DBL / Q3-FY26 / claim-ledger

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Dilip Buildcon · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ3-FY26 · 2026-02-10Back to quarter ↗

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Vignesh Ayar · Sequent Investments

direct

Execution outlook given record order book of 29,300 cr

We are expecting around 10,000 crores of revenue in next financial year... 30 to 40% growth from this year's number to next year's financial performance.

Vignesh Ayar · Sequent Investments

direct

Will Q4 execution accelerate or only from next year?

No, not in this quarter... quarter 4 will be in line with the overall numbers... we expect to close our year end about 7,000 to 7,500 crores.

Vignesh Ayar · Sequent Investments

direct

Debt reduction target of 1,500 cr net debt by year-end?

No sir... we are expecting debt levels to remain around this level only given the muted execution... next year we are looking to reduce 7 to 800 crores.

Vignesh Ayar · Sequent Investments

direct

Reason for inventory days increase from 75 to 132

The inventory has not increased from 31st March 2025... revenue reduced significantly... denominator reduced... once execution increases, working capital days will decrease.

Shan Sha · Dollar Capital

direct

Margin outlook for FY27 and Q4

Quarter four will remain in line with this year... next year we are expecting increase in EBITDA level... in the range of 12 to 13%.

Shan Sha · Dollar Capital

direct

Order inflow target for next year and pipeline

We are targeting about 10 to 15,000 crores of orders... selective basis... there is about 15,000 crores of orders where we have bidded and about 70,000 crores pipeline of NHAI.

Shan Sha · Dollar Capital

direct

Capex plans for Q4 and next year

In quarter four we are not expecting any capex... next year also there might be replacement capex... in that 100 crores and lower range.

Shan Sha · Dollar Capital

direct

Tax on exceptional gain of 577 cr

The gains on account of slipping asset to invite and getting units is exempted under section 4717 of the Income Tax Act. So there is no income tax on the gains.

Shan Sha · Dollar Capital

direct

Breakdown of other income of 63 cr

In quarter 3 DBL there is 63 cr other income... 6.5 cr is FDR interest, around 14-15 cr from profit on sale of assets, and 42 cr on leasing income from SPVs.

Shan Sha · Dollar Capital

direct

Equity requirement for solar and transmission projects

Around 200 cr equity will be put in by DBL in both the projects and balance will be raised at the hold level as mezzanine debt.

Darika · AV Fen Corp

direct

Timeline for transfer of remaining assets to Anantam InvIT

NHAI approval could not receive for one project of ours and one project of alpha... Q1 of FY27 we are expecting three assets... and balance eight assets in Q4 of FY27.

Bavin Modi · Anand Rati

direct

Mobilization advance and debt not reducing

There has been no mobilization advance that has come from these projects... debt could not be reduced as we anticipated because of lower execution.