VVIP Infratech Ltd — Updates, 30-05-2025: Company Update

VVIP Infratech has announced a board meeting on the financial results for the quarter and half-year. The company operates primarily in infrastructure with segments including sewage treatment plants (STPs), comprehensive sewerage and water networks, and electrical infrastructure. Their real estate segment, run through a 90% subsidiary Vibhor Vaibhav Infrahome, has delivered about 75 lakh sq ft in NCR and is developing two ongoing projects totaling 18 lakh sq ft. The order book stands robust at Rs. 869 Cr across segments, with substantial contributions from STP (Rs. 335 Cr), electrical distribution (Rs. 326 Cr), and water supply (Rs. 208 Cr). Standalone turnover reached Rs. 279 Cr with EBITDA margin improving to 14% and PAT margin to 9.4%. Consolidated revenue rose 30% to Rs. 373 Cr, with EBITDA margin doubling to 21% and PAT margin at 9.7%. Real estate projects have a combined revenue potential of around Rs. 1,700 Cr, with controlled construction handled in-house. The company expects to recognize around Rs. 300 Cr of real estate revenue in the coming year and targets completing 80-90% of the current EPC order book within the year, aiming for 40% year-on-year growth in EPC turnover. Sustainable EBITDA margins are estimated at 15-17% for infrastructure and 20-25% for real estate, blending to 17-18% overall. Expansion into government building projects is planned selectively based on margin, with ongoing bids in Madhya Pradesh and Delhi regions. Working capital and debt levels are comfortable with potential for incremental bank funding if needed. Receivables from government projects, including Jal Jeevan Mission, faced short-term delays but have stabilized. Real estate inventory rising due to ongoing work and land acquisition, with sales and project deliveries progressing as planned.