Globe Civil Projects Limited has been identified as the lowest bidder (L1) for a significant construction project tendered by the Indian Institute of Technology, Delhi. The company announced this development under Regulation 30 of SEBI (LODR) Regulations on February 27, 2026, marking a major milestone in its project portfolio.

Project Overview

The tender, identified by NIT No. 123/IITD/EE(CD-1)/2025-26, pertains to the construction of a residential building (3B+G+11) including allied services at IITD Extension Campus at Sector-3, R.K. Puram, Delhi. The tender was opened on February 27, 2026, through the Government E-Procurement System.

Project Specifications

The construction project involves building a residential facility with basement levels (3B) plus ground floor and 11 upper floors (G+11). The scope includes all allied services required for the complete development of the residential building at the IIT Delhi extension campus.

Management Commentary

Mr. Vipul Khurana, Managing Director of Globe Civil Projects Limited, commented on the achievement: "Securing this prestigious project with the Indian Institute of Technology Delhi marks a defining milestone for Globe Civil Projects Limited. It reflects the trust placed in our technical expertise, proven execution capabilities, and established track record in delivering complex infrastructure initiatives."

Market Impact

This development constitutes a major expansion of the company's order book and reaffirms its proven capabilities in delivering large-scale institutional and government infrastructure projects. The substantial order demonstrates Globe Civil Projects' ability to secure prestigious contracts from premier educational institutions.

Next Steps

The company has confirmed that the formal Letter of Award is expected to be issued in due course. All terms and conditions will be applicable in accordance with the tender document, and the project is classified as a domestic contract with no related party transactions involved.

This development reinforces Globe Civil Projects' position in the infrastructure sector and its ability to compete successfully for significant government and institutional construction projects.

Globe Civil Projects Limited held its Q3 and 9M FY26 results conference call on February 20, 2026, providing detailed insights into the company's financial performance and operational challenges. The virtual meeting was hosted by EquiBridgeX Advisors and featured key management personnel including Managing Director Vipul Khurana and CFO Raghav Aggarwal.

Q3 FY26 Financial Performance

The company delivered consistent performance during the quarter, maintaining stable revenue generation and profitability margins through disciplined project execution.

Nine Months FY26 Cumulative Results

The nine-month performance reflects the company's sustained operational discipline and effective cost management across ongoing EPC projects.

Order Book and Business Pipeline

Management disclosed a robust order book position and active bidding pipeline during the earnings call.

Delhi NCR Pollution Impact

Vipul Khurana highlighted significant operational challenges due to pollution-related construction bans in Delhi NCR, where the company has concentrated project exposure. The Graded Response Action Plan (GRAP) restrictions have caused project delays, with construction stopping when pollution levels reach GRAP 3 and complete bans under GRAP 4 conditions.

Major affected projects include KG Marg (₹200 crores), two Unitech projects (₹200 crores combined), Haryana Cricket Association stadium, Delhi Public School projects in Noida and Faridabad, and NIT Narela. The company reported that approximately 70% of its current order book is concentrated in Delhi NCR region.

Growth Guidance and Strategic Focus

Despite current challenges, management maintained optimistic growth projections and outlined strategic priorities.

IPO Proceeds Utilization

CFO Raghav Aggarwal provided updates on IPO fund deployment, confirming substantial utilization of the ₹119 crore proceeds. Working capital allocation of ₹75 crores has been almost fully utilized, while ₹10-11 crores remains available for capital expenditure from the original ₹14 crore allocation.

Management Outlook

The company expects improved execution momentum in Q4 FY26 as pollution restrictions ease and pending project approvals are secured. Management emphasized selective bidding strategy, focusing on projects with assured funding and appropriate risk-return profiles. The sports infrastructure segment emerged as a strategic growth area, with expectations of securing 1-2 additional sports projects during FY26.

The earnings call concluded with management reaffirming commitment to maintaining healthy margins while pursuing sustainable growth through disciplined project selection and execution excellence.