Telge Projects Ltd

BSE: 544544

₹ 202.2-4.98%refreshed 26 Oct, 11:41 am ISTMarket cap: ₹ 198 crWebsite: telgeprojects.com/Updated: 24 Oct 2026

About

Telge Projects provides engineering design and detailing services for the construction industry, mainly steel detailing and BIM, delivered from offices in Pune, Latur and Nashik for clients largely in the US. FY26 revenue was Rs 40.21 Cr. In March 2026 it acquired US-based Edward Farr Architects, adding architectural and interior design services.^[1][2][3]

Services and revenue mix

Steel detailing made up 84% of revenue (Rs 14.06 Cr) in H1 FY26.^[3]
The Edward Farr Architects acquisition in March 2026 added architectural and interior design to the company's structural and BIM services.^[2]
The company's software tools include Tekla Structures, SDS2 and Revit, plus custom AI automation that uses Claude (Anthropic) to cut down repetitive work, as of FY26.^[2]
An in-house R&D team of 5 people was building Tekla/SDS2 automation tools, AI-driven BIM dashboards and plugins as of H1 FY26.^[3]

Order book and pipeline

The active order book was about Rs 25 Cr at Q4 FY26, compared with Rs 10.4 Cr of confirmed orders at H1 FY26.^[2][3]
About 80% of the Q4 FY26 order book came from the US, and about Rs 10 Cr of it came from architectural work at Edward Farr.^[2]
A further Rs 6 Cr of work was at the RFQ/bidding stage in Q4 FY26.^[2]
Management said in H1 FY26 that it could execute Rs 4.5-5 Cr of work per month.^[3]

Customers and markets

The company had 96 clients in FY26, up from 80 in H1 FY26 and 53 before that. All 20 new clients added in Q4 FY26 were from the US.^[2][3]
Existing clients provided 60-70% of revenue in FY26.^[2]
In H1 FY26 the USA contributed Rs 12.47 Cr of revenue (74%), Australia Rs 1.47 Cr and Latvia Rs 0.73 Cr.^[3]

Operations and people

Headcount was 200-250 at Q4 FY26, about 70 more than a year earlier. Around 25 staff were in the US and the rest in Pune, Latur and Nashik.^[2]
The Nashik office started operating during FY26.^[2]
Employee attrition in India was about 10% in FY26.^[2]
Employee cost was 46% of revenue in H1 FY26, compared with 30% in H2 FY25, because the company hired and trained staff ahead of demand.^[3]

Acquisitions and expansion

Edward Farr Architects (US) was acquired in March 2026 at 2.5x EBITDA. It had Rs 14 Cr of turnover in calendar year 2025.^[2]
The company earlier acquired Midwest Detailing and Draftco Inc. in the United States.^[3]
As of Q4 FY26 the company was looking at MEP (mechanical, electrical, plumbing) acquisition targets, with no deal identified, and was considering Canada, New Zealand and Southeast Asia.^[2]
As of Q4 FY26 the company was targeting project ticket sizes of Rs 8-10 Cr, up from Rs 2-3 Cr, and billing rates of $45-60/hr, up from $25-35/hr.^[2]
As of Q4 FY26, Rs 5 Cr of IPO proceeds had been redirected to acquisitions.^[2]

Recent developments

On 28 Sep 2026 the board approved a preferential issue of up to 5,67,686 convertible warrants at Rs 229 each, raising about Rs 13,00,00,094.^[4][5]
On 28 Sep 2026 the board also approved raising authorised share capital from Rs 10 crore to Rs 15 crore. An EGM was set for 23 Oct 2026 to vote on the warrant issue.^[4]

Market Cap

₹198 Cr

High / Low

₹284 / 77

Stock P/E

35.1

Price / Book

5.0

Book Value

₹43

EPS

₹6.1

No. of Shares

0.98 Cr

ROCE

16.8%

ROE

13.9%

OPM

21.6%

Debt / Equity

0.23

Sales

₹40 Cr

Net Profit

₹6 Cr

Promoter holding

72.8%

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