Dilip Buildcon Ltd. · NSE:DBL
Dilip Buildcon — Q3 FY26 Earnings Presentation
47 slides from Dilip Buildcon's earnings presentation, Feb 10, 2026
Slide 1: Letter to BSE and NSE on Investor Presentation
February 10, 2026 To To BSE Limited National Stock Exchange of India Ltd. Listing Department Exchange Plaza, C-1, Block G P.J Tower, Dalal Street BandraKurla Complex, Mumbai – 400001 Bandra (E), Mumbai – 400051 Stock Symbol -540047 Stock Symbol –DBL Sub: -Investor Presentation Pursuant to regulation
Slide 2: Earnings Presentation Q3 & 9M-FY26
DILIP BUILDCON LIMITED EARNINGS PRESENTATION Q3 & 9M- FY26 Roads & Highways Irrigation Mining Water Supply Tunnel Special Bridge & Urban Renewable Energy & Optical Fiber Metro & Railways Airport Development Transmission
Slide 3: Table of Content
Table of Content Business Highlights 03 Financial Highlights – Standalone and Consolidated 13 Building Long-Term Value Asset Platform 23 Equity and Divestment Tracker 28 Strategic Partnership 30 Key Projects Update 32 Company Overview 38
Slide 4: Business Highlights
DILIP BUILDCON LIMITED INFRASTRUCTURE & BEYOND Business Highlights
Slide 5: Business Highlights
Business Highlights WON 10 NEW PROJECTS ALPHA DIVESTMENT COMPLETED 4 PROJECTS WORTH ₹ 17,565 Cr STATUS WORTH ₹ 2,744 Cr Won 2 HAM worth ₹ 2,734 Cr in the Completed 3 HAM projects worth 26% equity stake divested in 7 state of Rajasthan & Tamil Nadu. ₹ 2,422 Cr HAM projects. and 8 EPC projects worth ₹
Slide 6: New Projects Won in YTD FY26
New Projects Won in YTD FY26 (₹ in Cr.) Contract Value Period in which Project Name Type State Name of the Clients excluding GST order won Construction of Feeder from Isarda to Khura Chainpura to Bandh Rajasthan Water Grid HAM Rajasthan 2,034 Q2, FY26 Baretha Bharatpur. Corporation Limited Construct
Slide 7: Projects Completed in YTD FY26
Projects Completed in YTD FY26 (₹ in Cr.) Name of EPC Cost Scheduled COD with Actual/ Provisional Project Name State Type of Work the Clients excluding GST EOT Completion Date National Highways Raipur-Visakhapatnam CG-2 Chhattisgarh HAM 925 08.04.2025 08.04.2025 Authority of India Highways Limited B
Slide 8: Order Book – As on date
Order Book – As on date (₹ in Cr) Vertical Wise Model Wise Optical fibre, Transmission, 868 , 3% HAM, 14% 1,850 , 6% Road & Highways, 5,689 , (19%) Renewable Energy, 5,179 , (18%) Irrigation, Special Bridge & 4,705 , (16%) Urban Development, 1,717 , (6%) Tunnel, Water Supply, 1,757 , (6%) 438 , (2%)
Slide 9: Order Book - As on date
Order Book - As on date Business Division wise order book – ₹ 29,372 Cr. MINING ROAD & HIGHWAYS RENEWABLE ENERGY IRRIGATION TRANSMISSION ₹ 5,849.90 ₹ 5,688.80 ₹ 5,179.00 ₹ 4,705.50 ₹ 1,850.00 19.92% 19.37% 17.63% 16.02% 6.30% | EARNINGS PRESENTATION Q3 FY26 | | www.dilipbuildcon.com | 8
Slide 10: Order Book - As on date
Order Book - As on date Business Division wise order book – ₹ 29,372 Cr. SPECIAL BRIDGE & TUNNEL METRO & RAILWAYS OPTICAL FIBRE WATER SUPPLY URBAN DEVELOPMENT ₹ 1,756.80 ₹ 1,717.70 ₹ 1,318.80 ₹ 867.70 ₹ 437.80 5.98% 5.85% 4.49% 2.95% 1.49% | EARNINGS PRESENTATION Q3 FY26 | | www.dilipbuildcon.com |
Slide 11: Order Book - Trend
Order Book - Trend (₹ in Cr) 29,372 25,595 25,395 18,610 17,432 14,923 13,695 FY22 FY23 FY24 FY25 Q1FY26 Q2FY26 Q3FY26 | EARNINGS PRESENTATION Q3 FY26 | | www.dilipbuildcon.com | 10
Slide 12: NHAI/MORTH-HAM Portfolio / PWD (Goa) – Observatory Tower
