Telge ProjectsShare price, financial results, shareholding and management
- Market cap
- ₹196 cr
- Stock P/E
- 31.2peers 30.4
- Book value
- ₹42.8
- Price to book
- 4.67
- EV / operating profit
- -
- Market cap to sales
- 4.87
- ROCE · FY26
- 24.3%
- ROE · FY26
- 23.5%
- ROE, 3-year average
- 56.4%
- Operating margin · FY26
- 22.4%peers 9.7%
- Sales growth, 3 years
- 75.6%
- Profit growth, 3 years
- 90.3%
- Debt to equity
- 0.23peers 0.44
- Borrowings
- ₹9.5 cr
- Interest cover
- 10.8×
- Cash from business / op. profit
- 9%
- Debtor days
- 108
- Pledged
- 0.00%
- Promoter holding
- 72.16%
- Change in promoter holding
- +0.51 pts
- Shareholders
- 297
- 52-week high / low
- ₹284 / ₹77
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Telge Projects share price chart
Close on 6 Nov 2026 · 0.00% on the day · Vol 1,200
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -21.6%
- 3 months
- +21.9%
- 6 months
- +84.5%
- 1 year
- +75.4%
- Traded a day, 20 days
- ₹0.20 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +57% | +16% |
| 3 years, a year | +76% | +90% |
About Telge Projects: business, products and customers
Telge Projects makes detailed digital building models and steel and structural drawings for builders, steel fabricators and architects, mostly in the United States, with the drawing work done by engineers in Maharashtra. Its shares trade on BSE SME.
Telge Projects sells engineering hours. Its engineers in Pune, Latur and Nashik build BIM models, steel and precast detailing, structural designs, 2D drawings and material take offs on software such as Tekla, SDS2 and Revit, and since March 2026 it also offers architectural and interior design. Each job is priced by estimating the man hours it needs, and the work runs in two shifts so that overseas clients get drawings back quickly.
The business model shapes the reported numbers. Clients in the United States sign with the US arms (Telge Global, Midwest Detailing, Draftco and Edward Farr Architects), which handle sales and client contact, while the Indian company does most of the work; so consolidated revenue is about twice the standalone figure, and the two cannot be read separately. Costs are mostly salaries, there is no factory or stock, and margins rest on the gap between the dollar rate billed and Indian pay, so they move with hourly rates, idle staff, Indian wage rises and the rupee.
Read more about the business
The prospectus names Mold-Tek Technologies, which also does structural steel detailing and BIM work for overseas clients, as the listed company with a similar line of business, while noting it is much larger. Clients include steel fabricators, general contractors, developers and architects across the US, UK, Europe and Australia.
What is new: the purchase of Edward Farr Architects in the United States in March 2026, an office in Nashik, in house tools that use AI to automate repetitive drafting, a plan to add mechanical, electrical and plumbing design, and a board decision on 28 September 2026 on a preferential issue and convertible warrants, put to shareholders on 23 October 2026.
From the prospectus (September 2025), the FY26 annual report, the May 2026 investor presentation and earnings call, and exchange announcements of September and October 2026.
Read the deeper study ↓In its favour
- Sales have grown very fast: 76% a year over three years.
- It earns a high return on the money it uses: ROCE 24% in FY26.
- It has little debt for its size: debt to equity 0.23.
- The promoters own a large part of the company: 72.16%.
To watch
- Revenue growth of 60% to 70% in FY27 that the managing director said the company is confident of (Earnings call, 19 May 2026, p.4).
- The preferential issue and convertible warrants considered by the board on 28 September 2026 and put to the meeting of 23 October 2026 (exchange announcements, 28 September and 1 October 2026).
- Use of the remaining IPO money, including ₹5 cr moved to acquisitions (Annual report FY26, p.34).
- Customer dues brought back towards about 60 days, as the CFO said (Earnings call, 19 May 2026, p.5).
- It paid no dividend in the past year.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Telge Projects revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months.
