DHRUV

Dhruv Consultancy Services reported a robust Q1 FY26, with consolidated revenue growing 6.89% year-on-year to INR21.4 crores. EBITDA saw a significant increase of 30.18% to INR3.58 crores, leading to an improved margin of 16.72% from 13.75% in the prior year. Net profit surged by 81% year-on-year to INR1.6 crores, translating to a healthy margin of 7.46% and diluted EPS of INR0.84, up 52%. These results reflect consistent execution and strategic diversification.

The company made a notable entry into the international private sector with its first project in Saudi Arabia, aligning with Vision 2030. Operations have commenced in Mozambique following the receipt of a work permit and the opening of a branch office. Dhruv Consultancy is also shortlisted in Ghana, Zambia, Tanzania, and Nigeria, with business development efforts underway in Vietnam to capitalize on Giga funding for infrastructure projects. International orders can range up to INR100 crores, with some bids submitted for up to INR250 crores, indicating potential for larger project values.

Domestically, Dhruv strengthened its presence in core infrastructure consulting with major wins in railway and expressway projects. This includes an INR1.94 crores detailing engineering contract under the Sagarmala initiative by IPRCL, and projects for the Jhansi Expressway and Bundelkhand Ganga expressway extension. The company is also actively bidding for seven to eight ropeway projects and three to four airport projects, with results expected in Q2 FY26, highlighting efforts to diversify beyond highways.

Dhruv Consultancy is leveraging AI to enhance operational efficiency across its services. AI-driven tools are used for geotechnical and traffic surveys, generating reports through artificial intelligence. Furthermore, AI significantly reduces the time required for design proof-checking from 15-20 days to just 5 minutes. This technological adoption allows the company to undertake more projects with fewer staff, improving scalability and readiness for international markets requiring 4D/5D models.

The company has successfully reduced finance costs, primarily due to a preferential issue in the last financial year and the closure of most loans in the past 3-4 months, with no new debt planned. A significant development is the approval of surety bonds by NHI, which will replace performance bank guarantees, thereby reducing margin money requirements (previously 15-50%) and collateral. This is expected to lead to further finance cost reductions and unlimited bidding capacity.

Dhruv Consultancy has outlined an ambitious long-term vision. By 2030, the company aims to replicate its highway sector success in two additional sectors, railways and airports, aspiring to be among the top two or three consultants in these areas. Looking further ahead to 2050, the vision is to become a global infrastructure consultant with a presence in at least eight regions and four continents, supported by multiple subsidiaries and branch offices.