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With a diversified portfolio, presence over 73 countries, delivering world class engineering solutions to its clients with experienced team to successfully deliver complex one-of-a-kind projects. Its revenue grew 12.5% CAGR (FY22-25) whereas, EBITDA & PAT grew by 16.5% CAGR & 13.9% CAGR respectively over the same period Q3FY26 performance: KPIL reported a strong consolidated performance in Q3FY26, with revenue rising 16% YoY to 6,665 crore, driven by robust execution across T&D, Buildings & Factories, Oil & Gas and Urban Infrastructure. EBITDA increased 7% YoY to...
Accordingly, on 30th April 2026, Vedanta's stock price is expected to adjust for the demerger and trade in the range of ~300-325 per share (vs. current market price of ~720 per share). This estimate is indicative, as we await exact allocation of net debt across the resulting entities. The...
Vedanta Limited (VEDL) reported a consolidated revenue of INR467b (+19% YoY and +17% QoQ) against our est. of INR435b, driven by higher LME, better volume, and forex gains in 3QFY26.
Lodha Developers’ (LODHA) presales are expected to clock a 22% CAGR, supported by healthy collections and debt at comfortable levels of 0.25x by the end of 1HFY26, despite aggressive BD additions of INR250b.
We attended Coforge’s Investor Day 2025 wherein the management discussions were largely centered on strategic objectives, growth vectors and execution intensity.
Brigade Enterprises (BRGD) posted a 30% CAGR in presales over FY21-25 and is expected to deliver 19% growth during FY25-28, guided by its strong launch pipeline and a scale-up in Hyderabad and Chennai.
TCS reported revenue of USD7.5b in 3QFY26, rising 0.8% QoQ in CC terms, above our estimate of 0.5%. Growth was led by regional market and others (up 4.6% QoQ CC).
LTIMindtree (LTIM) reported a revenue of USD1.2b in 3QFY26, up 2.4% QoQ in constant currency (CC), above our estimate of 2.2% QoQ CC growth. EBIT margin at 16.1% was in line with our estimate of 16.0%.
Robust order inflow and improving client demand visibility: KPIT recorded US$232mn in deal wins in Q2 (+12% YoY), including a US$100mn+ multi-year engagement with a European OEM, expected to ramp up over the next few quarters from Q3. Management noted improving client sentiment and renewed traction across autonomous driving, cybersecurity, after-sales diagnostics and commercial vehicle programs. Stronger demand trends in Europe, India and China, along with a healthy pipeline, provide confidence on revenue recovery...
In FY26, Sunteck Realty (SRIN) expanded its MMR portfolio by adding three new projects, offering a combined GDV potential of ~INR50b. The total cash outlay of INR8.1b towards business development in FY26 was notably higher than INR1.8b in FY25.
HCL Technologies (HCLT) reported 3QFY26 revenue of USD3.8b, up 4.2% QoQ CC, above our estimate of 2.3% QoQ CC growth. EBIT margin came in at 18.6% vs. our estimate of 18.1%.
Sunteck Reality (SRIN) reported healthy pre-sales growth of 22% YoY, along with strong 39% YoY collection growth in Q4. SRIN's proven ability to market ultra-luxury projects, aggressive and multi-pronged land acquisition capabilities in various micro markets across Mumbai Metropolitan Region (MMR) is an interesting play on Mumbai's high value real estate market. We expect the company's pre-sales to grow to 25% CAGR over FY26-28E, supported by launch acceleration, including the planned Dubai JV project in 2HFY27. Further given likely strong cash flow generation, we see SRIN to step up new project additions which will be a key catalyst for stock performance....
BFSI momentum driving scalable, visible growth: The growth was driven by BFSI (16% mix) which expanded 23% QoQ, with rising share of revenue and strong scaling in recently added accounts. Management has guided for FY26 revenue of $119120 mn, implying ~1920% YoY growth. Financial Services is expected to remain the primary growth engine into FY27, supporting the long-term aspiration of reaching US$200 mn revenue by FY28. Renewals are healthy, pricing has held firm (including select price increases), and multistakeholder penetration in large BFSI accounts supports improving revenue...
Just Dial reported 6.4% YoY revenue growth in Q3FY26, with EBITDA margin expanding 102bps YoY driven by lower employee costs following Q2FY26’s headcount reductions.
Q3FY26 Performance: Revenue at US$ 1,208 mn, up 2.4% QoQ/6.1% YoY (up 2.4% QoQ CC/ 5.2% YoY CC). In rupee terms, revenue stood at 10,781 crore, up 3.7% QoQ and 11.6% YoY. Reported EBIT margin declined ~520 bps QoQ to 10.6% while adjusted EBIT margin (ex-one off from new labour code) expanded by ~20 bps QoQ to 16.1%. Reported PAT stood at 959.6 crore, down 31% QoQ/ 12% YoY while...
