GPT Infraprojects Limited is an India-based company principally engaged in construction activities for infrastructure projects and the concrete sleeper manufacturing business. The Company specializes in turnkey construction projects for railway bridges, riverine bridges on deep-pile or pile foundations, heavy-duty concrete pavements for airports, and elevated metro and light rail systems. GPT Infraprojects Limited was incorporated in 1980 and is headquartered in Kolkata, India.
As the flagship company of the GPT Group, GPT Infraprojects carries out civil and infrastructure projects and manufactures railway concrete sleepers. The Company has deepened its specialization in infrastructure projects related to railways, roads, power, and industrial sectors.
GPT Infraprojects operates through two main segments: Infrastructure and Concrete Sleeper. The Infrastructure segment consists of the execution of construction contracts and other infrastructure activities. The Concrete Sleepers segment consists of manufacturing concrete sleepers.
The company's infrastructure division has shown remarkable growth, with the Infrastructure segment accounting for 95% of revenue in 9M FY25 compared to 85% in FY22. The segment revenue grew by 61% between FY22-FY24, led by higher execution of large contracts. In the roads and highways sector, it builds railway and riverine bridges, airport pavements, and metro systems. It also undertakes industrial projects like railway sidings and merry-go-round railways.
The concrete sleeper operations have a significant international presence, with operations spread across four countries, namely India, South Africa, Namibia, and Ghana. The Company's manufacturing units are located in Panagarh (West Bengal), Ladysmith (South Africa), and Tsumeb (Namibia).
GPT Infraprojects has demonstrated strong financial performance in recent quarters. GPT Infraprojects Ltd's net profit jumped 43.66% since the last year's same period to ₹21.42 crore in Q3 FY2024-25. For Q2 FY2025, the company achieved consolidated revenue from operations of ₹287.5 crore, marking a 23.6% increase compared to the same period last year.
The company has a market capitalization of ₹1,478.21 crore as of May 9, 2025. Promoter holding stands at 69.2%, indicating strong promoter confidence in the company's prospects. However, promoters have pledged or encumbered 50.9% of their holding.
• Q3 FY2024-25 Performance: Net Profit of ₹21.42 crore (up 43.66% YoY), Revenue from Operations of ₹278.08 crore (up 9.6% YoY)
• Q2 FY2024-25 Performance: Consolidated Revenue from Operations of ₹287.5 crore (up 23.6% YoY), Consolidated EBITDA of ₹33.3 crore (up 2.8% YoY) with 11.5% margin, Consolidated PAT of ₹17.6 crore (up 30.4% YoY) with 6.1% margin.
• Overall Financials: Revenue: ₹1,188 Crore, Profit: ₹74.0 Crore
• Market Capitalization: ₹1,478.21 crore (as of May 9, 2025)
• Promoter Holding: 69.2% (with 50.9% pledged)
• Profit Growth: 42.0% CAGR over the last 5 years
• Dividend Payout: 41.3%
The company has secured significant contracts recently, strengthening its order book. GPT Infraprojects has received a significant ₹481.11 crore order from South Eastern Railway for constructing a bridge and upgrading Kolaghat Station, boosting its order book to ₹3,814 crore. This substantial order demonstrates the company's competitive position in the railway infrastructure space.
With a strong order book of ₹3,610 crore and a focus on infrastructure projects, management is optimistic about securing new orders despite challenges in execution.
The company has been expanding its manufacturing capabilities strategically. Being a market leader in steel bridges for railways and highways, the new facility will provide the company considerable cost advantage, allowing it to substantially increase its capacity in the segment and enlarge its client base to railways, NHAI, MORTH, and other customers. Sufficient infrastructure provision has been kept to enhance the final capacity to 25,000 MTPA over a period of 2 years. The upcoming production at the Ghana factory is also expected to further drive revenue.
The company has shown improvement in its financial position through strategic debt management. It reduced its net debt by approximately ₹95 crore, further strengthening its financial position. During the first half of FY2025, GPT Infraprojects successfully raised ₹175 crore through a Qualified Institutional Placement (QIP) in August 2024, primarily to repay borrowings, which has been fully utilized to enhance financial flexibility. The company has reduced debt and delivered good profit growth while maintaining a healthy dividend payout.
GPT Infraprojects demonstrated robust operational performance, achieving significant revenue growth and maintaining an EBITDA margin around 13%, while targeting a 20% to 25% growth for the fiscal year. The company is well-positioned to capitalize on India's infrastructure development plans, particularly in the railway sector, while maintaining its international presence through concrete sleeper manufacturing operations across multiple countries.
