Hazoor Multi Projects cancels Gammon EPC deal, eyes NSE listing
The company reported a 57% jump in standalone profit to ₹22.07 crore for FY26 while walking away from its planned acquisition of Gammon Engineers.
— 1 earlier story on Hazoor Multi Projects Ltd. →What's new
- Standalone net profit grew 57% to ₹22.07 cr; consolidated profit rose 7% to ₹42.69 cr.
- Standalone revenue reached ₹402.71 cr, a 2% increase.
- The board withdrew its binding offer to acquire the EPC business of Gammon Engineers.
Why this matters
Cancelling the Gammon EPC acquisition removes an uncertainty that had been hanging over the company's capital allocation. The modest 2% revenue gain shows that the profit growth is coming from cost control rather than top-line scale. The move to list on the NSE signals a push for broader market visibility.
What we're watching
- Timeline for the proposed NSE listing application.
- How the company plans to deploy the capital saved from the aborted Gammon deal.
- Sustainability of profit growth given the sluggish revenue performance.
The full read
Hazoor Multi Projects ended FY26 with a 57% jump in standalone net profit to ₹22.07 crore, even as top-line growth remained muted at 2% to ₹402.71 crore. Consolidated profit rose 7% to ₹42.69 crore. The board formally withdrew its binding offer to acquire the EPC business of Gammon Engineers and Contractors, citing a lack of viability. The company is also reviving its push for a listing on the National Stock Exchange. The decision to walk away from the Gammon deal suggests management is prioritizing existing operations over inorganic expansion. With an unmodified audit opinion in hand, the company now faces the test of whether it can accelerate revenue growth beyond the current 2% pace while maintaining its improved profitability.
Questions answered
- Why did Hazoor Multi Projects withdraw the Gammon EPC acquisition?
- The board determined that the acquisition of the EPC business of Gammon Engineers and Contractors was no longer viable.
- What were the key financial results for FY26?
- Standalone net profit rose 57% to ₹22.07 crore, while consolidated net profit increased 7% to ₹42.69 crore. Standalone revenue from operations grew 2% to ₹402.71 crore.
- What is the status of the company's listing plans?
- The board has revived its plan to list the company's shares on the National Stock Exchange.
- Was there any concern raised by the auditors?
- No. The company received an unmodified audit opinion on its financial results.
Story so far
All notes on HAZOOR →- 26 May 2026 · 7:21 PM IST Hazoor Multi Projects cancels Gammon EPC deal, eyes NSE listing
- today Hazoor Multi Projects scraps Gammon EPC deal, eyes NSE listing