Infra stock soars 6% after announcing orderbook worth 800% more than its market cap

Synopsis:- The stock moved up 6% as investors focused on an order book of nearly ₹5,000 crore, about 9× its ₹582 crore market value. Projects are diversified across water (57%), railways (33%), and roads (10%), with presence in 11 states.

The shares of the infrastructure development company gained up to 6 percent in today’s trading session after the company maintained a robust order book of approximately Rs 5,000 crore, providing strong revenue visibility.

With a market capitalization of Rs 582.46 crore, the shares of Vishnu Prakash R Punglia Ltd were trading at Rs 46.73 per share, increasing around 1.02 percent as compared to the previous closing price of Rs 46.26 apiece.

Robust Order Book

Vishnu Prakash R Punglia Limited reported a robust order book of around  Rs 5,000 crore, offering strong revenue visibility. The company achieved a turnover of approximately  Rs 570 crore in the first half of the year and expects improved performance in the second half, supported by a well-diversified mix across water, railway, and road projects.

The order book remains balanced, with water supply projects forming 57%, railway projects 33%, and roads about 10%, reducing sector concentration risk. Management clarified that the Jaipur–Sawai Madhopur project termination, valued at ~ Rs 160 crore or just 3% of the order book, is sub-judice and not expected to materially impact financial or operational performance.

Financial and Other Highlights

Looking ahead, the company reported a weaker performance, with revenue declining 12% from  Rs 334.87 crore in Q2FY25 to  Rs 295.69 crore in Q2FY26. Profitability was hit harder, as net profit plunged 84% to  Rs 3.65 crore, indicating margin pressure and operational challenges during the quarter.

The company has a strong geographical footprint across 11 Indian states, reflecting diversified execution capabilities. Rajasthan dominates the project mix with 35 projects, followed by Uttar Pradesh (5) and Uttarakhand (4). Presence across northern, western, and eastern regions reduces concentration risk and supports steady order inflows from multiple state markets.

The company has built deep expertise in water supply projects over three decades, executing more than 75 projects across India. A strong WSP order book of  Rs 28,641 million provides healthy revenue visibility, with revenues peaking at  Rs 11,853 million in FY24. Rajasthan and Uttarakhand together contribute over half of this order book.

In railway infrastructure, the company is steadily expanding its footprint, backed by multi-decade execution experience in EPC projects. The railway order book stood at  Rs 16,267 million as of September 2025, offering strong visibility. Segment revenues increased from  Rs 789 million in FY23 to  Rs 1,784 million in FY25, with Rajasthan accounting for 82% of orders.

Meanwhile, the company maintains a solid presence in road and highway EPC projects, supported by long-standing execution capabilities across India. The road segment order book stood at  Rs 5,103 million as of September 2025. Revenues peaked at  Rs 1,821 million in FY24, supported by a balanced portfolio of eight completed and seven ongoing projects.

Vishnu Prakash R Punglia Ltd is an established EPC player with decades of experience in India’s infrastructure space. The company executes water supply, railway, and road projects, supported by strong engineering capabilities, a diversified order book, and consistent execution across multiple states.

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