Analysts/Institutional Investor Meet/Con. Call Updates

August 18, 2026 To To BSE Limited National Stock Exchange of India Ltd. Listing Department Exchange Plaza, C-1, Block G P.J Tower, Dalal Street Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai – 400051 Stock Symbol -540047 Stock Symbol –DBL Subject: - Transcript of the Analyst/Investors conference call In continuation to our letter dated August 06, 2026 please find herewith the transcript of the Investor conference call for Investor and analyst meeting held on Tuesday, August 11, 2026 at 11.00 AM (IST) related to the financial results for the quarter ended June 30, 2026, conducted through digital means. The aforesaid information is available on the website of the Company i.e. https://dilipbuildcon.com/investors/shareholders-centre/ This is for your information and record. With Regards, For, Dilip Buildcon Limited Abhishek Shrivastava Company Secretary “Dilip Buildcon Limited Q1 FY-27 Earnings Conference Call” August 11, 2026 MANAGEMENT: MR. DEVENDRA JAIN – MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER, DILIP BUILDCON LIMITED MR. ROHAN SURYAVANSHI – HEAD, (STRATEGY & PLANNING), DILIP BUILDCON LIMITED MR. SANJAY BANSAL – CHIEF FINANCIAL OFFICER, DILIP BUILDCON LIMITED Page 1 of 17 Dilip Buildcon Limited August 11, 2026 Moderator: Ladies and gentlemen, good day and welcome to Dilip Buildcon Limited's Q1 FY2027 Earnings Conference Call. As a reminder all participants’ line will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing ‘*’ then ‘0’ on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Ashith Salian from Adfactors. Thank you and over to you, sir. Ashith Salian: Thank you. Good morning, everyone and thank you for joining us today to discuss the unaudited Financial Performance for Q1 FY2027. From the Management, we have Mr. Devendra Jain – MD & CEO, Mr. Rohan Suryavanshi – Head Strategy & Planning and Mr. Sanjay Bansal –CFO. Before we proceed, I would like to bring to your attention that certain statements made during the discussion may constitute forward-looking statements. These statements are based on our current expectations, assumptions, and beliefs regarding future developments and are inherently subject to various risks, uncertainties, and factors beyond our control. Such forward-looking statements involve both known and unknown risks, and we advise you to interpret them with caution. I will now handover the call to Mr. Rohan Suryavanshi for his opening remarks. Thank you and over to you, sir. Rohan Suryavanshi: Good morning, everyone. On behalf of the entire DBL family, I extend a warm welcome to all our investors and analysts to our Quarter 1 FY2027 Earnings Conference Call. The Financial Results and Investor Presentation for the quarter have already been uploaded on the Stock Exchanges, and I trust you had the opportunity to go through them. Let me begin with providing the broader sector environment: The infrastructure sector continues to enjoy strong policy support with sustained government focus on roads, railways, water, transmission, and renewables, all sectors in which we are currently actively engaged in. The awarding cycle in the 1st Quarter was on the softer side, as is usually the case, and particularly in the national highways on account of the ongoing recalibration of the Bharat Mala pipeline and the process-related delays. However, the medium- term signal from the government remains constructive. During the quarter, NHAI articulated its FY2027 project pipeline of 54 highways and expressway projects, covering 2442 kilometers, with a total capital cost of approximately Rs. 1.80 lakh crores, spread across 13 states. Of these, 26 projects are proposed under the EPC route, Page 2 of 17 Dilip Buildcon Limited August 11, 2026 21 under the HAM route, and 7 under the BOT route. This gives the industry a clear line of sight on award activity for the balance part of the year. It's also heartening that aligned with our own strategy is the acceleration of the government's own monetization program. NHAI has finalized 17 highway stretches spanning approximately 1693 kilometers for monetization in FY27 through its TOT and InvIT routes, and which is expected to generate proceeds in the range of Rs. 30,000 to 35,000 crores. This is part of the second national monetization pipeline, under which the road sector alone is targeted to unlock Rs. 4.42 lakh crores between FY26 and FY30. This validates the InvIT led capital recycling model we are building at DBL and reinforces the depth of the institutional market for the operating road assets we develop and transfer. Now, global uncertainties around crude prices definitely continue to weigh on fuel, bitumen, and related input costs. Working capital cycles across the industry remain elongated, and administrative delays on project approvals and payments have persisted through the quarter. In our assessment, these are cyclical rather than structural, and the medium-term thesis for Indian infrastructure remains firmly intact. Our approach therefore continues to be one of selective tendering, execution discipline, and preservation of balance sheet strength. Coming to DBL's performance: Our order book stood at Rs. 27,691 crores as of June 30th, 2026. With a well-diversified presence across 12 verticals, key segments include mining, roads and highways, irrigation, and renewable energy, which together form the core of our order book. This spread is a deliberate outcome of the DBL 2.0 strategy and gives a strong revenue visibility without dependence on any single segment. Out of this order book, in the MDO, the reported order book is about Rs. 5,224 crores, which represents only a 3-year rolling snapshot across the Siarmal, Pachhwara, and Pottangi SPVs. Beyond this, the balance contract value of the mining sector stands at approximately Rs. 1.03 lakh crores at current pricing. These assets provide a substantial pool of long-term contractor revenue beyond the reported order book. In FY27 Quarter 1, order inflow stood at approximately Rs. 268 crores. As I mentioned, this is the 1st Quarter and the ordering activity usually picks up at the end of the financial year, and we are very hopeful of maintaining our guidance of Rs. 10,000-12,000 crores of new order in this financial year. Currently, our bid pipeline stands at approximately Rs. 1.5 lakh crores across sectors. We continue to maintain our selective bidding approach, prioritizing profitability, cash flow visibility, and balanced risk-reward over pure top-line growth. Additionally, I am pleased to share that DBL has been declared the L1 bidder for the construction of Sikasar to Kodar Reservoir Link Canal Pipeline project in Chhattisgarh on a lump-sum basis, which is valued at about Rs. 2,524 crores. This win further reinforces our positioning in the water and irrigation vertical, which remains a strategic focus area within our diversified order book. On the execution front: Page 3 of 17 Dilip Buildcon Limited August 11, 2026 During the quarter, we have completed three HAM projects worth Rs. 1,700 crores, all forming part of the Bengaluru-Vijayawada Expressway in Andhra Pradesh. Each of these packages were completed ahead of the scheduled COD, consistent with a track record of nearly 90% early completion across our project portfolio. Our mining vertical, which is progressively becoming the most important driver of our long- term earning visibility and predictable cash generation. The total coal production for Quarter 1 FY27 stood at 4.79 million tonnes. At the Pottangi Bauxite, production is yet to commence, and we will update the market as we approach the operational startup. However, we remain firmly on course to reach our previously guided coal production of approximately 57 million tonnes by FY29. At that scale, DBL will be o [Showing first 8,000 characters — download PDF for full document]