GMR Power and Urban Infra Ltd · NSE:GMRP&UI
GMR Power and Urban Infra — Q2 FY27 Earnings Presentation
40 slides from GMR Power and Urban Infra's earnings presentation, Oct 30, 2026
Slide 1: Exchange cover letter for investor presentation
October 30, 2026 BSE Limited, National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex, Bandra (E) Mumbai 400001 Mumbai - 400051 Scrip: 543490 Symbol: GMRP&UI Dear Sir/Madam, Sub: Investor Presentation Ref: Disclosure
Slide 2: GMR Power and Urban Infra Ltd. Investor Presentation – Q2FY27
GMR Power and Urban Infra Ltd. (GPUIL) Investor Presentation – Q2FY27 Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality 0
Slide 3: Disclaimer
DISCLAIMER All statements, graphics, data, tables, charts, logos, names, figures and all other statements relating to future results of operation, financial condition, business information (“Contents”) contained in this document (“Material”) is prepared by GMR prospects, plans and objectives, are ba
Slide 4: Table of Contents
Table of Contents Particulars Pg. No. Overview 3–4 Key Business Highlights 5 Financial Performance 6 – 11 - Energy Business 12 – 14 - Smart Metering Business 15 – 16 - Transportation and Urban Infrastructure Business 17 – 21 Strategy and Way Forward 22 – 25 ESG Practices 26 – 29 Annexures 31 – 38 Hu
Slide 5: Snapshot of Existing Businesses
Snapshot of Existing Businesses Energy Smart Metering Highways & EPC Urban Infra 2 Thermal Power Plants Advanced 1 Annuity Project1 Special • Operational : 1,650 MW Metering • 30 kms Investment • Under-development : 350 MW Infrastructure Region (SIR) Project • ~367 acres in 1 Toll Project • 7.57 Mn
Slide 6: Corporate Structure
Corporate Structure (as of 30 Sep’26) GMR Power and Urban Infra Ltd. (GPUIL) 100% 100% 100%2 100% 100% 100% Special Investment GMR Energy Other Energy Assets GMR Highways Ltd. Region Operational Projects Stake Operational Projects Stake Annuity Projects Stake Strategic Land Parcel Stake Warora Plant
Slide 7: Key Business Highlights
Key Business Highlights ▪ Smart Meter: Installed ~42 lakh smart meters across all project areas as of 30 Sep’26 Operational ▪ Energy: Achieved PLF of 69% and 77% in Warora and Kamalanga respectively in Q2FY27, impacted on account of shut down due to overhauling of units against an All India Private
Slide 8: Performance Highlights
PERFORMANCE HIGHLIGHTS Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 9: GPUIL Performance Highlights – Q2FY27
GPUIL Performance Highlights – Q2FY27 Consolidated Financials Total Income ▪ Total Income • Q2FY27:▼17% YoY; ▼9% QoQ to INR 15.9bn ➢ YoY and QoQ decrease due to o Energy segment revenue (INR 13.0bn in Q2FY27 vs INR 13.8bn in Q1FY27 and INR 15.0bn in Q2FY26) ▪ Other income declined YoY due to reducti
Slide 10: GPUIL Operational Performance Highlights
GPUIL Operational Performance Highlights Energy - PLFs Q2FY2026 Q1FY2027 Q2FY2027 H1FY2026 H1FY2027 Warora 73% 90% 69% 80% 80% Kamalanga 81% 87% 77% 86% 82% Highways – Avg. Daily Traffic ('000) Q2FY2026 Q1FY2027 Q2FY2027 H1FY2026 H1FY2027 Ambala - Chandigarh 38.4 43.5 40.7 39.7 42.1 Q2FY27 Consolida
Slide 11: Key Energy Assets - Operational & Financial Highlights YoY
Key Energy Assets - Operational & Financial Highlights YoY (figures in INR mn) Kamalanga Warora Solar Particulars Q2FY2026 Q2FY2027 Q2FY2026 Q2FY2027 Q2FY2026 Q2FY2027 Revenue 6,586 6,151 4,100 4,163 54 67 Other Income 605 255 308 105 24 26 Total Income 7,190 6,405 4,407 4,268 78 94 EBITDA 2,678 2,3
Slide 12: GPUIL Consolidated Debt
GPUIL Consolidated Debt Gross & Net Debt Net Debt (Sector-wise)^ (in INR bn) ^ Net Debt (INR bn) Q2FY2027 Energy Assets 35.0 Energy Holdco 17.2 23 Energy Segment 52.2 Smart Meter 15.3 Highway Assets 3.2 Highway Holdco 3.2 Highway Segment 6.5 Corporate 13.0 SEZ 2.4 ▪ Gross Debt decreased by INR 1.5bn
Slide 13: GPUIL Proforma Debt
GPUIL Proforma Debt Significant reduction in Net Debt (incl. JVs) over last 4 years Divested 30% equity stake in PT Golden Energy Mines Tbk Proforma Net Det ex. Bajoli Holi and GREL Bajoli Holi + GREL Proforma Net Debt / LTM EBITDA Rajahmundry OTS & Hyderabad – Vijayawada Divestment of Bajoli Holi,
