Bhubaneswar: Dilip Buildcon Limited (DBL) reported a sharp rise of ~399% YoY in consolidated profit after tax for the third quarter ended December 2025, driven primarily by one-time gains, while the company’s order book touched a record high at ₹29,372 crore, providing medium-term revenue growth visibility.
The multi-asset infrastructure developer reported a consolidated PAT of ₹789 crore in Q3 FY26, compared with ₹158 crore in the corresponding quarter last year, translating into a nearly five-fold year-on-year increase. The quarterly performance was supported by exceptional income of ₹585 crore, arising from the transfer of equity interests in seven Hybrid Annuity Model (HAM) road assets from DBL to the InvIT.
A key highlight of the quarter was DBL’s order book, which climbed to an all-time high of ₹29,372 crore, reflecting strong inflows across roads, tunnels, irrigation, metro rail, water and mining segments. The diversified order pipeline is expected to support execution momentum over the medium term, even as the company continues its transition towards asset-backed and annuity-oriented platforms. Consolidated revenue for the quarter stood at ₹2,138 crore, while EBITDA was reported at ₹382 crore, translating into an EBITDA margin of 17.9%.
Commenting on the Q3 performance, Mr. Dilip Suryavanshi, Chairman and Managing Director, Dilip Buildcon Limited, said, “This quarter has been encouraging in terms of order inflows, with our order book now at an all-time high. With elections behind us, the pace of awarding orders shows clear signs of recovery. We also welcome the Government’s continued push on capital expenditure in the Union Budget. The allocation of ₹12.21 trillion towards capex for FY27, a 12% increase over the revised FY26 estimate-reinforces policy continuity and remains a strong positive for infrastructure-focused companies.”
DBL also reported further improvement in its leverage metrics, with the net debt-to-equity ratio declining to 0.32 times as of December 2025 from 0.40 times, a year earlier, reflecting ongoing debt reduction and tighter control over capital expenditure.
For the nine months ended December 31, 2025, the company reported consolidated revenue from operations of ₹6,684 crore, EBITDA of ₹1,373 crore, with an EBITDA margin of 20.54%, and PAT of ₹1,275 crore, indicating the impact of capital monetisation initiatives alongside steady operational execution.
