B L Kashyap order book is 44.42% concentrated in Haryana

B L Kashyap & Sons Ltd.'s order book was 44.42% concentrated in Haryana as of September 30, 2026. B L Kashyap reported a total order book of ₹4,647 crore, divided between 52.80% commercial/institutional work and 47.20% residential work, showing a close sector split alongside substantial exposure to one state.

How is B L Kashyap’s order book split by sector?

B L Kashyap’s ₹4,647 crore order book was 52.80% commercial/institutional and 47.20% residential on September 30, 2026. Commercial/institutional work led residential work by 5.60 percentage points, so neither of the two disclosed sectors constituted a decisive majority of the backlog.

The disclosed ongoing-project list includes substantial work in each segment. Commercial projects include Mall of India DLF Downtown Phase-2 in Gurgaon at ₹679.80 crore and Sattva Knowledge City in Chennai at ₹615.69 crore, while residential projects include BPTP Amstoria Verti Greens in Gurgaon at ₹578.17 crore and CRC-The Peridona in Noida at ₹291.40 crore.

Further commercial projects in the disclosed list were Embassy Splendid Techzone in Chennai at ₹282.25 crore and Embassy Business Hub Phase-2 in Bangalore at ₹233.26 crore. Residential work also included BPTP Amstoria GAIA Residences in Gurgaon at ₹283.48 crore and DLF The Arbour in Gurgaon at ₹243.11 crore, consistent with the two-sector classification in the September 2026 presentation.

Where is B L Kashyap’s order book located?

B L Kashyap had 44.42% of its order book in Haryana on September 30, 2026, its largest disclosed state exposure. Karnataka accounted for 24.83% and Tamil Nadu for 19.34%, meaning the three largest states together represented 88.59% of the order book.

The geographic distribution drops sharply after the three largest states. Uttar Pradesh, the fourth-largest exposure, accounted for 6.33%, which was 13.01 percentage points below Tamil Nadu’s 19.34%, while Delhi accounted for 3.74%.

Haryana’s position is reflected in the disclosed Gurgaon projects, including Mall of India DLF Downtown Phase-2 at ₹679.80 crore, BPTP Amstoria Verti Greens at ₹578.17 crore, BPTP Amstoria GAIA Residences at ₹283.48 crore and DLF The Arbour at ₹243.11 crore. B L Kashyap describes the National Capital Region as a critical market, but provides state-level percentages rather than a separate National Capital Region figure.

What projects underpin B L Kashyap’s current order book?

B L Kashyap’s eight disclosed top ongoing projects ranged from ₹233.26 crore to ₹679.80 crore in value as of September 30, 2026. The two largest were Mall of India DLF Downtown Phase-2, a Gurgaon commercial project valued at ₹679.80 crore, and Sattva Knowledge City, a Chennai commercial project valued at ₹615.69 crore.

The top-project list also indicates the overlap between sector and geography. Of the eight listed projects, four were in Gurgaon, two were in Chennai, one was in Noida and one was in Bangalore; these locations align with Haryana’s 44.42%, Tamil Nadu’s 19.34%, Uttar Pradesh’s 6.33% and Karnataka’s 24.83% shares of the order book.

B L Kashyap also identifies DLF Data Center in Noida and Sattva-Molex Data Center in Bangalore within its project portfolio. Management said it had delivered two data centers and was positioned to scale that portfolio further, although the September 2026 order-book breakdown classifies work only as commercial/institutional or residential rather than separately disclosing data-centre exposure.

The presentation reported more than 255 completed projects, about 140 million square feet of built-up area and a workforce of more than 1,300 skilled professionals and others. It also cited in-house mechanical, electrical and plumbing capabilities, enterprise resource planning systems, drones and artificial intelligence integration as operating mechanisms supporting project delivery.

What could change B L Kashyap’s order-book profile next?

B L Kashyap disclosed ₹696 crore of Q3 order wins that were excluded from the ₹4,647 crore order book reported on September 30, 2026. It said total order wins in FY 2026-27 had reached ₹1,150 crore, so the stated September order-book figure does not include the ₹696 crore of subsequent-quarter awards.

Management also disclosed a ₹7,500 crore bidding pipeline, including ₹900 crore of projects in the North and ₹1,200 crore in the South that were in advanced stages of negotiation. These are pipeline and negotiation figures rather than awarded orders, and therefore do not establish additions to the reported ₹4,647 crore order book.

For FY 2026-27, management listed higher participation in government projects, continued railway-project bidding, commercial mixed-use development and high-end residential growth among its priorities. The government-project list includes the Sabarmati Multi-Modal Hub, Gomti Nagar Railway Station, Bijwasan Railway Station, Jaipur Metro, Chennai Metro, AIIMS Raipur and AIIMS Patna.

Execution in the National Capital Region is another disclosed variable. B L Kashyap said mandatory pollution-control restrictions and Graded Response Action Plan measures in Delhi-NCR during November and December may temporarily disrupt construction activity, productivity and revenue recognition, while management said it was using resource redeployment and execution planning to minimise the impact.

Conclusion

B L Kashyap’s September 30, 2026 order book combined a near-even sector mix, with 52.80% in commercial/institutional work and 47.20% in residential projects, with a more concentrated state distribution. Haryana’s 44.42% share exceeded Karnataka’s 24.83% and Tamil Nadu’s 19.34%, while the largest disclosed ongoing projects were located in Gurgaon and Chennai.

The next matters to watch are the incorporation of ₹696 crore of Q3 order wins into the order-book position, progress in the ₹7,500 crore bidding pipeline and management’s FY 2026-27 push for government and railway work. Management’s warning on November and December Delhi-NCR restrictions also leaves execution timing and revenue recognition as unresolved factors.