Krystal Integrated Services Limited has secured three major municipal solid waste management contracts from Vasai Virar City Municipal Corporation, collectively worth ₹275 crore. The contracts, dated January 09, 2026, and received by the company on January 12, 2026, represent a significant expansion of the company's waste management operations.

Contract Details and Scope

The three work orders cover comprehensive solid waste management services across different prabhags in accordance with the Solid Waste Management Rules 2016. The scope includes door-to-door collection, segregation, and transportation of municipal solid waste, along with street cleaning and transportation to specified locations.

Recent Contract Wins

These latest contracts add to Krystal Integrated Services' impressive order book expansion in recent months. In September 2025, the company secured two major contracts that demonstrate its diversified service capabilities.

The Director of Medical Education in Vijayawada, Andhra Pradesh, awarded the company a facility management contract worth ₹168 crore on September 16, 2025. This three-year agreement covers sanitation and housekeeping services for hospitals and institutions under the DME's authority under Package-I.

Additionally, the Commissionerate of Social Welfare in Pune awarded a five-year contract valued at ₹370 crore for mechanized cleaning and outsourced labor services. This project encompasses welfare institutions across Maharashtra, including hostels, residential schools, old age homes, training facilities, and administrative buildings serving disadvantaged groups, elderly residents, and students.

Business Expansion Initiatives

The company has recently expanded its operational scope through the establishment of specialized subsidiaries. Krystal Ports and Harbour Private Ltd was incorporated to focus on building, operating, and maintaining inland waterways, harbors, ports, jetties, docks, and canals.

Simultaneously, Krystal Water Resources Private Ltd was established to handle planning, designing, developing, building, running, and maintaining water resource projects. This subsidiary's scope includes water supply systems, irrigation systems, water treatment plants, desalination plants, and wastewater and sewage treatment plants.

Financial Performance

Krystal Integrated Services demonstrated strong financial performance in FY25, which ended on March 31, 2025. The company's financial metrics showed consistent growth across key parameters.

For the first quarter of FY26, the company recorded revenue from operations of ₹323.00 crore and net profit of ₹16.43 crore, representing a 25.60% year-on-year growth.

Company Overview

Founded in 2000 and headquartered in Mumbai, Maharashtra, Krystal Integrated Services Limited has established itself as one of India's fastest-growing suppliers of comprehensive facility management services. The company serves diverse industries including retail, government administration, healthcare, education, and transportation infrastructure, positioning itself as a versatile service provider in the facilities management sector.

Krystal Integrated Services Ltd experienced a significant 7% surge in its stock price after securing three major waste management contracts worth ₹275 crores from Vasai Virar City Municipal Corporation. The stock hit an intraday high of ₹668, rising from the previous close of ₹624, reflecting strong investor confidence in the company's expanded order book.

Contract Details and Scope

The company announced securing three long-term municipal solid waste management contracts from Vasai Virar City Municipal Corporation covering Prabhag C, F, and G. Each contract spans a five-year period and encompasses comprehensive waste management services including door-to-door waste collection, segregation, street cleaning, and transportation in compliance with Solid Waste Management Rules, 2016.

Market Performance and Valuation

With a market capitalization of ₹863 crores, Krystal Integrated Services currently trades at a PE ratio of 15, significantly lower than the industry average of 23. The substantial contract wins provide long-term revenue visibility and reinforce the company's leadership position in urban sanitation and municipal waste management services across Maharashtra.

As of Q2FY26, the company maintained a robust order book of ₹2,600 crores, demonstrating strong business momentum and future revenue security.

Business Diversification and Revenue Mix

Krystal Integrated Services operates as a diversified facility management company with revenue streams across multiple sectors. The company's revenue composition as per latest quarterly reports shows:

Recent Financial Performance

The company's recent financial results show mixed performance across different quarters. In Q2FY26, revenue declined marginally by less than 1% year-on-year, dropping from ₹246 crores in Q2FY25 to ₹244 crores. Quarter-on-quarter revenue fell 14% from ₹285 crores in Q1FY26.

Despite recent quarterly fluctuations, the company demonstrates strong long-term growth with a 3-year profit CAGR of 32% and sales CAGR of 28%.

Company Background

Incorporated in 2000 and headquartered in Mumbai, Krystal Integrated Services Ltd operates as one of India's fastest-growing Integrated Facility Management Services companies. With over 25 years of industry experience, the company delivers sustainable, technology-driven facility management solutions across healthcare, education, infrastructure, and waste management sectors. The company's notable client portfolio includes Jaguar, D Mart, Big Basket, and Domino's Pizza.