Infra stock jumps 13% after receiving ₹1,804 Cr order from Municipal Corporation of Greater Mumbai

Synopsis: This small-cap infra stock jumped 13% as it has secured an Rs 1,804.48 crore flyover contract from MCGM for Mumbai’s LBS Marg, strengthening its presence in urban road infrastructure. The project will be executed over 36 months through a JV, with GPT’s share at Rs 469.16 crore. 

The shares of this company, which is a construction company engaged in executing civil and infrastructure projects. It also manufactures concrete sleepers for railways, had its shares in focus after the bagging order from the Municipal Corporation of Greater Mumbai to build a flyover along LBS Marg, linking Kurla with Ghatkopar West in Mumbai’s eastern suburbs.

The order lifts the company’s order book to Rs 3,861 crore, improving revenue visibility over the next three years and reinforcing its execution capabilities in large civil infrastructure projects.

With the market cap of Rs 1,401 crore, the shares of GPT Infraprojects Ltd had hit their intraday high at Rs 121.30, gaining about 13 per cent compared to their previous day’s closing price of Rs 107.05. The shares are trading at a PE of 15.4, whereas their industry PE is at 18.8, and have given a return of 1,072% over the last 5 years. 

About the order

GPT Infraprojects has won a major Rs 1,804.48 crore contract from the Municipal Corporation of Greater Mumbai (MCGM) to build a flyover along LBS Marg, linking Kurla with Ghatkopar West in Mumbai’s eastern suburbs. This is a key urban infrastructure project aimed at easing traffic congestion in one of the city’s busiest corridors, and it highlights GPT’s ability to execute complex projects in highly congested urban environments.

The project will be carried out over 36 months (excluding monsoons) and will be executed through a joint venture, with GPT Infraprojects holding a 26% share, translating to Rs 469.16 crore of the total contract value. The JV structure helps the company balance scale with risk, allowing participation in a large project without overextending capital. The order is domestic, awarded on an arm’s-length basis, and involves no promoter or related-party interest, providing comfort on governance.

From a business standpoint, this order strengthens GPT Infraprojects’ order book to Rs 3,861 crore, with FY26 order inflows (including L1) at Rs 966 crore. It improves revenue visibility over the next three years and fits well with the company’s core strengths in roads, bridges, and large civil infrastructure works, further reinforcing its standing with municipal bodies and government agencies.

Financials and more

The revenue from operations for the company stands at Rs 279 crores in Q2 FY26 compared to Q2 FY25 revenue of Rs 288 crores, down by about 3 per cent YoY. However, the net profit stood at Rs 15 crore in Q2 FY25, whereas it grew to Rs 21 crore in Q2 FY26, giving a growth of about 40 per cent YoY. 

GPT Infraprojects, the flagship company of the GPT Group, is a well-established infrastructure player with a strong presence across both project execution and manufacturing. The company works across key sectors such as railways, roads, bridges, metros, power, and industrial infrastructure, while also manufacturing railway concrete sleepers through facilities spread across India, South Africa, Namibia, and Ghana. 

With capabilities ranging from bridge fabrication and highway construction to railway track and sleeper laying, GPT supports large government and public-sector projects, reinforcing its role as a dependable partner in India’s infrastructure and nation-building journey.

Written by Leon Mendonca.

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