Om Infra's ₹482 cr L1 win equals 103% of FY26 revenue
The company emerges as lowest bidder for a dam and irrigation network in Rajasthan's Baran district, covering 10,000 hectares. Formal contract awaits internal procedures.
— 1 earlier story on Om Infra Ltd. →What's new
- Om Infra declared L1 for a ₹482.27 cr water resource EPC project in Rajasthan.
- Project involves survey, design, construction, and operation of dam and pressurised irrigation on 10,000 hectares.
- Formal letter of intent not yet issued; award subject to internal departmental procedures.
Why this matters
The project value is massive: it effectively doubles the company's annual revenue and represents 58% of its market cap. If confirmed, it would transform Om Infra's order book and growth trajectory. But until the contract is signed, execution risk tempers the optimism.
What we're watching
- Conversion of L1 status to a binding contract: timeline and any conditions.
- Impact on order book and revenue visibility for FY27 and beyond.
- Potential re-rating given current P/E of 40x and weak trailing earnings.
The full read
Om Infra has been declared the lowest bidder for a ₹482.27 crore water resource project in Rajasthan, a sum that equals 103% of its FY26 standalone revenue and 58% of its market cap. The project includes building a dam and a pressurised irrigation network over 10,000 hectares. If confirmed, it would fundamentally alter the company's scale. At current trailing P/E of 40x and with revenue and profits shrinking, Om Infra needs this order. But the award is not yet binding; it remains subject to the Water Resource Department's internal procedures. Until the contract is signed, the sheer size of the bid is both the story and the risk.
Questions answered
- What is the scope of the project?
- The EPC turnkey project involves constructing a dam and a pressurised irrigation network covering nearly 10,000 hectares of farmland in Baran district, Rajasthan. It includes survey, design, construction, and operation.
- How big is this order relative to Om Infra's size?
- At ₹482.27 crore, the order is 103% of the company's FY26 standalone revenue and about 58% of its current market capitalisation of ₹832 crore.
- What are the risks before the contract is finalised?
- The company is only the lowest bidder (L1) and the formal letter of intent is pending the awarding authority's internal procedures. The contract is not yet binding.
- When is the contract expected to be awarded?
- No specific timeline has been disclosed. The award is subject to completion of internal departmental procedures by the Water Resource Department of Rajasthan.
- How does this compare to Om Infra's recent financial performance?
- Trailing twelve-month revenue fell 6.9% and PAT dropped 56.5%. The latest quarter (Mar 2026) showed sales of ₹160 crore and net profit of ₹6 crore. The order could reverse that decline.
- What is Om Infra's debt position?
- The company has a low debt-to-equity ratio of 0.10, meaning it carries little debt on its books.
Om Infra Ltd.
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All notes on OMINFRAL →- 17 Jul 2026 · 5:01 PM IST Om Infra's ₹482 cr L1 win equals 103% of FY26 revenue
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