LCC PROJECTS LIMITED IPO
Offer terms, application timeline, financial context and company details in one place.
Issue at a glance
- Issue size
- ₹0.04 crore
- Face value
- ₹5
- Issue method
- Book Building
- Fresh issue
- ₹0.04 crore
- Symbol
- LCCPROJECT
- ISIN
- INE1FPN01026
Subscription
34.73×overall subscribed
| Investor category | Applications | Shares bid | Subscribed |
|---|---|---|---|
| Qualified Institutional Buyers(QIBs) | — | 27,86,31,054 | 47.6× |
| Foreign Institutional Investors(FIIs) | — | 3,53,02,506 | — |
| Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 13,07,84,298 | — |
| Mutual funds | — | 8,21,916 | — |
| Others | — | 11,17,22,334 | — |
| Non Institutional Investors | — | 24,97,41,288 | 55.23× |
| Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | — | 16,32,77,826 | 54.16× |
| Corporates | — | 26,96,064 | — |
| Individuals(Other than RIIs) | — | 14,94,61,008 | — |
| Others | — | 1,11,20,754 | — |
| Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | — | 8,64,63,462 | 57.36× |
| Corporates | — | 4,67,670 | — |
| Individuals(Other than RIIs) | — | 8,27,10,066 | — |
| Others | — | 32,85,726 | — |
| Retail Individual Investors(RIIs) | — | 19,83,36,858 | 18.8× |
| Cut Off | — | 17,73,15,168 | — |
| Price bids | — | 2,10,21,690 | — |
| Total | — | 7.27 | 34.73× |
About the company
Incorporated in 2017, LCC Projects Limited offers engineering, procurement and construction (“EPC”) services in the irrigation and water supply projects segment. The company has executed projects in the irrigation and water supply segment, such as the construction of dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, water supply schemes, and other EPC projects. As of March 31, 2026, the company's Order Book comprises 103 projects, of which Sondwa Lift Micro Irrigation Project, Sidhi Bansagar Multi – Village Scheme, and Gandhi Sagar 1 Multi-Village Scheme are the top three projects. In the past, LCC have also executed notable projects, such as the construction of Tawa Left Bank Canthe al, Parbati Dam Projthe ect, Dudhai Sub Branch Canal Projectthe and AKOT Lift Irrigation Scheme.
Financial snapshot
Figures in ₹ crore unless otherwise specified.
| Period Ended | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Assets | 2,447.54 | 1,727.46 | 1,129.99 |
| Total Income | 3,639.45 | 2,941.01 | 2,449.79 |
| Profit After Tax | 286.44 | 223.63 | 122 |
| EBITDA | 519.9 | 401.04 | 241.37 |
| NET Worth | 888.41 | 604.99 | 382.83 |
| Reserves and Surplus | 752.41 | 468.99 | 348.83 |
| Total Borrowing | 860.65 | 649.55 | 422.3 |
What to consider
Business strengths
- Leading EPC PositionLCC is among the leading multidisciplinary EPC companies in India in the irrigation and water supply projects segment by market share. Its long operating experience and execution track record provide a strong foundation in the infrastructure sector.
- Strong Order Book & Diversified ProjectsThe company had an order book of 68 projects as of September 30, 2024, providing significant project visibility. Its portfolio spans irrigation, water supply, metro rail, mining and other infrastructure projects.
- In-House Technical CapabilitiesLCC has in-house project designing capabilities supported by robust technical knowledge. This allows the company to handle diverse and technically complex EPC projects across multiple infrastructure segments.
Key risks
- Dependence on Government ProjectsA significant portion of the company's business depends on projects awarded by state and central government departments, accounting for 88.81% of revenue in the six months ended September 30, 2024. Any reduction or delay in government project awards could adversely affect its operations and financial performance.
- Dependence on Successful BiddingThe company's growth depends significantly on its ability to successfully bid for and secure new irrigation and water supply projects. Failure to acquire new projects could adversely affect its future business growth.
- Project Cost OverrunsActual project execution costs may differ significantly from the assumptions made while submitting bids. If the company is unable to recover incremental expenses, cost overruns could negatively impact its financial condition, results of operations and cash flows.
Peer comparison
| Company | P/E (x) | Face value (₹) |
|---|---|---|
| LCC Projects Limited | 13.87 | 5 |
| Vishnu Prakash R Punglia Limited | - | 10 |
| Enviro Infra Engineers Limited | 19.14 | 10 |