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News: Ahluwalia report strong performance on execution which percolated to robust earnings growth. Revenue was up 38.1% YoY to ₹ 1026 crore crore. EBITDA margin stood at 10.9% (up 130 bps YoY) given the revenue mix and operating leverage. Effectively, EBITDA at ₹ 112 crore, was up 57% YoY. At net level, reported PAT at ₹ 70.7 crore, up 57% YoY, aided by strong operating performance. We await other details like order book.
View: Ahluwalia is a key beneficiary of the tailwinds in the segments such as real estate, hotels, hospitals, station redevelopment as well as corporate/industrial capex. Strong order book and robust exaction record will drive a healthy topline growth in FY24 and FY25
Impact: Positive