Hazoor Multi Projects Limited reported a mixed financial performance for the first quarter of FY27, with top-line growth offset by a sharp contraction in standalone net profit. The Mumbai-based infrastructure firm saw standalone revenue rise 4.6% year-on-year (YoY) to ₹10,367.04 crore, up from ₹9,916.22 crore in Q1FY26. However, standalone net profit after tax fell 59% to ₹460.03 crore, compared to ₹1,123.55 crore in the corresponding period last year.

On a consolidated basis, revenue grew more robustly at 10.8% YoY to reach ₹11,966.38 crore, up from ₹10,798.98 crore in Q1FY26. Consolidated net profit, however, contracted significantly by 99% to ₹210.33 crore, down from ₹21,033.00 crore reported in the prior year’s quarter. This drastic decline in consolidated bottom-line figures suggests a material divergence between standalone and group-level profitability drivers during the period.

The company published its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, in Financial Express and Mumbai Lakshadeep on August 15, 2026. The disclosure was made pursuant to Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Highlights

Radheshyam Laxmanrao Mopalwar, Managing Director of Hazoor Multi Projects, signed off on the results. The company’s registered office is located in Nariman Point, Mumbai.

Hazoor Multi Projects reported a significant contraction in profitability for the first quarter of FY26, with standalone net profit falling to ₹344.25 lakh compared to ₹840.77 lakh in Q1FY25. The company’s board approved the unaudited financial results on August 13, 2026, revealing that while operational revenue expanded, margin pressure from elevated depreciation and finance costs weighed heavily on the bottom line.

Financial Performance

Standalone revenue from operations rose to ₹10,367.04 lakh in Q1FY26, up from ₹9,916.22 lakh in the corresponding period of FY25. However, total expenses increased more sharply to ₹10,365.99 lakh from ₹8,887.43 lakh. The most notable expense driver was depreciation, amortisation, and depletion, which surged to ₹8,942.13 lakh from just ₹5.12 lakh in Q1FY25. This massive increase in non-cash charges compressed the profit before tax to ₹460.03 lakh, down from ₹1,123.55 lakh.

Consolidated figures showed a similar trend. Group revenue from operations grew to ₹11,966.38 lakh from ₹18,001.83 lakh in Q1FY25, though this comparison is impacted by the inclusion of subsidiaries acquired during FY25. Consolidated net profit after tax and share of associates dropped sharply to ₹29.98 lakh from ₹1,378.77 lakh in the prior year quarter.

What the Numbers Show

The divergence between revenue growth and profit decline highlights a structural shift in cost composition. While operating expenses like sub-contracting charges decreased significantly (from ₹3,355.72 lakh to ₹500.89 lakh standalone), this efficiency gain was entirely offset by a near-vertical rise in depreciation expenses. The standalone interest service coverage ratio fell to 4.74 from 12.09 in Q1FY25, indicating reduced cushion for debt servicing relative to earnings before interest and taxes. Similarly, the consolidated debt-equity ratio stood at 0.64, up from 0.55 in the previous quarter, reflecting increased leverage or reduced equity base.

Corporate Actions

In addition to approving the financial results, the board decided to forfeit 14,459 partly paid-up equity shares on which call money remained unpaid since March 2023. These shares were part of a rights issue allotment, and despite multiple notices, the outstanding call money was not received within the stipulated timeline. The forfeiture aligns with the provisions of the Companies Act, 2013, and the company’s Articles of Association.

The trading window for insiders will reopen 48 hours after the announcement of these results. The unaudited financial statements were reviewed by VMRS & Co., the statutory auditors, under Regulation 33 of the SEBI LODR Regulations.