Ramky Infrastructure Reports ₹10,000 Crore Order Book for 2025
Filing Summary
Ramky Infrastructure Limited has disclosed its year-end business update, highlighting an order book of approximately ₹10,000 crore, providing visibility for 2 to 2.5 years. The company focuses on large-scale projects ranging from ₹1,000 crore to ₹2,000 crore, with a strong domestic pipeline of $1 billion and international projects near ₹1,000 crore. Financial results for Q2 FY26 show consolidated revenue of ₹4,716 million, EBITDA of ₹1,420 million, and PAT of ₹778 million. The company emphasizes execution capabilities and operational sustainability in its Water, Wastewater, and Industrial Parks sectors.
Ramky Infrastructure Limited has released its year-end business update, detailing significant developments and financial metrics for 2025. The company reported an order book of approximately ₹10,000 crore, offering visibility for the next 2 to 2.5 years. The update includes a focus on large-scale projects, with sizes ranging from ₹1,000 crore to ₹2,000 crore, aimed at reducing fragmentation and enhancing delivery controls. The company also highlighted a strong domestic pipeline of approximately $1 billion and an international pipeline close to ₹1,000 crore.
Financially, Ramky Infrastructure’s Q2 FY26 performance showed consolidated revenue from operations at ₹4,716 million, with consolidated EBITDA at ₹1,420 million and consolidated PAT at ₹778 million. On a standalone basis, revenue from operations was ₹4,448 million, EBITDA was ₹1,172 million, and PAT was ₹679 million. The company has no standalone term debt, with facilities primarily comprising working capital and non-funded limits. Project-specific borrowing linked to a completed HAM asset amounts to about ₹160 crore.
Operationally, Ramky Infrastructure focuses on Water and Wastewater management, Industrial Parks, and Urban Solutions. The company executes projects largely in-house, supported by structured project monitoring. In Water and Wastewater, the scope includes design-build projects, transmission pipelines, and sewage treatment plants. The company has delivered several sewage treatment plants within 18 to 20 months, using models such as EPC, HAM, and PPP.
The company emphasizes ‘Commissioning as a controlled transition point’ to minimize handover gaps, particularly in sewage treatment projects and water systems. This approach integrates operational responsibilities into the action plan, ensuring sustainability over a 15 to 20-year period. Ramky Infrastructure also focuses on Operation & Maintenance (O&M) as a core business line, with long-term operations in Water and Wastewater and Industrial Parks.
Ramky Infrastructure’s management has indicated that the company is the lowest bidder for projects worth approximately ₹3,000 crore, which it expects to secure in the coming quarters. The company is pursuing international opportunities with controlled risk, including potential tenders in Oman and Saudi Arabia. A meaningful tender win in Q4 is expected in the range of ₹500 to ₹600 crore.
The company has moved past its restructuring phase, with management indicating that the restructuring exercise is about five years old. Ramky Infrastructure is exploring monetization approaches using assured revenues as collateral, with potential leverage of ₹800 to ₹900 crore and total leverage possibly exceeding ₹1,000 crore.
Ramky Infrastructure Limited is a flagship company of the Ramky Group, focusing on infrastructure development. Since its incorporation in 1994, the company has completed various projects in Industrial Infrastructure, Water, Wastewater Treatment, Roads, Bridges, and Urban Infrastructure Development. It operates in India and overseas markets, emphasizing quality management, environmental management, and occupational health and safety standards.