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Pollution-related construction bans in Delhi NCR
View Risks →Globe Civil Projects Ltd — Q3 FY26
Globe Civil Projects reported Q3 FY26 standalone revenue of ₹93.76 crore and net profit of ₹6.53 crore, with EBITDA margin stable at 15.89%.
neutral
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2-Minute Summary
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Globe Civil Projects reported Q3 FY26 standalone revenue of ₹93.76 crore and net profit of ₹6.53 crore, with EBITDA margin stable at 15.89%. The order book stands at ₹850 crore, providing ~2x book-to-bill visibility. Growth was impacted by pollution-related construction bans in Delhi NCR, delaying projects and lowering FY26 revenue growth guidance to 15-20% from the earlier 20-25%. Management maintains a medium-term target of 20% annual growth, supported by a bidding pipeline of ₹500 crore and focus on institutional buildings and sports infrastructure. Key risk: continued regulatory delays in NCR could further hamper execution and margin expansion.
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Order Book
₹850 crore
+42% YoY
Order book as of December 2025, up from ~₹600 crore a year ago.
Book-to-Bill Ratio
2.0x
flat YoY
Current ratio of order book to annualized revenue; target is 3.0x.
Working Capital Cycle
105 days
flat YoY
Cash conversion cycle; management targets reduction to 75 days.
Bidding Pipeline
₹500 crore
new
Projects under evaluation; additional ₹500 crore pipeline expected in 2 months.
Fast read
Guidance and risk preview
Revised down from 20-25% due to pollution delays in Delhi NCR; Q4 expected to be stronger.
Government-mandated construction halts during high pollution levels delay project timelines and increase overheads.
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