Slide 14: Energy Business
ENERGY BUSINESS Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 15: Key Developments – Energy Business: Kamalanga
Key Developments – Energy Business Kamalanga Power Project Q2FY27 H1FY27 ▪ Total Income ▼10.9% YoY to INR 6.4bn ▪ Total Income – ▼11% YoY to INR 13.3bn ▼6.6% YoY to INR 6.2bn (excl. other income) ▼6% YoY to INR 12.8bn (excl. other income) • PLF at 77% due to overhauling of Unit 1 & 2 during the quar
Slide 16: Key Developments – Energy Business: Warora
Key Developments – Energy Business Warora Power Project Q2FY27 H1FY27 ▪ Total Income – ▼3.2% YoY to INR 4.3bn ▪ Total Income – INR 9.2bn; ▼0.5% YoY ▲1.5% YoY to INR 4.2bn (excl. other income) ▲2% YoY to INR 9.0bn (excl. other income) • PLF at 69% vs. 90% in Q1FY27 and 73% in Q2FY26 due to • PLF stab
Slide 17: Smart Meter Business
SMART METER BUSINESS Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 18: Smart Metering Business - Overview
Smart Metering Business - Overview GMR Smart Electricity Distribution Private Limited, a subsidiary of GPUIL, is implementing Advanced Metering Infrastructure (AMI) Project granted by two UP Discoms 7.57 Mn ~INR 75.9bn 22 Districts ~4.2 Mn Smart Meters Smart Meters Contract Value (incl. GST) across
Slide 19: Transportation & Urban Infrastructure Business
TRANSPORTATION & URBAN INFRASTRUCTURE BUSINESS (T&UI) Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 20: Highway Assets Key Updates
Highway Assets Key Updates Ambala Chandigarh Project – Updates ▪ Claim against reduction in traffic due to diversion on alternate routes • NHAI has filed Special Leave Petition (SLP) in Supreme Court challenging Delhi High Court Judgement on referring the entire dispute to denovo arbitration • Denov
Slide 21: Highway Assets – Financial Performance
Highway Assets – Financial Performance (figures in INR mn) Ambala - Chandigarh Pochanpalli Chennai ORR Particulars Q2FY2026 Q2FY2027 Q2FY2026 Q2FY2027 Q2FY2026 Q2FY2027 Total Income 230 257 205 425 220 184 EBITDA 148 128 116 121 67 129 Interest 70 49 58 39 158 121 PAT (56) (42) 41 56 (91) 7 Avg. Dai
Slide 22: Urban Infrastructure – Potential to Unlock Value
Urban Infrastructure – Potential to Unlock Value Krishnagiri Special Investment Region: ~367 acres^ ▪ ~56 acres under discussion for sale to an agency of Tamil Nadu Govt. ▪ Next phase of development being planned for ~62 acres ▪ 20 acres leased to Industrial Client ▪ Industrial cluster catering to e
Slide 23: EPC Division - Dedicated Freight Corridor Project
EPC Division - Dedicated Freight Corridor Project GMR’s Scope and Highlights Current Status • GMR along with JV partner has been awarded contract to • Project completed and handed over to DFCCIL construct a part of the DFC Eastern Corridor of ~450 km • Construction of all sections complete and secti
Slide 24: Strategy and Way Forward
STRATEGY AND WAY FORWARD Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 25: Establishing the Foundation for GPUIL 2.0
Establishing the Foundation for GPUIL 2.0 GPUIL 2.0 GPUIL: Earlier Immediate Focus Future Focus Smart Metering Renewable Energy Focus on C&I and Smart Mobility Conventional Energy ✓ Hybrid / FDRE supply Conventional Energy T & UI Highways and EPC + adjacent businesses like Explore Suitable Urban Inf
Slide 26: GPUIL 2.0
GPUIL 2.0 Solutioning across the GENERATION DISTRIBUTION CONSUMPTION end-to-end value chain Conventional & RE Smart Distribution Smart Mobility Adjacencies Conventional • Smart metering • EV fleet and energy • Energy efficiency • Brownfield expansion – • Distribution licensee/ replenishment solution
Slide 27: Clearly Defined Strategies to Capitalize on Industry Prospects
Clearly Defined Strategies to Capitalize on the Attractive Industry Prospects ▪ Maintaining high operational efficiencies in existing energy assets ▪ Focus on implementation of Smart metering business as well as participating in the upcoming smart metering opportunities Energy ▪ Refinancing initiati
