GAYAHWS
Gayatri Highways financials
- Market cap
- ₹46 Cr
- Sector
- Services
What Gayatri Highways Limited does
Gayatri Highways Limited is a Hyderabad, Telangana-based holding and investment company in the roads and highways infrastructure space. It holds equity, loans and receivables in road/expressway project entities, including jointly-controlled entities Hyderabad Expressways Limited (HEL) and Cyberabad Expressways Limited (CEL), and subsidiary SPVs Gayatri Jhansi Roadways Limited, Gayatri Lalitpur Roadways Limited and HKR Roadways Limited. During FY2024-25 the Company relinquished one project SPV (referred to as SMTL) and continues to pursue recovery of dues from the Government of Telangana/HGCL/HMDA relating to its Cyberabad Expressways Limited JV. Its current income comes mainly from operations & maintenance activity and other income rather than direct toll collection.
Segments
- Road/expressway BOT-HAM project investments
- Road-project subsidiaries (SPVs)
- 3 (Gayatri Jhansi Roadways Ltd, Gayatri Lalitpur Roadways Ltd, HKR Roadways Ltd)
- Jointly-controlled road/expressway entities
- 2 (Hyderabad Expressways Ltd, Cyberabad Expressways Ltd)
- Equity stake in Hyderabad Expressways Ltd (JV)
- 50%
Quarterly results
Q1 FY27: net profit down 108.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 2 | 1 | 0 | 0 −100% | 0 −100% | 15 +1133% | 7 |
| EBITDA | -1 | -3 | -2 | -0 | -2 −224% | -0 +91% | 1 +140% | 1 +338% |
| Net profit | 11 | -4 | -5 | 32 | -5 −145% | -4 +11% | -2 +53% | -3 −109% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −6.3% 1Y
1Y: ₹2.05 on 10 Sept 2025 → ₹1.92. High ₹4.54 (6 Oct 2025), low ₹1.81 (9 Jul 2026).
Financials, as filed
Revenue grew 190.8% a year over 2 years, FY24 to FY26. Operating margin widened to -10.4%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹2 Cr | ₹6 Cr | ₹15 Cr |
| Operating profit | ₹-7 Cr | ₹-5 Cr | ₹-2 Cr |
| Operating margin | -427.9% | -83.0% | -10.4% |
| Interest | ₹15 Cr | ₹15 Cr | ₹15 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹-1 Cr | ₹0 Cr | ₹21 Cr |
| Net margin | -45.3% | 5.4% | 141.1% |
| Cash from operations | ₹1 Cr | ₹13 Cr | ₹-5 Cr |
| Free cash flow | ₹1 Cr | ₹13 Cr | ₹-5 Cr |
| ROCE | 7.0% | 7.0% | 16.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹48 Cr | ₹48 Cr | ₹48 Cr | ₹48 Cr | ₹48 Cr | ₹48 Cr |
| Reserves | ₹132 Cr | ₹117 Cr | ₹-240 Cr | ₹-240 Cr | ₹-679 Cr | ₹-220 Cr |
| Borrowings | ₹402 Cr | ₹397 Cr | ₹405 Cr | ₹406 Cr | ₹408 Cr | ₹404 Cr |
| Other liabilities | ₹8 Cr | ₹20 Cr | ₹19 Cr | ₹14 Cr | ₹1.2k Cr | ₹24 Cr |
| Total liabilities | ₹590 Cr | ₹582 Cr | ₹232 Cr | ₹227 Cr | ₹981 Cr | ₹256 Cr |
| Fixed assets | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹540 Cr | ₹549 Cr | ₹199 Cr | ₹199 Cr | ₹60 Cr | ₹199 Cr |
| Other assets | ₹50 Cr | ₹33 Cr | ₹33 Cr | ₹28 Cr | ₹921 Cr | ₹57 Cr |
| Total assets | ₹590 Cr | ₹582 Cr | ₹232 Cr | ₹227 Cr | ₹981 Cr | ₹256 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −1.82 pp while the public added +1.82 pp. The shareholder count grew 25% to 53,261.
- Promoters
- 61.2%
- FIIs
- 1.5%
- Public
- 37.4%
Since Jun 2025
- FIIs −1.82 pp
- Public +1.82 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Over this window the public went from 34.8% to 37.4% — +2.6 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 61.2%, FIIs 4.1%, Public 34.8%.Dec '23: Promoters 61.2%, FIIs 4.1%, Public 34.8%.Mar '24: Promoters 61.2%, FIIs 4.1%, Public 34.8%.Jun '24: Promoters 61.2%, FIIs 4.1%, Public 34.8%.Sep '24: Promoters 61.2%, FIIs 4.1%, Public 34.8%.Dec '24: Promoters 61.2%, FIIs 4.1%, Public 34.8%.Mar '25: Promoters 61.2%, FIIs 4.1%, Public 34.8%.Jun '25: Promoters 61.2%, FIIs 3.3%, Public 35.5%.Sep '25: Promoters 61.2%, FIIs 3.3%, Public 35.5%.Dec '25: Promoters 61.2%, FIIs 2.6%, Public 36.3%.Mar '26: Promoters 61.2%, FIIs 1.9%, Public 36.9%.Jun '26: Promoters 61.2%, FIIs 1.5%, Public 37.4%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Gayatri Highways Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Gayatri Projects Limited | 26.04% | unchanged |
| Indira Subbaramireddy Tikkavarapu | 23.84% | unchanged |
| Sandeep Kumar Reddy Tikkavarapu | 11.27% | unchanged |
| Satpal Khattar | 2.16% | unchanged |
| Afrin Dia FPI fund | 1.25% | unchanged |
| Jenna Reddy Brij Mohan Reddy | 0.00% | unchanged |
| Sulochana Gunupati | 0.00% | unchanged |
| Tikkavarapu Sarita Reddy | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Gayatri Highways Limited
Guides on how to read this kind of business and the numbers that matter.