GPT Infraprojects records Rs 1,491 crore of Q2 FY27 orders

GPT Infraprojects Limited reported Rs 1,491 crore of order inflow in Q2 FY27 and a Rs 5,373 crore order backlog at September 30, 2026, with infrastructure accounting for 84% of work on hand. Consolidated revenue rose 4.6% year on year to Rs 291.4 crore during the quarter.

How much order inflow did GPT report in Q2 FY27?

GPT reported Rs 1,491 crore of order inflow in Q2 FY27, including incremental orders from existing contracts. The company disclosed the figure with its financial results for the quarter ended September 30, 2026, which it announced on November 4, 2026. Its reported order backlog stood at Rs 5,373 crore.

The release does not disclose Q2 FY26 order inflow, so a year-on-year comparison of new orders is not available. It identifies a Rs 484 crore contract for a railway bridge and railway signalling contracts worth about Rs 428 crore secured through Alcon Builders & Engineers Limited. These disclosed orders total about Rs 912 crore of the Rs 1,491 crore quarterly order inflow.

The Rs 484 crore project covers a 544-metre open-web steel girder bridge over the Mahanadi River. It is part of the third and fourth railway line project between Nergundi and Barang. The contract falls within GPT’s railway-focused infrastructure activity rather than its concrete sleeper business.

What is GPT’s order backlog split between businesses?

GPT’s Rs 5,373 crore order backlog comprised about Rs 4,521 crore of infrastructure work and about Rs 852 crore of concrete sleeper work. The company presented these businesses as 84% and 16%, respectively, of the order book. Infrastructure was therefore the larger source of contracted work awaiting execution at the end of Q2 FY27.

Infrastructure’s 84% share of the backlog was lower than its 90% share of segment revenue in the presentation. It also accounted for 94% of segment earnings before interest, tax, depreciation and amortisation, or EBITDA, compared with 6% for concrete sleepers. Concrete sleepers represented 10% of segment revenue and 16% of the order book.

GPT operates through infrastructure and sleeper segments. Its infrastructure work includes railway-focused civil projects, large bridges and road overbridges, while the sleeper segment manufactures and supplies concrete sleepers for railways in India and Africa. The company listed manufacturing units at Panagarh in West Bengal, Ladysmith in South Africa, Tsumeb in Namibia and Eshiem in Ghana.

How did GPT’s order position compare with quarterly financial results?

GPT reported consolidated Q2 FY27 revenue of Rs 291.4 crore, up 4.6% from Rs 278.7 crore in Q2 FY26, alongside its Rs 5,373 crore backlog. Revenue was 3.5% below Rs 302.1 crore in Q1 FY27. The presentation separately reports quarterly revenue and the order book, without a schedule for converting backlog into revenue.

Q2 FY27 EBITDA rose to Rs 41.3 crore from Rs 39.5 crore a year earlier, while EBITDA margin remained 14.2%. Profit after tax fell to Rs 18.3 crore from Rs 21.8 crore, and the profit-after-tax margin declined to 6.3% from 7.8%. Thus, revenue and EBITDA increased year on year, while profit after tax decreased.

For H1 FY27, GPT recorded consolidated revenue of Rs 593.5 crore, 0.4% above Rs 591.3 crore in H1 FY26. EBITDA increased 16.1% to Rs 88.9 crore and the EBITDA margin rose to 15.0% from 12.9%. Profit after tax declined 5.3% to Rs 42.9 crore, with the margin moving to 7.2% from 7.7%.

What orders and execution factors did GPT identify?

GPT identified railway bridges, railway signalling contracts and additions to existing contracts among Q2 FY27 order contributors. Alcon Builders & Engineers Limited, which GPT acquired in February 2026, secured multiple railway signalling contracts aggregating about Rs 428 crore. GPT said those wins took Alcon’s order book to about Rs 480 crore, its highest level to date.

Chairman Dr Om Tantia said H1 FY27 project execution was broadly stable, though select projects saw temporary moderation during the West Bengal Assembly elections in April and May and an extended monsoon across India. He said workforce availability had normalised and execution was gradually recovering. The release does not provide a revenue target or quarter-by-quarter execution timetable for the Rs 5,373 crore backlog.

Management also cited the revival of African operations, an expanding project pipeline and growing capabilities in infrastructure engineering, procurement and construction, or EPC, and signalling. GPT manufactures sleepers for railways in India and Africa, while its infrastructure segment is focused on railway civil work. The company did not disclose the value of African operations within the Rs 852 crore sleeper order book.

Conclusion

GPT’s Q2 FY27 disclosure shows Rs 1,491 crore of order inflow and Rs 5,373 crore of work on hand, led by Rs 4,521 crore of infrastructure backlog. That segment also accounted for 90% of reported revenue and 94% of EBITDA, while consolidated H1 FY27 revenue increased 0.4% and EBITDA increased 16.1%.

The next disclosed developments to watch are management’s stated gradual recovery in project execution after the April-May West Bengal elections and extended monsoon, and the build-out of Alcon’s approximately Rs 480 crore order book. GPT also declared an interim dividend of 1 rupee per share, with November 11, 2026 as the record date.