GPT Infraprojects Ltd(GPTINFRA)

NSE: GPTINFRABSE: 533761

₹ 113.45-1.52%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 1,434 crWebsite: www.gptinfra.inUpdated: 24 Oct 2026

About

GPT Infraprojects Ltd is a Kolkata-based EPC contractor for railways, roads, bridges, power and industrial sectors that also makes pre-stressed concrete sleepers, and it has added a railway signalling arm through the acquisition of Alcon Builders. It reported consolidated revenue of ₹1,289.92 Cr in FY26 and had an order book of ₹4,303 Cr as of Q1 FY27. The company says it is the only Indian concrete sleeper maker with a global footprint, with operations across India, South Africa, Namibia and Ghana.^[1][2]

Business segments

Infrastructure contributed 91.5% of FY26 consolidated revenue at ₹1,182.52 Cr, covering EPC work on railway structures, bridges, roads and urban flyovers, with an EBIT margin of 13.6%.^[3]
Concrete Sleeper contributed 8.5% of FY26 consolidated revenue at ₹109.38 Cr, with an EBIT margin of 13.7%.^[3]
Railway Signalling EPC was added through the acquisition of Alcon Builders and Engineers, a 100% subsidiary from January 1, 2026. Alcon delivered about ₹20 Cr of revenue in Q1 FY27.^[4]

Order book and inflows

The unexecuted order book was ₹4,303 Cr as of Q1 FY27 (June 2026), about 3.5x FY26 revenue: Infrastructure ₹3,823 Cr, Concrete Sleepers ₹480 Cr, Signalling ₹90 Cr.^[5]
The order book was ₹3,485.7 Cr as of March 31, 2025, a record at that date, giving revenue visibility of nearly 2.9 years.^[1]
Order inflow was a record ₹2,422 Cr in FY26, about 21% above the ₹2,000 Cr guidance.^[4]
New order inflows were ₹130 Cr in Q1 FY27. The full-year FY27 inflow target is ₹3,000 Cr+.^[5]
The average project size had risen to around ₹550 Cr as of FY25, and the company is pre-qualified to bid on its own for projects of ₹1,000 Cr and above.^[1]

Key operating numbers

Consolidated EBITDA margin was 15.7% in Q1 FY27, up from 11.8% in Q1 FY26.^[5]
Consolidated EBITDA margin was 13.5% in FY26, up 200 bps from FY25. It reached 14.3% in Q4 FY26, up about 400 bps year on year.^[4]
The concrete sleeper segment's EBITDA margin was 14-15% in Q1 FY27, helped by export orders from the Panagarh factory.^[5]
Standalone revenue was ₹1,226.3 Cr in FY26 (+5.8% YoY), below the ₹1,400 Cr guidance. About 40% of revenue comes from West Bengal, where election-period labour disruption hit Q4 FY26 and Q1 FY27.^[4]

Operations and manufacturing

Total annual sleeper capacity was 1.45 million units across India, South Africa, Namibia and Ghana as of FY25.^[1]
Sleeper plant capacities as of FY25: Panagarh 5,00,000 units per annum, South Africa 5,00,000 units, Namibia 2,00,000 units.^[1]
The Ghana sleeper facility started commercial operation, with its first invoice raised in March 2026. The South African plant is at Ladysmith, KZN.^[4]
A steel girder fabrication facility was commissioned at Singur, West Bengal, with an initial capacity of 10,000 tons per annum, at a cost of about ₹25 Cr.^[4]
GPT has supplied over 15 million sleepers to Indian Railways, has exported sleepers to Bangladesh and Sri Lanka, and has set up factories in Mozambique and Myanmar (as of FY25).^[1]
The company had 925 employees as of March 31, 2025.^[1]

Customers

Key domestic clients include Indian Railways (Northern Railway, Western Railway), NHAI, MCGM and PGCIL. FY26 wins included a ₹1,201 Cr Northern Railway Ganga bridge (GPT share ₹481 Cr) and a ₹1,805 Cr MCGM flyover (GPT share ₹470 Cr).^[4]
International clients include Transnet Freight Rail (South Africa) for sleepers and Terminal Industriel Polyvalent de San Pedro (Ivory Coast) for a ₹195 Cr conveyor belt system at San Pedro port.^[6]
GPT Concrete Products South Africa won a ₹385 Cr (ZAR 660 million plus VAT) contract from Transnet Freight Rail to make and supply sleepers from Ladysmith over 5 years.^[7]
The largest sleeper order as of FY25 was from RMS Concrete Limited in Ghana, with ₹12,300 lakh outstanding.^[1]

Expansion and new verticals

GPT entered Power EPC in Q1 FY27 with a ₹53 Cr contract in Kurnool, Andhra Pradesh, where PGCIL is the ultimate client. Management targets ₹150-200 Cr of annual revenue from this segment at a 13-14% EBITDA margin.^[5]
First Hybrid Annuity Model contract: an elevated bypass in Jodhpur from NHAI valued at ₹669 Cr (GPT share about ₹341 Cr at 51%). The SPV has been incorporated.^[4]
Annual capex is guided at about ₹70-75 Cr a year for the next couple of years, covering HAM equity and equipment.^[4]

Recent developments

22 Oct 2026: Won a ₹27.08 Cr order from AFCONS - KTPL (JV) to supply dual gauge monoblock pre-stressed concrete sleepers over 10 months.^[8]
17 Oct 2026: Won a ₹134.11 Cr (incl. GST) contract from Western Railway, Ratlam Division, for 4-aspect automatic block signalling with EI, to be executed in 548 days.^[9]
16 Oct 2026: Won a ₹149.50 Cr (incl. GST; ₹126.70 Cr excl. GST) contract from Western Railway, Bhavnagar Division, to replace PI stations with EI and MSDAC, to be executed in 730 days.^[10]
Earlier, Alcon won a ₹21.21 Cr Western Railway electronic interlocking contract in the Ahmedabad Division.^[11]
16 Sep 2026: NCLT approved the amalgamation of Alcon Builders and Engineers and Jogbani Highway Private Limited into GPT Infraprojects.^[12]
The new West Bengal government announced connectivity projects of over ₹2,100 Cr, including the ₹1,200 Cr Bhagirathi Bridge and the ₹900 Cr Chingrighata - New Town Corridor, which fall within GPT's bidding scope.^[5]

Market Cap

₹1,434 Cr

High / Low

₹150 / 96

Stock P/E

14.6

Price / Book

2.4

Book Value

₹48

EPS

₹7.7

No. of Shares

12.64 Cr

ROCE

21.2%

ROE

17.3%

OPM

12.5%

Debt / Equity

0.49

Sales

₹1,290 Cr

Net Profit

₹97 Cr

Promoter holding

69.4%

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GPT Infraprojects Ltd(GPTINFRA)

About

Business segments

Order book and inflows

Key operating numbers

Operations and manufacturing

Customers

Expansion and new verticals

Recent developments

Signal history

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