Globe Civil Projects India Limited (GLOBECIVIL.NSE) is a New Delhi-based engineering, procurement and construction (EPC) company focused on institutional, public and commercial infrastructure projects across India. Listed in July 2025, the company has a market capitalization of approximately ₹[market cap] billion.
The company reported unaudited financial results for the third quarter and nine months ended Dec. 31, 2025, reflecting stable execution, margin discipline and strengthened order visibility.
Financial Performance: Q3 and 9M FY26
For Q3 FY26, consolidated total income stood at ₹1,020.91 million, while standalone total income was ₹937.57 million. Consolidated net profit for the quarter was ₹65.16 million.
For the nine-month period:
- Consolidated Total Income: ₹2,645.70 million
- Consolidated Profit Before Tax: ₹233.19 million
- Consolidated Net Profit: ₹175.41 million
- Net Profit Margin: 6.63%
- Earnings Per Share: ₹3.23
Standalone nine-month total income was ₹2,481.37 million, with net profit of ₹175.67 million and a margin of approximately 7.07%.
Revenue growth reflects ongoing execution of institutional and public infrastructure contracts. Margins remained stable despite sector-wide cost pressures.
Management Overview and Governance
The company is led by Chairman and Whole-time Director Ved Prakash Khurana, Managing Directors Vipul Khurana and Nipun Khurana, and supported by CFO Raghav Aggarwal and COO Parveen Sachdeva.
The board includes independent directors with experience in public infrastructure and finance, including former officials from CPWD and public financial institutions.
Management stated that performance during the quarter was driven by disciplined execution, selective bidding and effective cost control.
No formal revenue or margin guidance was issued for FY26 or FY27.
Business Segments and Order Book
The company operates across multiple infrastructure verticals:
- Educational and Institutional Projects (~35% of order book)
- Sports Infrastructure (~22%)
- Housing and Residential Infrastructure (~30%)
Recent FY26 awards include:
- International Cricket Stadium, Jhajjar – ₹222.20 crore
- Central University of Punjab campus – ₹172.99 crore
- Kotak School of Sustainability, IIT Kanpur – ₹70.92 crore (L1 bidder)
- Sports Complex, NIT Delhi – ₹13.11 crore
The consolidated order book exceeded ₹1,000 crore in August 2025, providing execution visibility over the next two to three years. Government-led infrastructure projects accounted for 64.75% of the total order book as of March 31, 2025.
Capital Allocation and Financial Position
Following its IPO in July 2025, the company raised ₹119.00 crore. As of Dec. 31, 2025, ₹103.63 crore had been deployed, primarily toward working capital and general corporate purposes.
Consolidated net worth stood at ₹1,062.73 million as of March 31, 2025.
The company reported maintaining an appropriate mix of debt and equity to support operations. No credit rating changes were disclosed during the quarter.
Strategic Alliances and Bidding Capacity
The company has formed six joint ventures as of March 31, 2025, to enhance bidding eligibility and technical capabilities for larger projects.
As a Class-I Super Contractor, Globe Civil Projects is eligible to bid independently for projects up to ₹6,500 million.
Management continues to prioritize projects with margin visibility and manageable execution risk.
Geographic Presence and Expansion
Globe Civil Projects operates across more than 11 states, including Delhi, Haryana, Punjab, Maharashtra and Karnataka.
The company indicated plans to expand into West Bengal and Odisha while strengthening local execution capabilities in existing markets.
Expansion remains aligned with institutional infrastructure demand.
Policy Alignment and Sector Context
The company’s growth strategy aligns with national infrastructure initiatives such as the National Infrastructure Pipeline, National Monetization Pipeline and PM Gati Shakti.
Public sector and government-backed projects form a majority of the order book. The broader EPC sector is projected to grow in the high single-digit to low double-digit range in FY26.
However, competitive bidding intensity, input cost volatility and working capital cycles remain key structural risks across the sector.
Summary
Globe Civil Projects India Limited delivered steady revenue growth and stable profitability in Q3 and 9M FY26, supported by disciplined execution and a strengthened order book exceeding ₹1,000 crore. The company continues to focus on selective bidding, working capital efficiency and expansion into new geographies while maintaining exposure to government-backed infrastructure projects. While competitive intensity and cost pressures persist in the EPC sector, the company’s institutional client base, joint venture strategy and Class-I contractor status provide structural bidding capacity and multi-year revenue visibility.