Sanghvi Movers Targets Rs 1,000 Crore Revenue In FY26

Asia’s largest crane rental service provider, Sanghvi Movers, is confident of achieving revenue of Rs 1,000 crore in FY26, according to its Managing Director (MD), Rishi Sanghvi. This will be achieved thanks to the company’s strong order book. 

“Since our existing order book is around 950 crores, we do believe we will end the year with about Rs 1,000 crores. Initially, we had given guidance of 30% growth to the overall revenue. And I think we are on track, we will definitely cross that target,” he said during a conversation with NDTV Profit on Sept. 16.  

The total order book now stands at Rs 950 crore, all of which is executable within the current financial year, he said. Sanghvi expressed confidence in securing additional orders in the second half of FY26.

“We are confident of securing orders in the second half of the year, which will continue to be executed in this financial year. These orders will primarily come from the whole crane rental business, which is a high-Ebitda business. And we see demand for cranes coming from all sectors, primarily steel, cement, nuclear, thermal and renewable power, oil and gas, refineries, metros, railways and bridges,” the top executive highlighted. 

Sangreen Future Renewables Ltd., a material subsidiary of Sanghvi Movers, recently secured orders worth Rs 292 crore from Independent Power Producers (IPPs).

“Our scope of work includes complete wind BOP (balance of plant) execution, which includes mechanical, civil, electrical and logistics. So, we support the independent power producers from conceptualisation to commission,” he explained. 

The MD highlighted that the orders carry an Ebitda margin of 10-12%. “So, we are targeting a 10 to 12% EBITDA profile for orders. However, a large portion of this order will be executed by inter-company transaction through our core crane rental business.”

He clarified that a part of the Rs 292 crore order will spill over into the next fiscal year and is not included in the current year's executable figure of Rs 950 crore.

Sanghvi Movers has planned a significant capital expenditure of nearly Rs 500 crore for FY26. While a large portion will be invested in its Indian operations, a substantial amount is earmarked for international expansion.

“This year, as a group, we will incur a capex of Rs 490 crore, so approximately Rs 500 crore. Of this, a large portion will come to India……Around Rs 200 crore will be dedicated to Saudi Arabia,” he concluded.

Shares of Sanghvi Movers closed 4.13% higher at Rs 387 apiece on the NSE, while the benchmark Nifty50 ended at 25,239.1, up 0.68%.