Ahluwalia Contracts (India) Ltd has secured a significant construction contract worth ₹393.04 crore from the Airports Authority of India (AAI) for the development of a new greenfield airport in Rajasthan. According to the latest regulatory filing under SEBI (LODR) Regulations 2015, the order has been awarded by the Airports Authority of India headquartered at Rajiv Gandhi Bhawan in New Delhi. The project involves the development of a new greenfield airport at Bundi in Kota, Rajasthan, and is classified as a domestic building construction contract.
The company stated that the project is to be executed within a period of 18 months, with the total contract value standing at ₹393.04 crore, excluding GST. As confirmed in the regulatory filing, the company clarified that neither the promoter nor promoter group entities have any interest in the awarding authority, and the contract does not fall under related party transactions. The formal announcement provides comprehensive details about this infrastructure project, with the company filing mandatory disclosures with BSE Limited, National Stock Exchange of India Ltd, and Calcutta Stock Exchange Ltd.
Ahluwalia Contracts delivered robust financial performance in the third quarter of FY26, showcasing consistent growth across key operational metrics. According to the latest results, revenue from operations reached ₹1,060.72 crore in Q3FY26, compared to ₹951.96 crore in the corresponding quarter of the previous year, representing a healthy growth rate of 11.43%. The company reported net profit of ₹54.02 crore with a growth of 9.38%, while earnings per share stood at ₹8.06 compared to ₹7.37 in Q3FY25. However, recent research by ICICI Securities highlighted that the company's Q3FY26 performance fell short of expectations, with revenue missing the brokerage's estimate of ₹11 billion despite year-on-year growth of 11%.
Despite execution challenges, order inflows have remained strong with year-to-date order inflow standing at ₹96 billion, surpassing the company's FY26 guidance of ₹80 billion. The order book is estimated at around ₹214 billion, implying a healthy book-to-bill ratio of about 4.8. As reported by CNBC TV18, execution during the quarter and partly in the fourth quarter was impacted by construction bans in the National Capital Region amid worsening air quality. The company's strong order book position demonstrates its competitive positioning in the infrastructure sector.
Shares of Ahluwalia Contracts (India) Ltd ended higher on Wednesday, March 18, by 3.27% at ₹746.00 on the NSE, according to CNBC TV18. The company revised its FY26 revenue growth guidance downward to 10-15% from an earlier 15-20% due to construction bans. Additionally, the Board of Directors approved a significant corporate restructuring initiative during their meeting held on February 14, 2026, involving the amalgamation of five wholly-owned subsidiaries with the parent company on a going concern basis. These subsidiaries include Dipesh Mining Pvt. Ltd., Jiwanyoti Traders Pvt. Ltd., Paramount Dealcomm Pvt. Ltd., Preamsagar Merchants Pvt. Ltd., and Splendor Distributors Pvt. Ltd., all engaged in real estate activities. ICICI Securities has upgraded the stock to 'Buy' from 'Add', citing the recent correction in share price and expecting the company to deliver a compound annual growth rate of 17% in revenue, 26% in EBITDA and 25% in profit after tax over FY25–FY28.
