BRG Infra order book rises 42% to Rs 1,755 crore by Sep 2026

BRG Infra’s order book rose 42% from Rs 1,235 crore in March 2026 to Rs 1,755 crore at September 30, 2026, with toll-collection contracts contributing Rs 962 crore, or about 55%, of the Rs 1,755.06 crore balance of work remaining across 36 contracts.

How much did BRG Infra’s order book grow?

BRG Infra reported a current order book of Rs 1,755 crore at September 30, 2026, compared with Rs 1,235 crore in March 2026, representing stated growth of 42%. The projects-in-progress schedule provides a more precise remaining-work figure of Rs 1,755.06 crore, while the order-book headline rounds the balance to the nearest crore.

The increase was Rs 520 crore using the rounded March and September figures. This comparison spans March 2026 to September 2026 rather than a full financial year, and shows that BRG Infra had a larger disclosed balance of unexecuted work at the September reporting date.

BRG Infra defines the Rs 1,755.06 crore balance as remaining work to be executed at September 30, 2026. It was calculated by subtracting Rs 1,632.47 crore of work executed or abandoned from Rs 3,387.53 crore of work orders received across projects in progress. The balance is therefore distinct from the cumulative value of all awards received.

How is BRG Infra’s September 2026 order book split?

BRG Infra’s September 2026 order book was led by toll-collection contracts, which accounted for Rs 962 crore of remaining work. EPC, or engineering, procurement and construction, road projects represented Rs 589.03 crore, while EPC waste infrastructure and EPC building accounted for Rs 132.03 crore and Rs 72 crore respectively.

TCC means toll-collection contracts. The Rs 962 crore TCC balance was Rs 372.97 crore above the Rs 589.03 crore EPC road balance, making toll collection the largest individual component of remaining work in the September 2026 schedule.

The three disclosed EPC categories together had Rs 793.06 crore of remaining work: Rs 589.03 crore in roads, Rs 132.03 crore in waste infrastructure and Rs 72 crore in buildings. That combined balance was below the Rs 962 crore in TCC, indicating that toll contracts made up more of the reported order book than all three EPC categories combined.

What work orders support BRG Infra’s remaining backlog?

BRG Infra had received Rs 3,387.53 crore of work orders across its projects in progress by September 30, 2026. Of this amount, Rs 1,632.47 crore had been executed or abandoned, leaving Rs 1,755.06 crore to be executed across roads, buildings, waste infrastructure and TCC toll contracts.

EPC road had the largest cumulative value of work orders received at Rs 1,637.40 crore, ahead of Rs 1,376.70 crore in TCC toll work orders. However, Rs 1,048.37 crore of road work had been executed or abandoned, compared with Rs 414.70 crore for TCC toll, leaving a higher remaining balance in toll contracts.

EPC waste infrastructure had Rs 132.03 crore of remaining work despite receiving Rs 167.23 crore of work orders, because only Rs 35.20 crore had been executed or abandoned by September 30, 2026. In comparison, EPC building had received Rs 206.20 crore of orders but had a lower remaining balance of Rs 72 crore after Rs 134.20 crore was executed or abandoned.

What does BRG Infra’s toll portfolio include?

BRG Infra operated 10 toll-collection contracts from the National Highways Authority of India and the Uttar Pradesh Expressways Industrial Development Authority as of September 2026. The company describes TCC as a recurring-income model and as a high-return-on-capital-employed activity, although the presentation does not provide a separate return-on-capital-employed figure for this vertical.

The 10 TCC contracts were located in Madhya Pradesh, Gujarat, Chhattisgarh, Maharashtra, Rajasthan, Uttar Pradesh, Telangana and Andhra Pradesh. BRG Infra employed close to 800 personnel in the toll vertical, compared with employee strength of more than 1,400 across the company as of September 2026.

The Rs 962 crore TCC balance should be considered alongside the Rs 1,376.70 crore of cumulative toll work orders received. BRG Infra does not disclose individual contract terms, toll collections, traffic volumes, contract duration or a contract-by-contract completion schedule, so the presentation does not establish the timing of conversion from this balance into revenue.

How do BRG Infra’s other businesses fit the order-book picture?

BRG Infra’s EPC operations cover roads, highways, bridges, buildings and water infrastructure, with clients including the National Highways Authority of India, the National Highways and Infrastructure Development Corporation, the Ministry of Road Transport and Highways, and public works departments. At September 30, 2026, its order book included Rs 589.03 crore of road, Rs 72 crore of building and Rs 132.03 crore of waste-infrastructure work.

Outside the four order-book categories, BRG Infra operated two residential plotting projects, BRG Hill View I and II, in Indore. These projects were developed around 2.40 lakh square feet and target the mid-income segment; the presentation also says that land is available in Madhya Pradesh and Maharashtra for future planning, without assigning a rupee backlog value.

BRG Infra also operated a ready-mix concrete plant in Indore with annual capacity of 1.80 lakh cubic metres. Plant utilisation increased from 64% in FY25 and 66% in FY26 to 70% in H1 FY27, but the ready-mix concrete activity is not included in the Rs 1,755.06 crore projects-in-progress schedule.

Conclusion

BRG Infra’s September 2026 order book was Rs 1,755.06 crore, up from the rounded Rs 1,235 crore disclosed for March 2026. Its composition was weighted towards TCC, where Rs 962 crore of remaining work exceeded the Rs 793.06 crore balance across the three disclosed EPC categories, even though road EPC had the largest cumulative work orders received at Rs 1,637.40 crore.

What to watch next is execution of the Rs 1,755.06 crore remaining balance, especially the Rs 962 crore TCC component, because BRG Infra has not disclosed completion timing by contract. Management also disclosed plans to invest in public-private partnership models and identified bidding for toll, hybrid annuity model and toll-operate-transfer projects, alongside strategic partnerships in wastewater treatment and water-supply lines, as expansion opportunities.