Telge Projects half-yearly results
SME companies report every six months · ₹ crore
| H1FY26 | |
|---|---|
| Sales | 16.74 |
| Expenses | 13.71 |
| Operating profit | 3.03 |
| OPM | 18.1% |
| Interest | 0.28 |
| Depreciation | 0.32 |
| Profit before tax | 2.43 |
| Net profit | 1.93 |
Telge Projects profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 4.48 | 7.43 | 12.37 | 25.61 | 40.21 |
| Expenses | 3.41 | 5.98 | 8.48 | 17.36 | 31.19 |
| Operating profit | 1.07 | 1.45 | 3.89 | 8.25 | 9.02 |
| OPM | 23.9% | 19.5% | 31.4% | 32.2% | 22.4% |
| Other income | 0.06 | 0.07 | 0.09 | 0.54 | 0.53 |
| Interest | 0.10 | 0.10 | 0.19 | 1.32 | 0.81 |
| Depreciation | 0.58 | 0.17 | 0.19 | 0.45 | 0.77 |
| Profit before tax | 0.45 | 1.25 | 3.60 | 7.02 | 7.97 |
| Tax rate | 28.9% | 27.2% | 26.1% | 22.8% | 21.3% |
| Net profit | 0.31 | 0.91 | 2.66 | 5.42 | 6.27 |
| EPS ₹ | 3.10 | 9.10 | 26 | 50.78 | 7 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Telge Projects profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 23.9% | 19.5% | 31.4% | 32.2% | 22.4% |
| Tax rate | 28.9% | 27.2% | 26.1% | 22.8% | 21.3% |
| ROCE | · | 30.8% | 62.9% | 58.9% | 24.3% |
| ROE | · | 50.4% | 78.7% | 66.9% | 23.5% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Telge Projects debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Telge Projects balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1.03 | 9.79 |
| Reserves | 0.51 | 1.10 | 3.66 | 10.51 | 32.07 |
| Net worth | 1.51 | 2.10 | 4.66 | 11.54 | 41.86 |
| Borrowings | 2.64 | 2.53 | 2.76 | 9.38 | 9.46 |
| Other liabilities | 0.65 | 1.38 | 2.95 | 4.69 | 9.39 |
| Total liabilities | 4.80 | 6.01 | 10.37 | 25.61 | 60.71 |
| Fixed assets | 2.84 | 1.64 | 4.87 | 14.15 | 15.51 |
| Capital work in progress | 0 | 0 | 0 | 0.03 | 1.29 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other assets | 1.96 | 4.37 | 5.50 | 11.43 | 43.91 |
Telge Projects cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | · | 0.51 | 3.10 | 3.20 | 0.80 |
| Cash from investing | · | -0.03 | -3.44 | -9.31 | -2.95 |
| Cash from financing | · | -0.23 | 0.33 | 7.16 | 23.13 |
| Net cash flow | · | 0.25 | -0.01 | 1.05 | 20.98 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 121 | 114 | 87 | 72 | 108 |
| Inventory days | 0 | · | · | · | · |
| Cash conversion cycle | 121 | 114 | 87 | 72 | 108 |
| Working capital days | 95 | 117 | 20 | 39 | 87 |
Telge Projects peers and competitors
Listed SME companies in the same industryBy sales, Telge Projects is number 54 of the 58 listed SME companies in construction.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| NACDAC Infrastructure | 25 | 5.6 | 63.2 | 4.4 | 9.3% | 0.27 |
| Popular Foundations | 56 | 55.7 | 61.8 | 1 | 3.7% | 0.33 |
| Chiraharit | 55 | 608.8 | 54.9 | 0.1 | 2.7% | 0.33 |
| Samay Project Services | 67 | 9.9 | 50.2 | 6.8 | 14.9% | 0.09 |
| Suyog Gurbaxani Funicular Ropeways | 196 | 33.0 | 49.3 | 6 | 49.8% | 4.17 |
| Mewar Hi-Tech Engineering | 25 | 28.2 | 47.3 | 0.9 | 13.1% | 1.90 |
| Manav Infra Projects | 51 | 12.7 | 41.6 | 4 | 16.0% | 0.47 |
| Telge Projects | 196 | 31.2 | 40.2 | 6.3 | 22.4% | 0.23 |
| Agni Green Power | 28 | 32.6 | 38.6 | 0.8 | 10.0% | 0.51 |
| Ranjeet Mechatronics | 27 | 81.8 | 29.1 | 0.3 | 5.5% | 0.42 |
| Abhishek Integrations | 17 | 21.4 | 28.3 | 0.8 | 7.9% | 0.94 |
| Median of the 10 others | 40 | 30.4 | 48.3 | 0.9 | 9.7% | 0.44 |
Telge Projects shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little more than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders is about the same.
