GR Infraprojects Limited has announced that its wholly owned subsidiary, GR Amritsar Bathinda Highway Private Limited, has received a Provisional Completion Certificate for a key highway development project in Punjab. The certificate was issued by the Independent Engineer on 13th May 2026, and the project has been declared fit for entry into commercial operation with effect from 1st March 2026. The disclosure was made in accordance with the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Project Overview

The project involves the development of a 6-lane Amritsar-Bathinda Greenfield section of NH-754A, stretching from village Tiba on NE-5A to the junction with Moga Jalandhar road (NH-703) near Dharamkot, covering a stretch from km 0+000 to km 39+000. It forms part of the Amritsar-Jamnagar Economic Corridor in the state of Punjab and has been executed under the Hybrid Annuity Mode as part of Bharatmala Pariyojana Phase-I (Package-1).

Key Project Details

The following table summarises the key parameters of the completed project:

Significance of the Development

The Provisional Completion Certificate marks a significant milestone for GR Infraprojects, confirming that the project has met the requisite standards for commercial operation. The project is part of the Government of India's Bharatmala Pariyojana Phase-I, a flagship national highway development programme aimed at improving connectivity across key economic corridors. The Amritsar-Jamnagar Economic Corridor, of which this section forms a part, is designed to enhance freight and passenger movement across northwestern India.

The disclosure was signed by Sudhir Mutha, Company Secretary of GR Infraprojects Limited, and submitted to both BSE Limited and the National Stock Exchange of India Limited on 13th May 2026.

G R Infraprojects Limited held its Board of Directors meeting on May 11, 2026, approving the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The statutory auditors, S R B C & CO LLP, issued an audit report with an unmodified opinion. Pursuant to Regulation 30 and Regulation 47 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, the company published an extract of the audited results in the Financial Express English edition and Financial Express Gujarati edition on May 12, 2026. Additionally, pursuant to Regulation 30 and 46(2)(oa) of the SEBI Listing Regulations, the audio recording of the Earnings Conference Call held on May 12, 2026, has been made available on the company's website.

Standalone Financial Highlights

The standalone financial results for the year ended March 31, 2026 show a revenue from operations of ₹7,62,021.73 lakhs, compared to ₹6,31,556.78 lakhs in the previous year. Profit after tax for the year stood at ₹99,605.62 lakhs, an increase from ₹80,660.69 lakhs in FY25. The net profit margin for the year improved to 13.07% from 12.38% in the prior year. The following table summarises the key standalone financial metrics:

The standalone balance sheet as of March 31, 2026 reflects total assets of ₹10,97,441.25 lakhs. Total debt stood at ₹3,153.25 million, while cash and bank balances were ₹6,670.20 million. Current investments stood at Rs. 2,487.76 million.

Consolidated Financial Highlights

On a consolidated basis, revenue from operations for FY26 was ₹8,39,861.89 lakhs, up from ₹7,39,470.41 lakhs in FY25. Profit after tax for the year was ₹90,257.81 lakhs, compared to ₹1,01,539.53 lakhs in the previous year. The company reported a basic EPS of ₹93.31 for FY26. The table below presents the key consolidated financial metrics:

Total consolidated debt as of March 31, 2026 stood at Rs. 49,219.07 million, comprising project loans of Rs. 46,109.57 million and standalone debt of Rs. 3,109.50 million. Consolidated cash and bank balances stood at Rs. 12,120.86 million, with current investments of Rs. 3,243.29 million.

Key Financial Ratios

The table below presents selected key financial ratios for the year ended March 31, 2026, as published in the audited results extract:

Order Book and Operational Strength

The company's order book as on March 31, 2026 stood at Rs. 2,64,715 million. The project portfolio includes Highways (HAM), BOOT transmission projects, and a DBFOT logistics project. The company had 8 operational road and transmission projects and transferred three projects — Ena-Kim, Bilaspur-Urga, and Ujjain-Badnawar — to Indus Infra Trust during the quarter. In total, the company has transferred 13 operational HAM assets to Indus Infra Trust. G R Infraprojects holds credit ratings of CARE AA+ (Stable) and CRISIL AA (Stable).

Projects currently under construction span multiple segments, as detailed below:

Operational Capabilities

G R Infraprojects operates as an integrated EPC company with a workforce of 9,982 highly skilled employees and a fleet of over 7,000 machines and equipment as on March 31, 2026. The company's backward integration includes manufacturing facilities for key components such as metal crash barriers, OHE masts, galvanization (capacity: 24,000 MT, Ahmedabad), and PMB, emulsion, and road signages (capacity: 30,000 MT, Udaipur). The company is certified under ISO 45001, ISO 14001, ISO 27001, and ISO 9001 standards. Its business verticals span highways, tunnelling, hydro, logistics infrastructure, ropeways, railways and metro, telecom and IT infrastructure, manufacturing, and BESS solutions.

Board Decisions and Corporate Governance

The Board approved the appointment of Mr. Ajendra Kumar Agarwal as Chairman and Mr. Ashwin Agarwal as Whole Time Director for 5 years, both effective from May 11, 2026, subject to shareholder approval at the ensuing Annual General Meeting. Mr. Ashwin Agarwal holds a Bachelor of Science (BSc) degree and an Economics Honours degree from Penn State University, with expertise in business operations, project management, and strategic planning. Mr. Rajan Malhotra was recommended for re-appointment as Independent Director for a second term of 5 consecutive years commencing from May 27, 2027 up to May 26, 2032, subject to shareholder approval. Mr. Desh Raj Dogra completed his two terms as an Independent Director and ceased to be a Director from the close of business hours on May 11, 2026. The Board also appointed M/s Rajendra Singh Bhati & Co. as Cost Auditors for FY2026-27 at a remuneration of Rs. 1,25,000/-.