B L Kashyap & Sons' Q4FY24 revenue up 21.45% to Rs. 348.78 crore, PAT at Rs. 23.66 crore vs. Rs. 31.93 crore loss in Q4FY23; FY24 order book at Rs. 2846 crore

Key Highlights:

·       Consolidated revenue of Rs. 1256.76 crore for the twelve months ended on 31st March 2024 recording a 11.23% jump over the preceding year consolidated revenue of Rs. 1,129.88 whereas PAT increased by 137.3% to Rs. 52.53 crore from Rs. 22.14 crore

·       The company received orders worth Rs. 1673 crore during the year and the order book closed at Rs.2846 crore for the year ended March 31, 2024

·       Company had reported consolidated revenue of Rs. 324.90 crore and PAT of Rs. 6.91 crore during the third quarter of FY2023 - 24 thereby recording a surge of 7.35% and 242.40% respectively in Q4FY24 as compared to Q3FY24

Delhi…May 31, 2024… B L Kashyap & Sons Limited (BSE: 532719 NSE: BLKASHYAP), one of the leading civil engineering and construction company released its financial performance for the fourth quarter of the fiscal year 2023-24. In Q4FY24, the company achieved a consolidated revenue of Rs. 348.78 crore and PAT amounted to Rs. 23.66 crore as compared to consolidated revenue of Rs. 287.19 crore and loss of Rs. 31.93 crore in the corresponding quarter of Q4FY23 last year; showcasing growth of 21.45% in consolidated revenue. Consolidated revenue of Rs. 1256.76 crore and PAT of Rs. 52.53 crore for the twelve months ended on 31st March 2024 as compared to revenue of        Rs. 1129.88 crore and PAT of Rs. 22.14 crore for the twelve months ended on 31st March 2023. Notably, the financial results for the third quarter ending on December 31, 2023 recorded revenue of Rs. 324.90 crore and PAT of Rs. 6.91 thereby recording a surge of 7.35% and 242.40% respectively in Q4FY24 as compared to Q3FY24.

Commenting on the results, Mr. Vineet Kashyap, Managing Director, B L Kashyap & Sons Ltd. said, "Amid a dynamic market environment, the company has sustained its growth momentum into the fourth quarter of FY2023-24. A notable year-on-year revenue increase of 21.45% from 2023 to 2024 reiterates our ambitions and goals. Given the current orders and their status, the company is on track to achieve its target of a 30% increase in top line and double-digit margin growth for FY2024-25. We are optimistic about reaching an order book of approximately Rs. 4000-4500 crore for FY2025-26 as we continue to pursue new clients with our existing funnel approach. To meet our execution targets and scale for the upcoming year, our proposed capital expenditure for FY2024-25 will be Rs. 50 crore, up from the current total capital expenditure of Rs. 30.6 crore for FY2023-24.

There are immense opportunities in residential projects, railway infrastructure, blue-chip private developers, new regions such as Pune and Hyderabad, hospitals, and composite steel structures (in collaboration with JSSL/JSW and JSPL). Beyond focused tendering for projects, we have bolstered our execution capabilities through investments in formwork material, targeted hiring, and ongoing training to up-skill our mid and senior level engineering teams in new quality and safety practices."

The company received orders worth Rs. 1673 crore during the year and the order book closed at Rs.2846 crore for the year ended March 31, 2024. During the year, orders were received across multiple segments like railways, business parks, educational institutions and residential complex. Some of the prestigious orders won; National High Speed Rail Corporation Limited for the construction of Training Institute Buildings at Vadodara, Embassy Constructions for project Embassy Business Hub - Phase 2 at Bangalore, Indian School of Business, Hyderabad, Nzuri Pune Knowledge Park, DLF Home Developers Limited, Delhi Inter-national Airport Limited, Suparna Realtors Private Limited (Commercial project Sattva Texonic, Bangalore) and Jagamayi Manor Private Limited (Project Sattva Verve, Pune) and Manyata Promoters Private Limited. Iconic projects built by BLK such as Lucknow’s Gomtinagar Railway Station and the new Sabarmati Multimodal Transport Hub for India’s first bullet train corridor by NHSRCL have not only become examples of modern infrastructure but are reimagining the Indian infrastructure sector.

The composition of order book - segment wise is as follows: Commercial – 62.57%, Residential – 14.34%, Infrastructure/Industrial – 9.88% and institutional – 13.22%. The government sector contributes Rs. 566.68 crore, while the private sector constitutes     Rs. 2278.32 crore, making up 19.92 % and 80.08 % respectively of the total order book.

B L Kashyap and Sons Ltd. has received many accolades and awards in the recent past. Some of the prestigious ones include International Safety Winner for DNR Altitude Bangalore – British Safety Council, CII South Safety Excellence award, “UNNATHA SURAKSHA PURASKARA” &“UTTAMA SURAKSHA PURASKARA”, Excellence awards from National Safety Council Karnataka, ‘Award of appreciation from RLDA for Gomti Nagar, Award of appreciation from Elan Paradise, Award of appreciation from AIPL Joy Gallery and Award of appreciation from DLF Arbour for safe man hours’.

About B L Kashyap:

B L Kashyap & Sons Ltd. (BLK) is one of the leading Engineering, Procurement and Construction (EPC) Company. The company has a presence in 12 cities across 8 states in India. With three decades of expertise, BLK has completed over 250 projects and more than 140 million sq. ft. The portfolio spread includes IT Campuses, Commercial Spaces, Malls, Hotels, Residential Complexes, Institutions, Factories and Manufacturing Facilities, Healthcare and Transportation. BLK has a strong workforce of 1200+ engineers & professionals.

For further information on the company: www.blkashyap.com