Telge Projects shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Dec 25 | Mar 26 | Jun 26 | |
|---|---|---|---|
| Promoters | 71.65% | 71.65% | 72.16% |
| Foreign investors (FIIs) | 2.11% | 1.74% | - |
| Indian institutions (DIIs) | 9.62% | 10.16% | - |
| Number of shareholders | 269 | 239 | 297 |
Telge Projects study: the business from its own documents
Read from 7 of the company's own documentsTelge Projects key facts from the filings
Each figure with the document it comes from
- Order book
- ₹25 cr
- Active orders in May 2026, about ₹10 cr of it architectural work from Edward Farr; about 80% is from the US.Earnings call, 19 May 2026, p.3 and p.9
- Bids pending
- ₹6 cr
- Requests for quotes in the bidding stage that the company said could convert within weeks.Earnings call, 19 May 2026, p.4; Investor presentation, May 2026, p.5
- Standalone share of sales
- ₹20.6 cr of ₹40.2 cr
- FY26 revenue of the Indian company against the group; the US arms book the client contracts.Annual report FY26, p.18
- Hourly rates
- $25 to 35 → $45 to 60
- What the company used to charge per hour and what its US team is now aiming for.Earnings call, 19 May 2026, p.10
- Largest customer
- 39.3%
- Share of FY25 revenue from the single biggest client; the top ten gave 63.4%.Prospectus, p.37
Show 5 more facts
- Repeat business
- 60% to 70%
- Share of revenue from existing clients, out of 96 customers served in FY26.Earnings call, 19 May 2026, p.10 and p.12
- Team
- 200 to 250 people
- About 25 in the US and the rest in India; about 70 people were added in FY26, some kept on the bench for coming work.Earnings call, 19 May 2026, p.9
- Edward Farr Architects
- 2.5 times EBITDA
- Price paid for the US architecture firm bought on 3 March 2026, which had about ₹14 cr of sales in calendar 2025 at a 10% to 12% profit margin.Earnings call, 19 May 2026, p.6; Annual report FY26, p.25
- IPO money used
- ₹6.8 cr of ₹24.5 cr
- Spent by March 2026; ₹5 cr meant for Pune offices was moved to acquisitions in March 2026.Annual report FY26, p.34; our arithmetic
- Promoter holding
- 71.50%
- Held by Shraddha Telge at March 2026, after the IPO and a six for one bonus issue.Annual report FY26, p.67
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
In May 2026 the managing director said the company is confident of 60% to 70% revenue growth in FY27 and aims to hold the margins of the March 2026 quarter, with the order book growing each month as it did in FY26. The company says it is targeting bigger projects of ₹8 cr to ₹10 cr against ₹2 cr to ₹3 cr before, will add only execution staff rather than more leaders in FY27, and is evaluating acquisitions, with mechanical, electrical and plumbing design as the next service. It also said it was not planning to raise equity that year; on 28 September 2026 the board considered a preferential issue and convertible warrants.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Telge Projects earns the gap between what US and other overseas clients pay for drawing work and what it costs to do that work in India, with no factory or stock to fund.
Its weak spots are a few large clients, heavy reliance on the US, and a pay bill that grew faster than sales in the latest year.
AverageCan it set its own prices?It quotes each job on hours and is trying to raise rates through its US team, but it competes on cost.
AverageHow strong is it against rivals?A US front office with Indian engineers sets it apart from purely offshore shops, but the skills and software are widely available.
WatchWho are its customers?One client has given a large slice of sales, and most work comes from the United States.
AverageDoes it need a lot of money?It needs little in machines, but customer dues have stretched and it pays for growth through people and acquisitions.
AverageCan it keep finding new work?Most revenue comes from returning clients and new ones are being added, but the order book covers only a few months.
AverageDo good and bad years swing a lot?Work is spread over many short and long projects, with a mild seasonal pattern.
Who runs Telge Projects?
Promoters, directors and officers; tap a name for the background
SSShraddha Shailesh TelgePromoter, Chairman, Managing Director and Chief Executive Officer · holds 71.50%
Holds a diploma in civil engineering from Government Polytechnic, Amravati (2011) and a BTech in civil engineering from College of Engineering Pune (2014); worked at Precision Precast Solutions from August 2014 to April 2017. With the company since its incorporation in 2018, Chief Executive Officer from January 2024 and Managing Director from June 2025.
Prospectus, p.171 and p.173; Annual report FY26, p.67VSVinayak Sahebrao ManeChief Financial Officer
Holds a BCom from the University of Pune and an MBA in financial management from Savitribai Phule Pune University, with more than eleven years in accounts and finance at Uttam Tools and Hira Technologies; joined in May 2025.
Prospectus, p.181 and p.182NANilesh Anandrao ChincholkarChief Operating Officer
Holds a BE in civil engineering from North Maharashtra University (2012) and has been with the company since 2018, leading project execution, design and technical oversight.
Prospectus, p.182TVTelge Vishal UttamNon Executive Director
Holds a BE in mechanical engineering from the University of Pune (2011) and more than 13 years in engineering; a director of Manar Tools and Manar Farminex. The prospectus states that Telge Vishal Uttam is a brother in law of Shraddha Shailesh Telge and the spouse of Priti Vishal Telge.
