Fastest growing road EPC Company with a revenue CAGR of 36.53% between fiscals 2023-25
MUMBAI, 29 (The CONNECT) – Haryana-based Infrastructure construction company Dhariwal Buildtech Ltd has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO).
The offer, with a face value of Rs 10, is an entirely fresh issue aggregating up to 950 Crore. It includes a reservation for subscription by eligible employees.
SBI Capital Markets Limited and HDFC Bank Limited are the book-running lead managers and MUFG Intime India Private Limited is the registrar of the offer. The equity shares are proposed to be listed on BSE and NSE.
The company, in consultation with the book-running lead managers, may consider a pre- IPO placement up to Rs 190 crores – 20% of the issue siz. If such placement is completed, the issue size will accordingly be reduced.
About Rs 300 crore from the issue proceeds will be spent for Investment in the material subsidiaries, for settling the company’s dues and, Rs 203 crore for capital expenditure for purchase of construction equipment by our Company, Rs 174.2 crore, the Company and General corporate purposes
The offering is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, 15% to non-institutional bidders and 35% for individual and retail individual bidders respectively.
Dhariwal Buildtech Ltd is the leading infrastructure construction company specializing in the construction of roads, highways, state highways, PMGSY roads, bridges, railway over bridges as well as tunnels, railways, irrigation, rural infrastructure and other civil works. According to the CRISIL Report, Dhariwal Buildtech Ltd is one of the leading and fastest growing road engineering, procurement and construction company (“EPC”) with a revenue CAGR of 36.53% between fiscal 2023 and 2025.
As of March 31, 2025, the company has completed over 29 projects across 8 states with a consolidated contract value of around ₹ 2,117.6 Crore. The company have a consistent track record of executing numerous intricate and unique projects across India.
As of March 31, 2025, the company the company had an Order Book of Rs 4,767.00 crore with with 27 ongoing projects across 10 states.
Revenue from operations has grown from Rs 618.51 crore in Fiscal 2023 to Rs 1,152.98 crore in Fiscal 2025, with a CAGR of 36.53%. EBITDA has increased from Rs 105.29 crore in Fiscal 2023 to Rs 246.57 crore in Fiscal 2025, with a CAGR of 53.03%. PAT has grown from Rs 64.39 crore in Fiscal 2023 to Rs 160.59 crore in Fiscal 2025, with a CAGR of 57.93%. This consistent growth trajectory reflects the company’s ability to scale operations efficiently while maintaining strong profitability margins.
