Drake & Scull revenue more than doubles on project execution

Drake & Scull International (DSI) said annual revenues more than doubled in the first quarter, supported by the accelerated execution of projects across its infrastructure and water treatment portfolios.

The topline surged 152 percent to AED77 million ($21 million) in the quarter ended March, compared to AED30 million a year ago, the Dubai-listed engineering and development contractor said in a statement.

Net profit of more than AED4 million was up 81 percent year on year, thanks to improved project-level efficiency across the company’s active portfolio.

DSI said it continued to advance its core operations, maintaining momentum despite the Iran conflict, the statement said.

Passavant, the company’s wholly owned subsidiary, maintained strong operational momentum in water and environmental infrastructure projects across Europe, Asia and North Africa. In addition, the UAE construction and infrastructure operations progressed on plan.

The company said construction is underway on its mixed-use commercial building in Majan.

Further reading:

• Drake & Scull revenue doubled to $61m in 2025
• Dubai contractor Drake & Scull takes on developer role
• Drake & Scull awarded contracts worth over $270m

“Our contracting activities in the UAE and internationally are performing well. The strength of our balance sheet and the depth of our liquidity give us the confidence to continue executing on every front and under the best possible conditions,” group CEO Muin El Saleh said.

Total assets declined to AED583 million as of March, from AED611 million at the end of December, 2025.

Cash and bank balances stood at AED209 million despite regional uncertainty.

Shares of DSI closed nearly 1.3 percent lower at AED0.237 on Wednesday, down 15 percent so far this year.