Ahluwalia Contracts Surges 17% Post Q2 Earnings: A Closer Look
A leading infrastructure stock, Ahluwalia Contracts (India) Ltd, attracted strong investor interest after releasing its latest quarterly results. The company's performance stood out due to sharp earnings growth and a steadily expanding order pipeline across multiple project segments, signaling sustained demand and operational strength.
Ahluwalia Contracts, with a market capitalisation of Rs. 6,591.24 crore, opened at Rs. 1,028.90 against the previous close of Rs. 882.30, hitting an intraday high of Rs. 1,028.90. This reflects a 16.61 percent increase from the previous closing price, a significant jump that underscores investor confidence in the company's financial health and growth prospects.
Financial Snapshot – Q2FY26
Quarter-on-Quarter (QoQ): Revenue increased from Rs. 1,005 crore to Rs. 1,177 crore, reporting a 17.11 percent quarter-on-quarter growth. Operating profit rose from Rs. 86 crore to Rs. 128 crore, an improvement of 48.84 percent, while operating margins expanded from 9 percent to 11 percent. Profit before tax grew from Rs. 70 crore to Rs. 106 crore, up 51.43 percent, and net profit surged from Rs. 51 crore to Rs. 79 crore, representing 54.90 percent growth. Earnings per share increased from Rs. 7.64 to Rs. 11.73.
Year-on-Year (YoY): Revenue grew from Rs. 1,011 crore to Rs. 1,177 crore, registering 16.42 percent year-on-year expansion. Operating profit rose from Rs. 73 crore to Rs. 128 crore, marking a strong 75.34 percent rise, while operating margins increased from 7 percent to 11 percent. Profit before tax moved up from Rs. 53 crore to Rs. 106 crore, rising 100 percent, and net profit jumped from Rs. 38 crore to Rs. 79 crore, delivering 107.89 percent growth. Earnings per share improved from Rs. 5.73 to Rs. 11.73, reporting 104.70 percent year-on-year expansion.
Order Book Details
The company reported a gross order book of approximately Rs. 25,004.9 crore as of 30 September 2025, while the unexecuted order book stood at Rs. 18,057.6 crore. Residential projects accounted for 43.8 percent of the order mix, followed by 22.1 percent from infrastructure, 20.6 percent from commercial developments, 9 percent from hospital projects, 3.7 percent from institutional work, and 0.8 percent from hospitality projects. The order split comprised 69.4 percent from private sector clients, 22.3 percent from central government linked institutions, 7.3 percent from state-based entities, and 1.3 percent from overseas exposure.
Client Profile
The company caters to a large and diversified client base across technology, real estate, infrastructure, government, and healthcare sectors with marquee names including NBCC, Adani Connex Data Centres, Bharti Airtel, Infosys, Punjab National Bank, State Bank of India, Vedanta, Max Healthcare, Reliance Industries, ITC, Apollo Tyres, Delhi Metro Rail Corporation, Indiabulls, Central Public Works Department, Honda, and Brigade, among several others.
About the Company
Ahluwalia Contracts (India) Limited operates as an engineering, procurement, and construction company executing projects in India and select international markets through its construction, lease rental, and other operating segments. Its project portfolio spans residential and commercial buildings, corporate offices, hotels, institutional and healthcare facilities, IT parks, automated multi-level parking systems, industrial complexes, townships, metro depots and stations, redevelopment of railway stations, BOT assignments, urban development, and data center infrastructure. The company is also involved in commercial property development, real estate trading, and rental income-based activities.
The company's robust financial performance, diversified client base, and strong project pipeline are key factors driving its recent stock surge. Investors are optimistic about its future prospects, especially given the growing demand for infrastructure and real estate development in India.
