Ahluwalia Contracts (India) Limited has secured a major construction order worth ₹888.38 crores from Bihar State Tourism Development Corporation Limited for the development of Shri Ram Janmabhoomi Tirtha Kshetra in Ayodhya. The project, located at Punauradham in Sitamarhi District, Bihar, is identified as the birthplace of Mother Sita, highlighting its religious and cultural significance.

Project Details and Scope

The awarded contract encompasses construction and overall development work of the Shri Ram Janmabhoomi Tirtha Kshetra in Ayodhya. The comprehensive project details are outlined below:

Contract Structure and Timeline

The order has been structured under the EPC (Engineering, Procurement, and Construction) mode, indicating Ahluwalia Contracts will handle the complete project lifecycle from design to completion. The company has been allocated 42 months for project execution, providing a substantial timeframe for the comprehensive development work required at this culturally significant site.

Regulatory Compliance and Disclosures

The company has confirmed that the contract does not involve any related party transactions and operates at arm's length. Additionally, the promoter, promoter group, or group companies have no interest in Bihar State Tourism Development Corporation Limited, ensuring transparency in the award process.

Strategic Significance

This order reinforces Ahluwalia Contracts' position in the infrastructure and construction sector, particularly in projects of religious and cultural importance. The substantial contract value of ₹888.38 crores represents a significant business win for the company and demonstrates its capability to handle large-scale development projects of national significance.

The disclosure was made in compliance with Clause 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency for stakeholders and investors regarding this material development.

Ahluwalia Contracts (India) Limited has announced impressive financial results for the second quarter of fiscal year 2026, showcasing substantial growth in both revenue and profitability.

Financial Highlights

The company reported a turnover of Rs. 1,177.30 crores in Q2FY26, marking a 16.39% increase from Rs. 1,011.48 crores in Q2FY25. More notably, the Profit After Tax (PAT) surged by 106.07% to Rs. 79.45 crores, compared to Rs. 38.36 crores in the same quarter last year.

Improved Margins

Ahluwalia Contracts demonstrated significant improvement in its operational efficiency:

The substantial increase in EBITDA margin indicates enhanced operational performance and cost management.

Earnings Per Share

The company's Earnings Per Share (EPS) for Q2FY26 stood at Rs. 11.80, more than doubling from Rs. 5.73 in Q2FY25, reflecting the strong bottom-line growth.

Half-Yearly Performance

For the first half of FY26 (H1FY26), Ahluwalia Contracts reported:

• Turnover: Rs. 2,182.18 crores (up from Rs. 1,930.83 crores in H1FY25)
• PAT: Rs. 130.16 crores (increased from Rs. 68.96 crores in H1FY25)
• EPS: Rs. 19.43 (compared to Rs. 10.29 in H1FY25)

Order Book and Future Outlook

As of September 30, 2025, the company maintains a robust net order book of Rs. 18,057.60 crores, to be executed over the next 2.5 years. The total order inflow during FY26 stands at Rs. 4,521.06 crores, with the company being L1 (lowest bidder) in two projects aggregating Rs. 1,620 crores.

Management Commentary

During the earnings conference call, Mr. Shobhit Uppal, Deputy Managing Director, expressed confidence in the company's growth trajectory. He highlighted the company's strategic focus on high-value projects and improved operational efficiencies.

Sector-wise Performance

The company has a diversified presence across various sectors, with a significant portion of its order book coming from residential projects. Notable clients include DLF, Signature Global, and other reputable developers, indicating a strong foothold in the real estate sector.

Challenges and Mitigation Strategies

While labor shortages remain a persistent challenge in the construction industry, Ahluwalia Contracts is addressing this through increased mechanization and investment in advanced equipment. The company is also focusing on skill development and training programs to enhance workforce productivity.

Conclusion

Ahluwalia Contracts' Q2FY26 results demonstrate the company's ability to capitalize on the growing infrastructure and real estate sectors in India. With a strong order book, improved margins, and strategic focus on high-value projects, the company appears well-positioned for sustained growth in the coming quarters.