NHAI/MORTH-HAM Portfolio / PWD (Goa) – Observatory Tower (₹ in Cr.) Sr no. Particulars Bid Project Cost Remarks 19 HAM Projects: • Shrem Group/Shrem InvIT - 16 Projects -100% Divested • Cube Highways - 3 Projects -100% Divested 1 29 Completed HAM Projects 36,466 10 HAM Projects: • 7 HAM Projects - 1
Slide 13: Geography Wise Order Book
Geography Wise Order Book (₹ in Cr.) Gross Value of Completed as on Net Order Book % to Total Order State Ongoing Projects 31.12.2025 as on 31.12.2025 Book as on 31.12.2025 Madhya Pradesh 16,234 10,807 6,024 20.51% Odisha 1,288 4,344 4,751 16.17% Jammu & Kashmir, Bihar 1,143 3,400 3,400 11.58% 2.95%
Slide 14: Financial Highlights Standalone and Consolidated
Financial Highlights Standalone and Consolidated
Slide 15: Financial Highlights - Quarterly (Y-o-Y)
Financial Highlights- Quarterly (Y-o-Y) (₹ in Cr.) Revenue from operations EBITDA excl. other income Profit after tax -20.28% -14.76% 594.32% Standalone 2,155 1,718 210 179 88 611 Q3 FY25 Q3 FY26 Q3 FY25 Q3 FY26 Q3 FY25 Q3 FY26 Revenue from operations EBITDA excl. other income Profit after tax -17.4
Slide 16: Financial Highlights - Quarterly (Q-o-Q)
Financials Highlights- Quarterly (Q-o-Q) (₹ in Cr) Revenue from operations EBITDA excl. other income Profit after tax 21.24% 16.99% 1390.24% Standalone 1,417 1,718 153 179 41 611 Q2 FY26 Q3 FY26 Q2 FY26 Q3 FY26 Q2 FY26 Q3 FY26 Revenue from operations EBITDA excl. other income Profit after tax Consol
Slide 17: Financial Highlights - YTD FY26 (Y-o-Y)
Financials Highlights- YTD FY26 (Y-o-Y) (₹ in Cr) Revenue from operations EBITDA excl. other income Profit after tax -23.09% -22.91% 193.56% Standalone 6,690 5,145 694 535 264 775 9M, FY25 9M, FY26 9M, FY25 9M, FY26 9M, FY25 9M, FY26 Revenue from operations EBITDA excl. other income Profit after tax
Slide 18: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement (₹ in Cr.) Particulars Q3 FY26 Q3 FY25 Y-o-Y% Q2 FY26 Q-o-Q% 9M FY26 9M FY25 Y-o-Y% FY25 Revenue 1,718 2,155 -20.28% 1,417 21.24% 5,145 6,690 -23.09% 9,004 Less:- Operating expenses 1,539 1,945 -20.87% 1,264 21.76% 4,610 5,996 -23.12% 8,101 EBITDA excl. other incom
Slide 19: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement (₹ in Cr.) Particulars Q3 FY26 Q3 FY25 Y-o-Y% Q2 FY26 Q-o-Q% 9M FY26 9M FY25 Y-o-Y% FY25 Revenue 2,138 2,590 -17.45% 1,926 11.01% 6,684 8,221 -18.70% 11,317 Less:- Operating expenses 1,756 2,113 -16.90% 1,455 20.69% 5,311 6,731 -21.10% 9,166 EBITDA excl. other in
Slide 20: Standalone Balance Sheet
Standalone Balance Sheet (₹ in Cr.) Particulars Dec-25 Sep-25 Mar-25 Particulars Dec-25 Sep-25 Mar-25 ASSETS EQUITY AND LIABILITIES Non-current assets Equity (a) Property, plant and equipment 839 882 1,003 (a)Equity share capital 162 162 146 (b) Other Intangible Assets & CWIP - 0 0 (b) Other equity
Slide 21: Standalone Cash Flow
Standalone Cash Flow (₹ in Cr.) Particulars Q3 FY26 Q2 FY26 9M FY26 Particulars Q3 FY26 Q2 FY26 9M FY26 CASH FLOW FROM OPERATING ACTIVITIES CASH FLOW FROM INVESTING ACTIVITIES Net profit before tax as per Statement of Profit and Loss 649 65 869 Purchase of fixed assets & WIP (26) (5) (36) Adjustment
Slide 22: Quarterly - Working Capital Days
Quarterly - Working Capital Days 132 114 115 113 103 105 97 84 83 97 83 101 84 96 95 75 67 65 81 68 62 61 60 59 56 48 48 115 114 117 119 124 134 138 149 156 Dec'23 Mar'24 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 Sep'25 Dec'25 Debtor Days Inventory days Creditor Days Working Capital Days Working capital da
Slide 23: Quarterly – Net Debt to Equity ratio
