Hazoor Multi Projects has secured a confirmed order valued at ₹207.44 crore from Emerald Haven Life Spaces 3 Private Limited (EHLS3PL). The contract covers RCC Core & Shell works for the "PTR Phase 2" residential project located in Pallavaram, Chengalpattu, Chennai.

What happened

The company received the order on September 18, 2026. The execution timeline is set at 30 months from the handover of the site, with an expected handover date in November 2026. This award represents a shift towards domestic private sector infrastructure, distinct from the company's recent series of user fee collection agency contracts with the National Highways Authority of India (NHAI).

Order in financial context

The ₹207.44 crore order value is substantial relative to the company's average quarterly revenue of ₹132.97 crore over the last four quarters. Combined with previously disclosed orders, the total disclosed order book over the last three fiscal quarters stands at ₹317.11 crore across five orders reported in Q2FY27. The nature of this contract involves core construction works rather than fee collection services.

Company order track record

Hazoor Multi Projects has disclosed multiple orders in exchange filings over the last three fiscal quarters. While recent history highlights consistent flow from NHAI, this latest award introduces a major domestic private entity to the client mix.

Q2FY27 (Jul-Sep 2026):

• Total order inflow: ₹317.11 crore
• Order count: 5
• Key awarding entities: National Highways Authority of India (NHAI)

Note: The new September 18 order is dated within the same quarter but was disclosed separately after the initial quarterly summary computation.

Quarterly financial performance

Recent quarterly financials show a marked improvement in profitability. The following table summarises performance across the last three reported quarters.

The turnaround from a net loss of ₹9.90 crore in Q2FY26 to a net profit of ₹32.40 crore in Q4FY26 indicates successful execution or favourable mix shifts in recent periods. The volatility between quarters highlights the importance of consistent order flow to sustain these margins.

Revenue growth and annual performance

Annual revenue declined from ₹643.70 crore in FY25 to ₹579.58 crore in FY26, representing a YoY change of -10.0% based on the latest annual data. Despite the revenue dip, net profit grew 6.5% to ₹42.62 crore, compared to ₹40.00 crore in the prior year, reflecting improved cost management or margin quality.

Working capital and execution capacity

The company's balance sheet demonstrates strong liquidity with a current ratio of 2.23x, indicating ample short-term assets to cover liabilities. Total Liabilities/Equity stands at 1.70x, suggesting a moderate leverage position without excessive debt burden. However, operating cashflow has been negative in recent years, recording -₹145.20 crore in FY25 and -₹123.00 crore in FY24. This divergence between accounting profits and cash generation warrants close monitoring, as it may indicate stretched working capital cycles or delayed receivables collection despite healthy topline figures.

Hazoor Multi Projects has secured a work order worth ₹207.44 crore from Emerald Haven Life Spaces for RCC core and shell work at the PTR Phase 2 residential project.

Order details

The following table summarises the key details of the work order:

The order pertains to reinforced cement concrete core and shell construction at the PTR Phase 2 residential development, awarded by Emerald Haven Life Spaces to Hazoor Multi Projects.