Step-down subsidiary AGICL's new order book more than doubles to Rs. 154 crores in H1 FY 2026-27

Step-down subsidiary AGICL won new orders worth Rs. 154 crores in H1 FY 2026-27, against Rs. 72 crores a year earlier — growth of approximately 214%.

Mon 12 Oct 2026

New Orders H1 FY 2026-27

Rs. 154 crores

Total Order Book

crossed Rs. 400 crores as on 30 September 2026

YoY Growth in New Orders

approximately 214% (vs Rs. 72 crores a year earlier)

Order book update from the step-down subsidiary

Avonmore Capital & Management Services Ltd informed the exchanges that its step-down subsidiary, Almondz Global Infra Consultant Limited (AGICL), secured a new order book of Rs. 154 crores in the first half year as on 30 September 2026, against Rs. 72 crores in the first half year as on 30 September 2025 — a growth of approximately 214%. With this, AGICL's total order book crossed Rs. 400 crores as on September 30, 2026. (A step-down subsidiary is a company held through a subsidiary of the listed company.)

What kind of orders are these

• Infrastructure consultancy mandates — detailed project reports (DPR), project management consultancy (PMC), Authority's Engineer, lenders' independent engineer and transaction advisory services.
• Across highways, bridges, railways, urban and industrial infrastructure, and domestic in nature.
• Awarded by various Central and State Government authorities, agencies and project companies.
• The update states the awarding entities do not belong to the promoter, promoter group or group companies, and the orders are not related party transactions. The assignments are on standard terms of the respective awarding entities, in the ordinary course of the subsidiary's business.

Selected mandates secured in H1 2026-27

• IDCO, Odisha: Programme Management Consultant for various IDCO projects, valued at approximately Rs. 33.15 crore (excluding GST). The update describes it as the highest-value sole bid won by AGICL to date.
• Mission 3000 MT traction power works, West Central Railway: Authority Engineer assignment valued at Rs. 21.23 crore.
• Kulgaon Badlapur Municipal Council, Maharashtra: DPR and PMC for conservation of the Ulsa River, flood control and disaster management, for Rs. 15 crore.

Timeline and stated impact

The new orders will be executed over a period of three years. The company states the orders provide AGICL with multi-year business visibility and are expected to contribute to the revenue of the subsidiary, and consequently to the consolidated revenue of the company, as they are executed over the next three years.

Management view and way forward

The management says the new order book reflects the strength of AGICL's infrastructure advisory franchise and the trust that government authorities, lenders and developers place in the team, and that the orders give strong visibility on delivery and revenue. AGICL's priorities are to mobilise the newly won mandates on schedule, carry its record of timely delivery into every live project, and build the pipeline in growth sectors such as Ports, Airports and Metro.

What a retail investor may take away

• This is a business update on orders won by a step-down subsidiary; the revenue is expected as the mandates are executed over three years.
• The orders are domestic consultancy mandates from several government awarding entities, described as ordinary-course business with no unusual terms.
• The update also carries the press release issued by the company on the same subject.

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