Quarterly – Net Debt to Equity ratio (₹ in Cr.) 0.42 0.43 0.40 0.36 0.35 0.40 0.32 0.38 0.37 0.29 0.29 0.28 0.32 0.33 0.3 0.25 0.26 0.26 0.04 0.04 0.04 0.03 0.03 0.03 0.02 0.02 0.02 Dec'23 Mar'24 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 Sep'25 Dec'25 Net Debt/Equity Equipment Debt/Equity Working Capital D
Slide 24: Building Long-Term Value Asset Platform
Building Long-Term Value Asset Platform MINING BUSINESS RENEWABLE ENERGY TRANSMISSION BUSINESS BUSINESS Expansion into Coal and Entry into power Focus on solar & clean Bauxite extraction transmission energy projects projects infrastructure Stable annuity income & Ensuring strong Long Supporting grid
Slide 25: Mining - Business
Mining - Business Mining Business - ₹ 96,997 Cr* Mine Development and Operator (MDO) Block Name Concession tenure, Balance Peak Capacity & Production Quantity Contract Total Qty Value Pachhwara Central Coal Mine MDO (7 MMT PA) Contracted Actual/Planned Coal Reserves - 382.81 MMT Year Production Prod
Slide 26: MDO - Performance
MDO - Performance SIARMAL Particulars YTD FY26 Q3 FY26 Q2 FY26 Q1 FY26 FY 24-25 FY 23-24 OB Production (Mn BCM) 16.65 7.28 3.95 5.42 18.02 9.14 Coal Production (Mn MT) 15.11 7.01 4.40 3.70 18.53 7.24 Coal Dispatch (Mn MT) 14.98 5.24 5.02 4.72 16.42 5.94 PACHHWARA Particulars YTD FY26 Q3 FY26 Q2 FY26
Slide 27: Renewable Energy- Business (~2.1 GW)
Renewable Energy- Business (~2.1 GW ) Renewable Energy Business - ₹ 25,700 Cr* 100 MW 1,977 MW Key Features of Project Key Features of Project • LOADate-Oct-25 • LOADate-Dec-25 • Authority- MP Urja Vikas Nigam Ltd- • Authority- Madhya Pradesh Jal Nigam • Project Capacity AC – 1,363.55 MW • Project C
Slide 28: Transmission - Business
Transmission - Business Transmission Business - ₹ 11,600 Cr* Key Terms of Project • Tendering Authority - REC Power Development and Consultancy LTD • Project SPV- Mekhali Power Transmission Limited • Project Authority-”Power Company” of Karnataka Limited • Scope- Intra-state Transmission System for
Slide 29: Equity and Divestment Tracker
Equity and Divestment Tracker
Slide 30: Equity and Divestment Tracker
Equity and Divestment Tracker Equity Balance Equity Projected Investment Equity Investment SN Particulars Investment to be invested Upto Dec-25 Required till Completion Q4FY26 FY27 FY28 FY29 FY30 A HAM/BOT 11 Road HAM Projects 1,622 1,385 238 65 173 - - - 2 Road HAM Projects 184 44 141 6 50 58 27 -
Slide 31: Strategic Partnership
Cues AtrernaAtives —, DILIP BUILDCON LIMITED INFRASTRUCTURE & BEYOND OP) ANANTAM HIGHWAYS TRUST
Slide 32: DBL- AA Partnership – Anantam Highway Trust
DBL- AA Partnership – Anantam Highway Trust Anantam- After Setup Anantam, raises ₹ 400 Cr. from IPO with overall subscription of 5.62 times, where some marquee investors such as White Oak Capital, SBI Capital Market, Edelweiss Life Insurance & Reliance General Insurance has showed a strong respons
Slide 33: Key Projects Update
DILIP BUILDCON LIMITED INFRASTRUCTURE & BEYOND Key Projects Update
Slide 34: Key Project Progress – HAM Projects (NHAI)
Key Project Progress – HAM Projects (NHAI) Sr. % of work done as Project Name Model Payment Milestone (Grant) Achieved Appointed Date No on 31.12.2025 1 Raipur Visakhapatnam-CG-2 Highways Limited** HAM 10th PM, 90% Physical progress 09.01.2023 97.22 2 Sannur Bikarnakette Highways Limited HAM 7th PM,
Slide 35: Key Project Progress – HAM/BOT (Other than NHAI)
Key Project Progress – HAM/BOT (Other than NHAI) Sr. % of work done as Project Name Model Payment Milestone (Grant) Achieved Appointed Date No on 31.12.2025 1 DBL-ERCP Bandh Baretha Private Limited HAM - Awaited - 2 Construction of Observatory Towers and Viewing Galleries BOT - Awaited - | EARNINGS
