees to 2.2B rupees on a year-on-year basis
• EBITDA jumped from 83M rupees to 278M rupees year-on-year
• EBITDA margin expanded by approximately 235 basis points, from 10.36% to 12.71% year-on-year

The Q1 results reflect a broad-based improvement in GHV Infra Projects' financial performance, with revenue growth accompanied by margin expansion, underscoring stronger operating leverage during the quarter.