Garuda Construction & Engineering Limited has reported a robust financial performance for the first half of fiscal year 2026, with revenue matching its entire FY25 figures. The company's strategic focus on high-margin projects and its debt-free status have contributed to its strong showing in a challenging market environment.

Financial Highlights

• Revenue: Rs 241.60 crores for H1 FY26, equaling the full-year revenue of FY25
• Profit After Tax (PAT): Rs 55.10 crores
• PAT Margin: 22.80%
• Order Book: Rs 3,461.00 crores as of October 27, 2025

Strong Order Book and Project Diversity

Garuda Construction maintains a substantial order book of Rs 3,461.00 crores, providing visibility for the next three years. This robust pipeline underscores the company's strong market position and ability to secure quality projects. The company's operations span multiple states, including Maharashtra, Delhi, Rajasthan, Punjab, Karnataka, Tamil Nadu, and Arunachal Pradesh, demonstrating its geographical diversification.

Currently, Garuda Construction is executing 16 ongoing projects across various segments:

• Residential
• Commercial
• Industrial
• Infrastructure

This diverse project portfolio helps mitigate risks associated with sector-specific downturns and enhances the company's resilience in the face of market fluctuations.

New Order Wins and Operational Challenges

Despite challenging monsoon conditions that impacted on-ground progress, Garuda Construction secured fresh orders worth Rs 353.00 crores during the quarter. This achievement highlights the company's strong business development capabilities and its ability to win contracts even in difficult operating environments.

Financial Strategy and Market Position

Garuda Construction's focus on high-margin, niche projects, coupled with its strategy of avoiding contracts that could dilute margins, has contributed to its impressive profitability. The company's debt-free status further strengthens its financial position, providing flexibility and reducing financial risk.

Outlook

With a strong order book providing visibility for the next three years and a focus on profitable projects, Garuda Construction appears well-positioned for continued growth. The company's ability to match its entire FY25 revenue in just the first half of FY26 indicates a positive growth trajectory, subject to timely execution of its order book and favorable market conditions.

Investors and market observers will likely keep a close watch on Garuda Construction's ability to maintain its margin profile and order book growth in the coming quarters, especially given the challenging macroeconomic environment and potential headwinds in the construction sector.

Garuda Construction & Engineering Limited (GCEL) has announced its financial results for the second quarter, showcasing substantial growth across key financial metrics.

Financial Highlights

The company reported a significant increase in its net profit, which rose to ₹271.00 crore in Q2, marking a 165% jump from ₹102.00 crore in the same period last year. This impressive growth underscores the company's strong operational performance and effective cost management strategies.

GCEL's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also saw a remarkable uptick, reaching ₹344.00 crore compared to ₹134.00 crore in the corresponding quarter of the previous year, representing a 157% increase. This substantial rise in EBITDA indicates improved operational efficiency and stronger core business performance.

The company's EBITDA margin improved to 29.55% from 28.70% year-over-year, reflecting enhanced profitability and operational excellence.

Revenue and Operational Performance

Garuda Construction reported a total income of ₹11,843.55 crore, showcasing the company's robust revenue generation capabilities. The revenue from operations stood at ₹11,649.16 crore, indicating strong business activity during the quarter.

Key Financial Metrics

Balance Sheet Strength

As of the end of the quarter, Garuda Construction reported total assets of ₹57,413.67 crore, with a strong equity base of ₹38,744.49 crore. The company's financial position appears robust, providing a solid foundation for future growth and expansion.

Conclusion

Garuda Construction & Engineering Limited's Q2 results demonstrate strong financial performance, with significant improvements in profitability and operational efficiency. The substantial growth in net profit and EBITDA, coupled with an improved EBITDA margin, indicates the company's ability to execute its business strategies effectively in a competitive market environment.

Investors and stakeholders may view these results positively, as they reflect the company's potential for sustained growth and value creation in the construction and engineering sector.