Synopsis:
Welspun Enterprises became L1 bidder for two major projects worth Rs. 10,445 crore, including a 6-lane highway and a large water treatment plant, boosting its strong order book. The projects enhance its growth prospects and strategic presence in infrastructure and water sectors.
Known for its infrastructure and water treatment solutions, the firm has secured L1 bidder status for two major projects worth Rs. 10,445 crore. This article explores the scale, strategic partnerships, and impact of these highway and water treatment ventures.
Welspun Enterprises Limited’s stock, with a market capitalisation of Rs. 7,357 crores, rose to Rs. 544.95, hitting a high of up to 3.6 percent from its previous closing price of Rs. 525.95. However, the stock over the past year has given a negative return of 3.31 percent.
New Orders
The company has won a project to build and improve a 6-lane elevated highway corridor in Maharashtra, running from Pune to Shirur over a distance of 53.40 km. The project is part of a government initiative by the Ministry of Road Transport and Highways, with the Maharashtra State Infrastructure Development Corporation as the main agency.
The total cost is about Rs. 7,300 crore, and the construction will be completed in four years. The company became the lowest bidder based on projected toll revenue, and the concession period for operating the highway will last for 29 years.
The company has also secured a contract to develop a large 910 MLD water treatment plant in Panjapur, Maharashtra, for Brihanmumbai Municipal Corporation. This project involves civil, mechanical, electrical, and instrumentation work and will be carried out over 48 months. After construction, the company will operate and maintain the plant for 15 years, including regular asset replacement. The total cost for this project is about Rs. 3,145 crore, which covers operation and maintenance. The company has partnered with Veolia Water Technologies, Malaysia, for technology support, and was declared the lowest bidder on October 8, 2025.
Also read: Water management stock hits 5% UC after receiving ₹750 Cr order to develop waste to energy plants
Order Book Overview
As of March 31, 2025, the company had a strong order book of about Rs. 13,665 crore, spread across water, tunneling, transport, and WMEL projects. Most of the orders, about 64%, were from the water segment, followed by tunnel projects at 14%, WMEL at 12%, and transport at 10%. Nearly all orders 93% came from external sources, with only 7% from captive HAM projects. This order book suggested good revenue growth visibility for the company before March 31, 2025.
Q1 Financial Highlights
The company reported revenue of Rs. 845 crore in Q1FY26, declining 19.8% QoQ from Rs. 1,054 crore in Q4FY25 and 9.1% YoY from Rs. 930 crore in Q1FY25. Despite the dip, it maintained a strong 3-year sales CAGR of 39%, reflecting healthy medium-term growth momentum.
Net profit stood at Rs. 101 crore in Q1FY26, down 8.2% YoY from Rs. 110 crore in Q1FY25. Over the longer term, the company’s earnings have grown at a 3-year CAGR of 38%, with an ROE CAGR of 13%, indicating steady profitability and efficient capital utilization.
Written By Fazal Ul Vahab C H
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