What was HG Infra Engineering's revenue in Q3 FY26?

HG Infra Engineering reported revenue of ₹1,421 Cr in Q3 FY26, a — change year-over-year.

Did HG Infra Engineering management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

HG Infra Engineering Q3 FY26 Research Workspace: Revenue ₹1,421 Cr (—)

Q: What guidance did HG Infra Engineering management give?

Q4 FY26 revenue guidance of ~₹2,000 crore: Management expects standalone revenue of around ₹2,000 crore in Q4 FY26, driven by execution catch-up.

Revenue ₹1,421 Cr

EBITDA ₹224 Cr

PAT ₹94 Cr

EBITDA Margin 22%

Duration 45 min

Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

✦ AI-Generated from Full Transcript

HG Infra reported Q3 FY26 standalone revenue of ₹1,450 crore with EBITDA margin of 15.5%, while PAT declined to ₹97 crore (6.7% margin) due to higher tax provisions. The order book stands at ₹13,624 crore, with roads contributing 64%, railways 20%, and renewables 15%. Execution was impacted by prolonged monsoon and delayed appointed dates for key projects like Varanasi-Kolkata Package 10. Management expects Q4 revenue of ~₹2,000 crore and FY27 revenue of ~₹7,000 crore, driven by existing orders and new project wins. Order inflow target for FY27 is ₹10,000-12,000 crore. Risks include margin compression from competitive bidding, delays in HAM asset monetization, and the ongoing CBI investigation which management declined to elaborate on.

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CBI investigation impact

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Quarter Snapshot

Order Book ₹13,624 crore

+?% YoY

Order book includes roads (₹8,734 cr), railways (₹2,779 cr), renewables (₹1,620 cr), and others.

Solar Project Completion 95.8%

+?pp QoQ

Physical progress of solar projects; commissioning expected by March 2026.

HAM Asset Monetization Proceeds ₹500-600 crore

N/A

Expected first tranche from divestment of 5 HAM SPVs, likely in Q4 FY26.

Order Inflow YTD ₹3,300 crore

N/A

New orders secured in 9M FY26; target of ₹4,000-5,000 crore by March 2026.

Fast read

Guidance and risk preview

Top guidance Q4 FY26 revenue guidance of ~₹2,000 crore

Management expects standalone revenue of around ₹2,000 crore in Q4 FY26, driven by execution catch-up.

Top risk CBI investigation impact

CBI searched company offices in January 2026; management provided no details beyond stock exchange disclosures, creating uncertainty.