LCC Projects Limited Q2 Profit Rises 58% to ₹76.9 Crore

LCC Projects Limited reported consolidated revenue from operations of ₹885.7 crore in Q2 FY27, up 34% year on year, while profit after tax rose 58% to ₹76.9 crore. The results, approved on October 30, 2026, also showed an improvement in operating and net profit margins.

What did LCC Projects report for Q2 FY27?

LCC Projects reported consolidated revenue from operations of ₹885.7 crore for the quarter ended September 30, 2026, compared with ₹661.3 crore in the corresponding quarter a year earlier. Consolidated EBITDA increased 46% year on year to ₹136.9 crore, while EBITDA margin improved to 15.5% from 14.2% in Q2 FY26.

Consolidated EBIT rose 52% to ₹130.3 crore and the EBIT margin expanded to 14.6% from 12.8%. Profit after tax was ₹76.9 crore, up 58% from the year-earlier period, with the PAT margin improving to 8.6% from 7.3%. The quarterly result combines stronger revenue growth with higher operating profitability.

The standalone financial statement showed revenue from operations of ₹817.1 crore, total income of ₹823.9 crore and profit before tax of ₹93.7 crore. Standalone profit after tax was ₹70.0 crore, while basic and diluted earnings per share were ₹2.41.

How did LCC Projects perform in the first half of FY27?

LCC Projects recorded consolidated revenue from operations of ₹1,688.3 crore in the first half of FY27, compared with ₹1,606.8 crore in H1 FY26. The company described this as a 5% year-on-year increase, reflecting the aggregate performance for the six months ended September 30, 2026.

Consolidated EBITDA for the first half rose 16% to ₹256.4 crore, with an EBITDA margin of 15.2%. EBIT increased 18% to ₹246.4 crore, while consolidated profit after tax grew 13% to ₹142.7 crore.

On a standalone basis, first-half revenue from operations was ₹1,595.1 crore and total income was ₹1,610.9 crore. Standalone profit before tax came to ₹178.6 crore, and profit after tax was ₹131.0 crore. Standalone basic and diluted earnings per share for H1 FY27 were ₹4.52.

What supported LCC Projects' quarterly growth?

LCC Projects' reported Q2 revenue growth was accompanied by margin expansion at the EBITDA, EBIT and PAT levels. EBITDA margin increased by 130 basis points, while the PAT margin increased by 130 basis points over Q2 FY26. These changes explain why profit growth outpaced the increase in revenue during the quarter.

The company cited a robust order book of ₹8,146.6 crore as of September 30, 2026. Around 75% of the order book came from the public sector and the remaining 25% from private-sector customers. LCC Projects said its positioning in India's irrigation and water-management sector is supported by government initiatives in these areas.

The company completed its initial public offering during the quarter. The issue comprised 2,92,56,232 equity shares and aggregated ₹427.1 crore through a fresh issue and an offer for sale. Its shares were listed on the National Stock Exchange of India and BSE Limited on September 17, 2026.

What do the balance sheet and audit review show?

LCC Projects had consolidated total assets of ₹2,905.6 crore and consolidated equity of ₹1,276.2 crore as of September 30, 2026. Standalone total assets were ₹2,806.2 crore, while standalone equity stood at ₹1,247.0 crore.

Gross debt was ₹884.5 crore at the end of the quarter, and the gross debt-to-equity ratio was 0.70 times. These figures provide context for the company's capital structure following the IPO completed during the period.

Surana Maloo & Co., Chartered Accountants, conducted a limited review of the standalone unaudited financial results. In its report dated October 30, 2026, the auditor said nothing had come to its attention that caused it to believe the financial statements, prepared under Indian Accounting Standards, contained a material misstatement.

Why do LCC Projects' results matter to investors?

LCC Projects' results matter because the company reported both revenue growth and improved profitability in the first full quarterly result after its September listing. The rise in EBITDA, EBIT and PAT margins indicates that earnings increased faster than revenue in Q2 FY27.

The order book also gives a measure of the work available for execution, although its conversion into revenue will depend on project schedules and execution. Its public-sector share of about 75% links a substantial portion of the order pipeline to government and public-sector project activity, particularly in irrigation and water management.

For investors, the reported gross debt of ₹884.5 crore and debt-to-equity ratio of 0.70 times are relevant alongside the expanded equity base following the IPO. The financial statements remain unaudited and subject to the limited-review process described by the auditor.

Conclusion

LCC Projects delivered higher consolidated revenue, operating profit and net profit in Q2 FY27. Revenue reached ₹885.7 crore and PAT reached ₹76.9 crore, while EBITDA margin increased to 15.5% and PAT margin to 8.6%. The first-half numbers also showed profit growth ahead of revenue growth.

The next areas to watch are execution of the ₹8,146.6 crore order book, the mix of public and private-sector projects, and changes in debt following the IPO. The company has highlighted opportunities in irrigation and water management, while its future reported results will show how that pipeline translates into revenue and profitability.