Vvip Infratech Ltd

BSE: 544219

₹ 129.1-5.90%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 322 crWebsite: www.vvipinfra.comUpdated: 24 Oct 2026

About

Vvip Infratech Ltd is a Ghaziabad-based company operating across two segments: EPC infrastructure (water supply, sewage treatment, and electrical distribution projects) and residential real estate development under the VVIP brand in the NCR region. In FY26 the company reported consolidated revenue of ₹346.49 crore and PAT of ₹42.66 crore. The EPC segment contributed 60.6% of FY26 consolidated revenue and the real estate segment the remaining 39.4%.^[1][2]

Business segments

Contractor (EPC infrastructure): ₹263.58 Cr revenue, 60.6% of consolidated revenue, EBIT margin 14.3% in FY26.^[2]
Real Estate: ₹171.4 Cr revenue, 39.4% of consolidated revenue, EBIT margin 20.1% in FY26.^[2]

EPC order book and project mix

EPC order book stood at ₹756 Cr as at 31 March 2026, split across STP & sewerage (₹349 Cr), water supply (₹204 Cr), and electrical distribution (₹204 Cr).^[3]
Including the ₹81 Cr Bhadohi STP letter of award, the effective order book rose to ₹837 Cr as at FY26 end, providing 2 - 3 years of revenue visibility.^[3]
As at Q2 FY27, management described the order book as approximately ₹1,000 crore, reflecting continued inflows across STP, sewerage network, and electrical distribution.^[4]
Current STP qualification ceiling is 80 MLD; completing the Haryana 60 MLD project will raise this threshold, enabling bids on larger tenders.^[4]

Real estate portfolio

VVIP Namah (Ghaziabad): ₹352 Cr booked (~77% sold), ₹280 Cr collected as at FY26; Phase 1 (~296 units) progressing toward possession.^[3][4]
VVIP Addresses (Greater Noida West): ₹409 Cr booked of ₹1,200 Cr projected sale value, ₹118 Cr collected as at FY26.^[3][5]
VVIP Yamuna (Sector 22D, Yamuna Expressway): launched February 2026 with 484 residential units and 18 commercial shops; ₹395 Cr booked, ₹60 Cr collected as at FY26.^[3][4]
Total real estate bookings across three live projects reached ₹1,156 Cr with combined collections of ₹458 Cr as at FY26.^[3]

Key operating numbers

Standalone EBITDA margin: 14.2% in FY26 vs 14.4% in FY25, despite a 5.9% YoY decline in standalone revenue to ₹260.64 Cr, attributed to Jal Jeevan Mission slowdown.^[3]
Consolidated EBITDA margin: 20.6% in FY26 vs 21.1% in FY25, driven by operating leverage in infrastructure and improved real estate project margins.^[3]
Standalone debtor days: 114 days as at FY25.^[3]

Geography and customers

Core EPC markets are Uttar Pradesh and Uttarakhand; the company is selectively expanding into Madhya Pradesh, Rajasthan, Haryana, and Delhi.^[6][5]
In Q2 FY27 the company received STP tenders in Bhadohi (40 MLD) and Ambala, Haryana (70 MLD), and is pursuing a ₹198 Cr sewerage network tender in Delhi.^[4]

Expansion and pipeline

Madhuban-Bapudham Phase-2 (~11 lakh sq ft, ₹800 Cr projected revenue): land acquired with ₹37 Cr of ₹150 Cr paid as at FY26; launch targeted within 6 - 7 months of statutory approvals.^[3]
VVIP Namah Phase-2 at Aditya World City (~5 lakh sq ft, ₹450 Cr projected revenue): acquired via NCLT/IBC process; launch targeted December 2026.^[3]
GDA land parcel in Ghaziabad acquired in Q2 FY27 comprising approximately 137 commercial and 622 residential units, adding to the development pipeline.^[4]
Standalone EPC revenue guided at 50 - 55% growth in FY27 off the low FY26 base, anchored by the ₹837 Cr effective order book.^[3]

Recent developments

FY26 consolidated borrowings nearly doubled to ₹190.73 Cr (from ₹96.2 Cr in FY25), driven by long-term borrowings rising from ₹61.75 Cr to ₹139.1 Cr to fund real estate land acquisition and construction.^[3]
FY26 free cash flow was negative because the bulk of FY26 revenue was earned in Q4 and cash collected in Q1 FY27; management expects cash flow to normalise in FY27.^[4]
Shareholders approved a QIP of up to ₹100 Cr and an increase in authorised share capital from ₹25 Cr to ₹35 Cr to support growth and capital raising.^[5][7]

Market Cap

₹322 Cr

High / Low

₹166 / 92

Stock P/E

10.7

Price / Book

1.6

Book Value

₹92

EPS

₹12.0

No. of Shares

2.5 Cr

ROCE

18.9%

ROE

12.6%

OPM

20.7%

Debt / Equity

0.83

Sales

₹346 Cr

Net Profit

₹43 Cr

Promoter holding

68.6%

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