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There is no dependable published sell-side consensus for In Construction Holdings Limited (HKEX:1500). The clearest benchmark is its reported FY2025/26 result for the year ended 31 March 2026: revenue of HK$340.7 million, net profit of HK$64.8 million and basic EPS of 7.8 Hong Kong cents. That was a sharp turnaround from FY2024/25, when the company recorded HK$273.6 million of revenue and an HK$18.911 million loss.
Estimate pages should therefore be read as historical or algorithmic reference points, not as a verified forecast. Simply Wall St displays approximately HK$341 million of revenue and HK$65 million of earnings for 31 March 2026 without showing an average analyst count, while StockAnalysis lists analysts and a price target as unavailable. A sensible forward view must instead test project completion, new awards, margins and concentration risk.
What are In Construction Holdings’ latest earnings?
The latest figures are reported FY2025/26 actuals, not forward estimates. The year ended 31 March 2026 produced the company’s strongest result in the periods shown.
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Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstall| Period | Revenue | Gross profit | Net profit/(loss) | Basic EPS |
|---|---|---|---|---|
| FY2024/25 | HK$273.6m | HK$0.234m | HK$(18.911)m | HK$(0.023) |
| 1H FY2025/26 | HK$177.25m | HK$34.592m | HK$27.444m | HK$0.0331 |
| FY2025/26 | HK$340.7m | HK$78.5m | HK$64.8m | HK$0.078 |
The annual result implies a gross margin of about 23.0%, compared with almost no gross profit in the prior year. The annual report says nine projects generated the FY2025/26 revenue and gross profit. The five largest projects contributed HK$335.5 million, so almost all reported revenue came from that group; one project alone represented 76.4% of total revenue.
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Did In Construction Holdings meet its profit guidance?
Yes. In June 2026, management guided to consolidated profit of approximately HK$62.5 million to HK$67.5 million for the year ended 31 March 2026. The reported HK$64.8 million net profit landed inside that range, indicating that the guidance was broadly accurate for the period covered.
The comparison is with a HK$18.9 million loss in FY2024/25, so the guidance described a turnaround rather than a modest year-on-year improvement. It does not constitute guidance for FY2026/27 or FY2027/28.
Is there an analyst consensus or price target for HKEX:1500?
Accessible estimate pages do not establish a reliable named-analyst consensus. Simply Wall St’s displayed table reaches 31 March 2026 at roughly HK$341 million of revenue and HK$65 million of earnings, but it shows no average analyst count. StockAnalysis marks both analysts and price target as unavailable.
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Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Those displays can be useful for locating reported numbers, but they should not be presented as a consensus revenue, profit or EPS forecast. There is no dependable published FY2027 revenue, earnings or EPS consensus in the available material.
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Why did 1500 turn profitable?
The turnaround reflects the profitability of projects recognized during FY2025/26 and the much higher gross profit generated on that work. Revenue rose from HK$273.6 million to HK$340.7 million, while gross profit increased from HK$0.234 million to HK$78.5 million.
Because the company is a project-based Hong Kong foundation contractor, timing and contract execution matter more than a smooth recurring-revenue pattern. Its work can include foundation construction, demolition, site formation, ground-investigation field work and general building work, often delivered as a private-sector design-and-build main contractor.
How much backlog or forward visibility does the company have?
At 31 March 2026, four projects were still in progress with HK$53.0 million of outstanding contract value. That amount is an indicator of work remaining under existing contracts, not a guaranteed amount of future revenue, profit or cash flow; recognition depends on completion, certification, claims and final-account settlement.
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1Scan for outdated or missing drivers - takes under a minute2Clear out junk files and repair common Windows errors3Fix the driver behind crashes, sound loss and screen glitchesVisibility is also highly concentrated. The largest FY2025/26 project supplied 76.4% of revenue, meaning that the timing or margin of one contract can materially change a year’s results. The five largest projects contributed HK$335.5 million of the HK$340.7 million total.
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What should investors use for forward estimates?
With no dependable consensus, estimates should be built as scenarios around operating events rather than treated as a single precise number.
Completion and settlement
Track when the four remaining projects finish, whether extensions of time are granted, and when variations or final accounts are agreed. Earlier completion can pull revenue and profit into the forecast period; delays can defer recognition and increase costs.
New project awards
No new projects were awarded in either FY2025/26 or FY2024/25. Management said more development projects had been inviting foundation-work tenders since late 2025, but described market conditions as weak and uncertain. Tender invitations are therefore an opportunity, not contracted backlog.
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Margin normalization
The 23.0% FY2025/26 gross margin is an important reference point, but it should not automatically be rolled forward. A model should test lower, similar and higher margins against the actual mix of projects and the cost of completing them.
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Concentration and cash conversion
Any estimate should show how much revenue depends on the largest contract, then check whether accounting profit converts into operating cash. Claims, retention, progress payments and final settlements can make cash timing differ from reported earnings.
What risks could make estimates wrong?
The annual report identifies regulatory-registration requirements, uncertainty in construction progress, remedial costs, delays and claims as material risks. These can reduce margins, postpone revenue recognition or create costs after work appears substantially complete.
The absence of new awards in the last two financial years adds another risk: the current project base may not be replaced quickly enough once contracts finish. Conversely, a sustained increase in tender activity could improve future utilization, but only awarded and executable contracts should enter a base-case forecast.
What does the company do?
In Construction Holdings describes itself as principally a contractor in Hong Kong’s foundation industry. Its associated works span demolition, site formation, ground investigation field works and general building, with an emphasis on private-sector design-and-build projects and main-contractor roles.
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The FY2025/26 annual report also says the group used B100 biodiesel generators on ongoing projects and received a HK$1.07 million Construction Innovation and Technology Fund grant. These items provide operating context but are not substitutes for contract awards or margin evidence when forecasting earnings.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How should a practical estimate table be structured?
Any future comparison of company guidance, third-party estimates and scenarios should keep the same columns: revenue growth from new awards, completion timing, gross-margin assumption, concentration or backlog, cash conversion and confidence level. Label FY2025/26 numbers as reported actuals, keep management guidance separate, and mark scenario outputs as analytical assumptions rather than consensus.
Frequently Asked Questions
Why do estimate websites show numbers when no analyst consensus is available?
Some services display rounded historical results, automated models or limited contributor estimates even when they do not identify a meaningful analyst sample. A number shown for 31 March 2026 should therefore be checked against the company’s annual results before being called a forecast.
Can the HK$53 million outstanding contract value be counted as next year’s revenue?
No. It is the value remaining on four projects at 31 March 2026, while revenue recognition depends on work completed, certification, contract changes and settlement timing. It is better treated as an execution indicator than as guaranteed next-year sales.
Is 7.8 Hong Kong cents an EPS estimate?
No. It is the reported basic EPS for FY2025/26. Future EPS would depend on subsequent profit, project timing and the company’s share count, none of which is supplied as a verified forward consensus here.
What would confirm that the turnaround is continuing?
Investors would look for awarded contracts replacing completed work, stable project margins and operating cash that broadly follows reported profit. A tender invitation alone would not provide the same evidence as a signed, executable contract.
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