Prospectus, p.172, p.173 and p.174PVPriti Vishal TelgeNon Executive Director
Holds bachelor's and master's degrees in management studies from the University of Mumbai and more than six years in human resources at Uttam Tools and Manar Tools; on the board since April 2024.
Prospectus, p.171 and p.173RPRavi PanditIndependent Director
A chartered accountant and company secretary with more than 21 years in accounts, finance and compliance; a practising chartered accountant since 2015 and on the board since January 2024.
Prospectus, p.172 and p.173ASAvinash Sureshkumar SachdevIndependent Director
Holds a BCom from North Maharashtra University and more than five years in corporate advisory and compliance; a director of Vipram Technologies and Corplan Advisors, on the board since 2025.
Prospectus, p.172 and p.173Telge Projects latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 30 June 2026: promoters 71.65% to 72.16%.
Telge Projects announcements
12 on record, latest first; each opens the filing on the exchange
- Company UpdatePursuant to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, we enclose herewith copy of confirmation certificate dated October 6, 20PDF ↗
- AGM/EGMNotice of Extra-Ordinary General Meeting of the company to be held on Friday, October 23, 2026 at 11.00 A.M. (IST) through Video Conferencing or Other Audio VisPDF ↗
- Company UpdateNewspaper publication for the Extra Ordinary General Meeting of the company, e-voting and other informationPDF ↗
- Company UpdateThe Board of Directors of the Company at its meeting held today i.e. Monday , September 28, 2026, has inter alia, considered the Increase of share capital of tPDF ↗
- Company UpdateFurther to the outcome of the meeting of Board of Directors of the company held today i.e. September 28, 2026, approving the proposed preferential issue, the coPDF ↗
- Company UpdateThe Board of Directors of the Company at its meeting held today i.e. Monday , September 28, 2026, has inter alia, considered the Issue of Convertible Warrants PDF ↗
- Board MeetingPursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the CoPDF ↗
- Insider Trading / SASTTelge Projects Limited has informed the stock exchange regarding trading window closurePDF ↗
- Board MeetingTelge Projects Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/09/2026 ,inter alia, to consider and approve proPDF ↗
- Company UpdateCompany executives will participate in the Bharat Connect Conference: Rising Stars - September 2026 organised by Arihant Capital dated 25 September, 2026PDF ↗
- Company UpdatePursuant to Regulation 7(2)(b) of SEBI (Prohibition of Insider Trading) Regulations, 2015 we are enclosing herewith the disclosure received by the company undePDF ↗
- AGM/EGMDisclosure of voting results of 9th Annual General Meeting of the Company along with Scrutinizer''s ReportPDF ↗
Telge Projects annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 31 May 2026 ↗read
- 30 Nov 2025 ↗read
- FY26 ↗read
Telge Projects share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Telge Projects' data · 7
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (97,90,148 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- !Earnings per share changes basis between FY25 (₹50.78) and FY26 (₹7.00) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Telge Projects
What does Telge Projects do?
Telge Projects makes detailed digital building models and steel and structural drawings for builders, steel fabricators and architects, mostly in the United States, with the drawing work done by engineers in Maharashtra. Its shares trade on BSE SME.
What is the share price of Telge Projects?
₹200 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Telge Projects?
₹196 cr at the close on 6 Nov 2026, on 97,90,148 shares.
What is the P/E of Telge Projects?
31.2 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Telge Projects' revenue and profit?
Revenue ₹40 cr and profit after tax ₹6 cr in FY26.
Who are the promoters of Telge Projects?
Shraddha Shailesh Telge; promoters held 72.16% at 30 June 2026.
What is Telge Projects' website?
telgeprojects.com
More SME companies like Telge Projects
Other listed SME companies in construction, the closest in size first, each read from its own documents.
- Solarium Green EnergySOLARIUM · BSE SME · ConstructionMarket cap ₹195 cr
- Current InfraprojectsCURRENT · NSE Emerge · Construction · listed 2025Market cap ₹193 cr
- Pratham EPC ProjectsPRATHAM · NSE Emerge · Construction · listed 2024Market cap ₹200 cr
- Suyog Gurbaxani Funicular RopewaysSGFRL · BSE SME · ConstructionMarket cap ₹204 cr
- HVAX TechnologiesHVAX · NSE Emerge · Construction · listed 2024Market cap ₹188 cr
- Infrax RenewableINFRAX · BSE SME · ConstructionMarket cap ₹215 cr
Built from 3 investor presentations, 2 earnings call transcripts, 1 offer document, 1 annual report, 12 exchange announcements, 3 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.