B L Kashyap and Sons Shares Soar 9% on ₹300 Crore CRC Greens Order in February 2026

Breaking: B L Kashyap and Sons Shares Soar 9% on ₹300 Crore CRC Greens Order in February 2026

B. L. Kashyap and Sons Ltd. (NSE: BLKASHYAP) saw its share price surge by an impressive 9% on Thursday, February 19, 2026, following the announcement of a significant ₹300 crore order from CRC Greens. This new, crucial project involves the construction and supervision of civil and structural works for a premium housing development located in Greater Noida, Uttar Pradesh. The contract, a domestic undertaking, is expected to be completed within an approximate timeframe of 42 months, further bolstering BLK's already robust order book and signaling strong growth prospects in the Indian construction sector.

The Catalyst

The immediate trigger for the substantial jump in B L Kashyap and Sons' share price was the formal announcement of the ₹300 crore work order from CRC Greens Private Limited. This contract, focused on a group housing project in the rapidly developing Greater Noida region, underscores the sustained demand in India's residential real estate market. The project's scope encompasses complex civil and structural engineering, a core competency of BLK, and adds considerable revenue visibility for the company over the next three and a half years. The company formally accepted the letter of intent on February 17, 2026.

Financial Forensics

This latest ₹300 crore win significantly enhances B. L. Kashyap and Sons' already healthy order book, which stood at a formidable ₹5,293 crore as of December 31, 2025. This figure represents a substantial 29.5% quarter-on-quarter increase from ₹4,087 crore recorded in Q2 FY26 and a robust 60% year-on-year growth compared to December 31, 2024. The company has demonstrated exceptional order inflow momentum, securing new orders worth ₹1,528.98 crore during Q3 FY26 alone, marking a sharp 612% jump year-on-year.

For the third quarter of fiscal year 2025-26 (Q3 FY26), ending December 31, 2025, B L Kashyap and Sons reported a consolidated revenue of ₹323.87 crore and a Profit After Tax (PAT) of ₹11.83 crore. The company's operating profitability, as indicated by a positive EBITDA of ₹28.87 crore for Q3 FY26, highlights its continued focus on cost discipline amidst sectoral challenges.

Here’s a snapshot of B. L. Kashyap and Sons' recent order book growth:

Metric	Q3 FY26 (Dec 31, 2025)	Q2 FY26 (Sep 30, 2025)	Q3 FY25 (Dec 31, 2024)	Source
Total Order Book (₹ Crore)	5,293	4,087	3,311
New Orders Secured (₹ Crore)	1,528.98	N/A	250
YoY Growth in New Orders (Q3)	612%	N/A	N/A

(Source: FinScann analysis based on company filings and financial reports)

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The company’s healthy Debt-to-Equity Ratio stood at 0.39 as of February 18, 2026, indicating a well-managed capital structure. However, its Price-to-Earnings (P/E) ratio has shown some variability, hovering around 28x in early 2026, but also reported at 36.93 as of February 17, 2026, and 104.5 as of February 18, 2026, reflecting differing market valuations and earnings calculations.

Market Impact

The positive news about the CRC Greens order is expected to generate sustained investor interest in B L Kashyap and Sons. While the broader Indian construction sector anticipates a growth of 7.0-7.5% in FY26, driven by robust government infrastructure spending and rising housing demand, companies with strong order books like BLK are well-positioned for outperformance. The consistent securing of high-value domestic projects, including prior orders for Embassy Manyata Business Park (₹157 crore), Embassy Splendid Tech Zone (₹364.07 crore in Chennai), and Sattva Chennai Knowledge City (₹615.69 crore), reinforces BLK's competitive standing. Investors will closely watch the company's execution capabilities for this 42-month project, especially given ongoing industry challenges such as escalating material costs and competitive pressures.

Key Takeaways

• Order Book Strength: The ₹300 crore order from CRC Greens significantly strengthens BLK's already robust order book, providing strong revenue visibility for the coming years.
• Residential Sector Tailwinds: This project highlights sustained demand in the residential segment, particularly in high-growth corridors like Greater Noida.
• Execution Focus: With a 42-month execution timeline, efficient project management and operational prowess will be critical for converting this order into profitable revenue.
• Healthy Pipeline: BLK's impressive Q3 FY26 order inflows, a 612% year-on-year jump, point towards an expanding project pipeline.
• Indian Construction Outlook: The broader construction sector benefits from government capex and urbanization, providing a favorable operating environment for established players.

Moat Analysis

A company's "moat" refers to its sustainable competitive advantages that protect its long-term profits and market share. For B L Kashyap and Sons, its moat lies in its proven track record of over three decades in diverse civil engineering and construction projects, its pan-India presence, and its strong relationships with marquee clients. The company's established brand reputation for timely delivery and quality execution allows it to consistently secure large, complex contracts.

Investment Play: B L Kashyap and Sons represents an investment play on India's burgeoning infrastructure and real estate development story. Its expanding order book and operational efficiency in navigating a competitive landscape position it as a key beneficiary of the nation's growth trajectory.

Q: What is the latest order B. L. Kashyap and Sons received? A: B. L. Kashyap and Sons recently secured a ₹300 crore order from CRC Greens for constructing civil and structural works for a group housing project in Greater Noida.

Q: How long will the CRC Greens project take to complete? A: The project is expected to take approximately 42 months to complete from the date of the order.

Q: What is the current market capitalization of B. L. Kashyap and Sons? A: The market capitalization of B. L. Kashyap and Sons was approximately ₹1,129.23 crore as of February 17, 2026.

Q: What is the outlook for the Indian construction sector in 2026? A: The Indian construction sector is projected to grow by 7.0-7.5% in FY26, driven by significant government infrastructure initiatives, robust public capital expenditure, and increasing housing demand across urban centers.

Q: Has B L Kashyap and Sons secured other major orders recently? A: Yes, the company has a strong history of securing significant contracts. Recent major wins include orders for the Embassy Manyata Business Park, Embassy Splendid Tech Zone, and Sattva Chennai Knowledge City, contributing to a substantial order backlog.

Disclaimer: For information only; not investment advice. Stock market investments carry risks. Please consult a SEBI-registered advisor before investing. FinScann assumes no liability for decisions made based on this report.