Kalpataru Projects wins Rs 2,349 crore domestic orders, FY27 inflows top Rs 22,000 crore
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Kalpataru Projects International Limited, the Mumbai-based engineering, procurement and construction company, announced on Wednesday, 21 October 2026 that it had received new orders and award notifications worth approximately Rs 2,349 crore. The contracts are for domestic work across its power transmission and distribution and buildings and factories businesses, and were received in the normal course of business.
The announcement came with a further update on the company's year-to-date performance. Managing director and CEO Manish Mohnot said order inflows for FY27 have crossed Rs 22,000 crore so far. The filing was made to the stock exchanges and described the company as a leading EPC player in the power and infrastructure sector.
The orders and what they cover
The orders span two of the company's core verticals. The power transmission and distribution business, known within the group as T&D, and the buildings and factories business, referred to as B&F, each contribute to the Rs 2,349 crore total. All of the work falls under engineering, procurement and construction contracts, where the company designs, sources materials and builds the asset on behalf of the client.
Mohnot said the company continues to see robust growth across both verticals. He added that the new wins strengthen its position in India's infrastructure sector and reflect its EPC capabilities and record of executing projects on time and to specification. In his words, the orders reinforce the company's standing in an infrastructure landscape he described as fast-growing and high-potential.
The announcement does not break the order value down between the two verticals, and it does not name individual projects, clients or execution schedules.
A busy month for order inflows
The Rs 2,349 crore announcement follows an earlier update in October. On 13 October 2026, the company disclosed orders of about Rs 2,225 crore. Of that amount, around Rs 2,031 crore related to its power T&D business and covered domestic and international geographies. The balance of around Rs 194 crore came from an order received by its Swedish subsidiary, Linjemontage i Grästorp AB. The Swedish tranche covers foundation and civil works, control equipment, installation, testing and commissioning of a new 130 kV substation at Repbäcken in Borlänge, with the existing substation kept operational during construction and final inspection scheduled for 15 October 2029.
Mohnot had said on 13 October that the company had secured orders valued at approximately Rs 20,000 crore in the current financial year, a rise of more than 30 percent year on year. The latest announcement takes the FY27 tally beyond Rs 22,000 crore.
Financial performance and credit standing
The company reported its first quarter of FY27, the period ended June 2026, with revenue rising 4 percent year on year to Rs 6,408 crore. Profit after tax grew 46 percent to Rs 312 crore over the same period.
On 16 October 2026, CRISIL upgraded the company's long-term rating to AA+ with a Stable outlook and affirmed its A1+ short-term rating. The rating action was disclosed through the company's exchange filings.
The developer and its scale
Kalpataru Projects International Limited was incorporated on 23 April 1981 under the name H.T. It reported revenue of Rs 27,143 crore in FY26 and has more than 250 projects under way across more than 30 countries. Its work covers power transmission lines, water infrastructure, railways and urban buildings, with a presence in 75 countries.
It is worth separating the EPC company from the real estate business that shares the Kalpataru name. Kalpataru Limited is the real estate arm of the Kalpataru Group and is a separate listed company. The orders announced on 21 October belong to the EPC company and do not relate to any residential or commercial project.
For an EPC business, the order book is the main signal of future activity. Analysts commonly track how new wins convert into revenue, since the value of an order on its own does not show how quickly the work will be executed or what income it will generate. The continued growth in year-to-date inflows gives the company a larger pipeline to draw on in the quarters ahead.
What comes next
The company has not indicated specific execution timelines for the Rs 2,349 crore of orders announced on 21 October. Progress on these contracts will show up in later quarterly results, where revenue recognition from the new wins and the latest order inflow figures will be reported. Investors and industry observers will be watching how the T&D and B&F verticals convert the current pipeline, particularly as government focus on grid upgrades and urban infrastructure continues to shape demand in India's power and construction markets.