Slide 36: Key Project Progress - EPC Projects
Key Project Progress - EPC Projects (₹ in Cr.) Metro & Railways Outstanding Order Book Schedule Date of Project Name Contract Value LOA Date Date of Start as on 31.12.2025 Completion with EOT Surat Metro Rail Project, Phase-1 (Package CS-6) 702 32 Oct-22 Oct-22 Mar-26 Ahmedabad Metro Rail Project, P
Slide 37: Key Project Progress - EPC Projects
Key Project Progress - EPC Projects (₹ in Cr.) Optical Fiber Outstanding Order Book Schedule Date of Project Name Contract Value LOA Date Date of Start as on 31.12.2025 Completion with EOT Development Of Middle mile and last mile network of Bharat Net on 964 868 Mar-25 Mar-25 Mar-28 DBOM Model – Pac
Slide 38: Key Project Progress - EPC Projects
Key Project Progress - EPC Projects (₹ in Cr.) Tunnel Outstanding Order Book as Schedule Date of Project Name Contract Value LOA Date Date of Start on 31.12.2025 Completion with EOT Rishikesh to Karnaprayag (Package 9) 1,192 424 Aug-20 Sep-20 Oct-26 Delhi Vadodara Greenfield Expressway (Package 15)
Slide 39: Company Overview
© DILIP BUILDCON LIMITED INFRASTRUCTURE & BEYOND Company Overview
Slide 40: DBL - Overview
DBL - Overview Pan India presence 20 Revenue growth 10 states & 1 Union Territory years CAGR of 13.00% Largest Early completion owner of construction bonus FY 2012 to 2025 equiptments 10,293 ₹ 580 Cr No subcontracting, Diversified order book vertically integrated of ₹ 29,372 Cr from 10 and use of te
Slide 41: DBL - Journey
DBL - Journey Dilip Suryavanshi, a First backward Converted to a private The Company continued Company expanded into young civil engineer integration by buying its limited company to fulfil its expansion pace, the Irrigation development started Dilip Builders as 1st stone crusher the growing ambitio
Slide 42: DBL - Journey
DBL - Journey Sold complete portfolio of Enters into Tunnels and Highest ever order Crossed Coal MDO- 24 road assets with an Metros segments. won and Largest Turnover of Rs. Production economic value of Rs. Revenue grows to more Order book. 10,000+ Cr. Crossed 25 10,500 Cr. making it the than 120%,
Slide 43: Backward Integration
Backward Integration To further support our in-house execution, we have setup our own manufacturing units, which make the highest quality road furniture / material needed for our business. It helps us control costs and timelines. Octagonal Poles Pipe Rolling Metal Beam Crash Barrier Road Marking Pai
Slide 44: Leadership Team
Leadership Team Mr. Dilip Suryavanshi Mr. Devendra Jain Chairman & MD MD & CEO Dilip Suryavanshi is the Chairman and Managing Director of our Company. Devendra Jain is a Managing Director and Chief Executive Officer of He holds a bachelor’s degree in civil engineering from the University of our Comp
Slide 45: Leadership Team
Leadership Team Bharat Singh Rohan Suryavanshi Karan Suryavanshi Sanjay Bansal President Head – Strategy & Planning Head – Business Development Chief Financial Officer Bharat Singh joined Dilip Builders Rohan Suryavanshi joined DBL in 2007. Karan Suryavanshi joined DBL in 2010. Sanjay Kumar Bansal,
Slide 46: Disclaimer
Disclaimer This presentation contains certain forward-looking statements concerning DBL future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward-looking statements. The ris
Slide 47: Thank You
Thank You Dilip Buildcon Limited Registered Office : Plot No. 5, Inside Govind Narayan Singh Gate, Chuna Bhatti, Kolar Road, Bhopal Madhya Pradesh - 462016