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Informist, Monday, Aug. 10, 2026

MUMBAI – Construction company H.G. Infra Engineering Ltd. is expected to report a sharp fall in its net profit for the June quarter due to higher raw material costs and elevated debt levels, according to brokerages tracking the company. The company's revenue is also likely to fall due to lower construction activity.

 

The company is expected to report a net profit of INR 662 million for the June quarter, according to the average of estimates from eight brokerages. This will be down 33% from INR 988 million in the year-ago quarter but up more than 94% sequentially from INR 340 million. The highest estimate for the company's net profit is INR 1.09 billion from Prabhudas Lilladher Pvt. Ltd. and the lowest is INR 343 million from SMIFS Ltd.

 

The company is expected to post revenues of INR 13.06 billion for the June quarter, down nearly 12% from INR 14.82 billion in the year-ago quarter, according to the average of estimates. The highest estimate for the company's revenue is INR 16.24 billion from Prabhudas Lilladher and the lowest is INR 10.60 billion from HDFC Securities Pvt. Ltd.

 

H.G. Infra's revenue is expected to fall due to lower construction, according to JM Financial Institutional Securities Pvt. Ltd. The company's order inflow is expected to remain under pressure due to continued lower orders from the National Highway Authority of India, the brokerage added. The company's net profit is likely to fall due to higher interest cost on elevated debt levels, JM Financial said. The company's total borrowings at the end of March 2026 were INR 49.34 billion, up more than 20% from INR 40.92 billion at the end of March 2025.

 

The company's earnings before interest, tax, depreciation, and amortisation are expected to be INR 1.64 billion for the June quarter, according to estimates. This will be 37% lower than INR 2.60 billion year ago. The highest estimate for the company's EBITDA is INR 2.19 billion from Prabhudas Lilladher and the lowest is from INR 1.30 billion from HDFC Securities.

 

In the infrastructure sector, the war in West Asia affected execution and profitability, HDFC Securities said. Elevated prices of commodities such as bitumen are likely to hit margins, the brokerage said. However, the brokerage added that the impact is "milder-than-estimated" and expects supply

chains to improve, though not to pre-war levels.

 

H.G. Infra is an engineering, procurement, and construction company specialising in highways, roads, railways, metro, and renewable energy. The company will detail its June quarter earnings Wednesday. Monday, shares of H.G. Infra closed at INR 553.95, up 1%, on the National Stock Exchange. The share price is down 5% since the company announced its March quarter earnings on May 28.

 

Of the nine research reports on the company available with Informist, eight have a "buy" recommendation on the stock with an average target price of INR 965.4 per share which is 74% higher than the closing price Monday. One has a "hold" recommendation at INR 610.

 

Following are the June quarter earnings estimates for H.G. Infra from eight brokerages in descending order of net profit, in INR million:

 

Brokerage name	Net sales	Net profit	EBITDA
Prabhudas Lilladher Pvt. Ltd.	16,238	1,091	2,192
Axis Securities Ltd.	12,990	820	1,680
PhillipCapital (India) Pvt. Ltd.	13,674	754	1,668
JM Financial Institutional Securities Pvt. Ltd.	12,750	747	1,763
Anand Rathi Share and Stock Brokers Ltd.	13,079	586	--
Elara Securities (India) Pvt. Ltd.	12,693	557	1,540
HDFC Securities Ltd.	10,600	400	1,300
SMIFS Ltd.	12,456	343	1,310
Average	13,060	662	1,636

 

End

 

Reported by Krupa Biju

Edited by Pankaj Aher

 

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