Slide 28: ESG Practices
ESG PRACTICES Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 29: GWEL – India's First Mineral Carbonation Carbon Capture
GWEL – India’s First Mineral Carbonation Carbon Capture GMR Warora Energy Limited (GWEL) has commissioned India’s first Mineral Carbonation-Based Carbon Capture System at an operational thermal power plant. • The system: 2 TPD Net Zero Machine installed at the plant • How it works: Captures CO2 from
Slide 30: Environment – Energy, Water and Greening
Environment – Energy, Water and Greening CII National Award for Excellence GWEL – Runner-Up at the TERI GKEL – 345 kW rooftop solar in Energy Efficiency Management Water Sustainability Awards GWEL – 1,100 saplings planted commissioned 2026 2025-26 • GKEL and GWEL received • GWEL was honoured as • GK
Slide 31: Social – Livelihoods, Community Care and Safety
Social – Livelihoods, Community Care and Safety Climate-resilient agriculture at Blood donation camp at National Electrical Safety Week Flood relief for families in Odisha Kamalanga Kamalanga 2026 • Soil testing drive for 150 farmers • GKEL flagged off relief vehicles • Organised with the District •
Slide 32: Thank You
Thank You For further information, please visit Website: www.gmrpowerurbaninfra.com or Contact: GPUIL-IR@gmrgroup.in Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 33: Annexures
ANNEXURES Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 34: Annexures
Annexures Particulars No. Profitability Statement (Consolidated) A Financial Performance ▪ Energy Sector (Consolidated) B ▪ Warora (Standalone) C ▪ Kamalanga (Standalone) D ▪ Highways Sector (Consolidated) E ▪ Smart Meter (IND AS Consolidated and Proforma* - Operating Asset Accounting) F Note Some t
Slide 35: Annexure A : GPUIL (Consolidated)
Annexure A : GPUIL (Consolidated) INR mn Particulars Q2FY2026 Q1FY2027 Q2FY2027 H1FY2026 H1FY2027 Revenue 18,104 17,052 15,275 34,588 32,326 Other Income 1,117 440 633 2,279 1,054 Total Income 19,220 17,492 15,907 36,867 33,381 Total Expenditure 14,469 12,517 11,758 26,914 24,256 EBITDA 4,751 4,975
Slide 36: Annexure B : Energy Business (Consolidated)
Annexure B : Energy Business (Consolidated) INR mn Particulars Q2FY2026 Q1FY2027 Q2FY2027 H1FY2026 H1FY2027 Revenue 14,085 13,550 12,844 27,584 26,395 Other Income 945 303 202 1,953 505 Total Income 15,030 13,854 13,046 29,537 26,900 Operating Expenditure 10,871 9,264 9,456 20,743 18,720 EBITDA 4,15
Slide 37: Annexure C : Warora (Standalone) Power Plant
Annexure C : Warora (Standalone) Power Plant INR mn Particulars Q2FY2026 Q1FY2027 Q2FY2027 H1FY2026 H1FY2027 Revenue 4,100 4,833 4,163 8,851 8,996 Other Income 308 113 105 406 218 Total Income 4,407 4,947 4,268 9,257 9,214 Fuel - Consumption 2,354 2,456 2,267 5,064 4,723 Other Expenses 666 643 703 1
Slide 38: Annexure D : Kamalanga (Standalone) Power Plant
Annexure D : Kamalanga (Standalone) Power Plant INR mn Particulars Q2FY2026 Q1FY2027 Q2FY2027 H1FY2026 H1FY2027 Revenue 6,586 6,690 6,151 13,623 12,841 Other Income 605 227 255 1,326 482 Total Income 7,190 6,917 6,405 14,949 13,323 Fuel - Consumption 3,265 3,161 2,655 6,765 5,816 Other Expenses 1,24
Slide 39: Annexure E : Highway Business (Consolidated)
Annexure E : Highway Business (Consolidated) INR mn Particulars Q2FY2026 Q1FY2027 Q2FY2027 H1FY2026 H1FY2027 Revenue 523 570 706 1,052 1,277 Other Income 106 86 68 175 154 Total Income 629 656 774 1,227 1,430 Less: Revenue Share 0 0 0 0 0 Net Income 629 656 774 1,227 1,430 Operating Expenditure 322
Slide 40: Annexure F : Smart Meter
Annexure F : Smart Meter1 IND AS - Consolidated Proforma* - Operating Asset Accounting INR mn INR mn Particulars Q2FY2026 Q1FY2027 Q2FY2027 H1FY2026 H1FY2027 Particulars Q1FY2027 Q2FY2027 H1FY2027 Revenue 2,889 2,245 1,120 4,724 3,365 Revenue 874 653 1,528 Other Income 11 31 27 25 58 Other Income 22
GMR Power and Urban Infra — Q2 FY27 Earnings Presentation on 6ix