J Kumar Infraprojects Limited reported a challenging third quarter for FY26, with revenue declining 12% year-on-year due to operational disruptions caused by extended monsoon season and project execution delays. The infrastructure company's performance reflected temporary setbacks while maintaining stable margins and a robust order book position.

Q3 FY26 Financial Performance

The company's quarterly results showed moderation across key metrics compared to the corresponding previous period:

Managing Director Nalin Gupta attributed the decline primarily to extended monsoon season leading to temporary disruption at multiple project sites, slower execution progress, and deferment of billing linked to milestone achievements.

Nine-Month FY26 Consolidated Results

Despite quarterly challenges, the nine-month performance showed resilience with modest growth:

The company maintained stable profitability margins throughout the period, demonstrating operational resilience despite execution challenges.

Project Execution Challenges and Recovery

Several key projects faced delays due to regulatory approvals and land acquisition issues. The GMLR project experienced delays in shaft construction due to eco-sensitive zone approvals, while the VDCR project faced design revision requirements from third-party IIT approvals. However, management indicated that most operational issues have been resolved, with GMLR project now progressing with tunnel boring machine installation.

Financial Position and Order Book

The company maintained a strong balance sheet position:

The order book composition includes Metro projects contributing 11%, elevated corridors/flyovers at 53%, roads and road tunnels at 17%, and other projects at 18%.

Outlook and Guidance

For FY26, the company revised its revenue guidance to maintain or surpass the previous year's topline of approximately INR5,700 crores. Management expressed confidence in achieving 15% revenue growth for FY27, supported by improved project execution and expected order inflows of INR7,000-INR8,000 crores. The company expects to secure orders worth INR4,000 crores by March 2026, with several large infrastructure projects in the pipeline across Maharashtra and pan-India markets.

J Kumar Infraprojects Limited has announced its unaudited standalone and consolidated financial results for the quarter ended December 31, 2025. The company's Board of Directors approved these results during their meeting held on February 5, 2026, which commenced at 12:30 PM and concluded at 2:00 PM.

Q3FY26 Standalone Financial Performance

The company delivered solid operational performance during the third quarter:

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, the company showed resilient performance:

Consolidated Results Overview

The consolidated financial results, including subsidiaries and joint operations, reflected similar trends:

Exceptional Items Impact

The company reported exceptional items of ₹1,236.61 lakhs during Q3FY26, primarily related to the statutory impact of new Labour Codes. This was attributed to the Government of India's notification of four Labour Codes on November 21, 2025, consolidating 29 existing labour laws.

Regulatory Compliance and Audit

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors. Todi Tulsyan & Co., Chartered Accountants, completed the limited review as required under Regulation 33 of SEBI LODR Regulations, 2015. The results include interim financial information of 26 Joint Operations consolidated on a proportionate basis.

Corporate Structure

The consolidated results encompass the holding company J Kumar Infraprojects Limited, its subsidiaries Odette Engineers Private Limited and Pranav Construction System Private Limited, and its associate J Kumar – NCC Private Limited, along with 26 joint operations across various infrastructure projects.