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Indian (NIFTY) Construction Industry Analysis

UpdatedNov 14, 2025
DataAggregated Company Financials
Companies211
  • 7D0.8%
  • 3M3.6%
  • 1Y-1.5%
  • YTD-7.4%

In the last week, the Construction industry is flat overall, with Afcons Infrastructure standing out by going down 7.8%. In line with that, the industry has also been flat over the past 12 months. As for the next few years, earnings are expected to grow by 17% per annum.

Industry Valuation and Performance

Has the Indian Construction Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 15 Nov 2025₹10.9t₹6.0t₹399.4b19x27.2x1.8x
Mon, 13 Oct 2025₹10.8t₹5.9t₹429.3b20.7x25.2x1.8x
Wed, 10 Sep 2025₹10.3t₹5.8t₹424.6b20.6x24.2x1.8x
Fri, 08 Aug 2025₹10.3t₹5.8t₹426.9b20.2x24.2x1.8x
Sun, 06 Jul 2025₹10.6t₹5.7t₹412.5b23.3x25.8x1.9x
Tue, 03 Jun 2025₹10.6t₹5.7t₹411.0b22.3x25.8x1.9x
Thu, 01 May 2025₹9.4t₹5.5t₹413.4b20.2x22.6x1.7x
Sat, 29 Mar 2025₹9.6t₹5.5t₹413.0b19.5x23.3x1.7x
Mon, 24 Feb 2025₹9.4t₹5.5t₹412.9b20.9x22.7x1.7x
Wed, 22 Jan 2025₹10.6t₹5.4t₹337.9b26.8x31.4x2x
Fri, 20 Dec 2024₹11.3t₹5.3t₹332.9b28.5x34x2.1x
Sun, 17 Nov 2024₹10.5t₹5.3t₹331.8b25.4x31.6x2x
Tue, 15 Oct 2024₹10.9t₹5.0t₹310.4b29x35x2.2x
Thu, 12 Sep 2024₹11.1t₹5.0t₹310.2b28.3x35.9x2.2x
Sat, 10 Aug 2024₹11.0t₹4.9t₹289.8b28.4x37.9x2.2x
Mon, 08 Jul 2024₹11.0t₹4.8t₹281.9b31x39.1x2.3x
Wed, 05 Jun 2024₹9.7t₹4.8t₹282.3b23.2x34.3x2x
Fri, 03 May 2024₹9.9t₹4.6t₹269.9b28.5x36.8x2.2x
Sun, 31 Mar 2024₹9.1t₹4.5t₹270.4b24.6x33.8x2x
Tue, 27 Feb 2024₹9.0t₹4.5t₹269.9b26.1x33.3x2x
Thu, 25 Jan 2024₹8.8t₹4.4t₹262.2b25.9x33.7x2x
Sat, 23 Dec 2023₹8.0t₹4.4t₹261.9b23.8x30.6x1.8x
Mon, 20 Nov 2023₹7.3t₹4.4t₹262.1b22.6x27.9x1.7x
Wed, 18 Oct 2023₹7.2t₹4.2t₹241.0b23x29.8x1.7x
Fri, 15 Sep 2023₹7.1t₹4.3t₹246.2b23.4x28.7x1.6x
Sun, 13 Aug 2023₹6.3t₹4.3t₹245.0b21.4x25.9x1.5x
Tue, 11 Jul 2023₹5.8t₹4.1t₹233.3b20.1x25x1.4x
Thu, 08 Jun 2023₹5.6t₹4.1t₹230.8b19.6x24.2x1.4x
Sat, 06 May 2023₹5.6t₹4.0t₹211.1b20.1x26.5x1.4x
Mon, 03 Apr 2023₹5.0t₹4.0t₹202.9b18.2x24.8x1.3x
Wed, 01 Mar 2023₹4.9t₹4.0t₹202.8b17.9x24.4x1.2x
Fri, 27 Jan 2023₹5.1t₹3.8t₹196.0b19.8x26.1x1.3x
Sun, 25 Dec 2022₹4.7t₹3.8t₹185.9b18.3x25.5x1.3x
Tue, 22 Nov 2022₹4.7t₹3.8t₹186.4b18.8x25x1.2x
Price to Earnings Ratio

25x


Total Market Cap: ₹4.7tTotal Earnings: ₹186.4bTotal Revenue: ₹3.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Construction Industry Price to Earnings3Y Average 28.9x202320242025
Current Industry PE
  • Investors are relatively neutral on the Indian Construction industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 28.9x.
  • The industry is trading close to its 3-year average PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Construction industry have grown 29% per year over the last three years.
  • Revenues for these companies have grown 17% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Industrials industry?

IN Market0.97%
Industrials1.60%
Construction0.76%
Construction and Engineering0.76%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
500510 Larsen & Toubro₹4.00k2.9%
+₹156.3b		13.3%PE34.5x
VOLTAS Voltas₹1.35k2.2%
+₹9.7b		-20.9%PE81.6x
KEC KEC International₹791.554.2%
+₹8.6b		-21.3%PE30.8x
532395 AXISCADES Technologies₹1.56k11.2%
+₹6.7b		205.9%PE74.1x
RVNL Rail Vikas Nigam₹321.051.0%
+₹6.4b		-23.5%PE59x

Latest News

TECHNOE
₹1,227.40
Techno Electric & Engineering
7D
-4.4%
1Y
-15.1%
532395
₹1,557.85
AXISCADES Technologies
7D
11.2%
1Y
205.9%
AFCONS
₹407.65
Afcons Infrastructure
7D
-7.8%
1Y
-14.1%
VOLTAS
₹1,350.90
Voltas
7D
2.2%
1Y
-20.9%

VOLTAS: Upcoming Financial Results Will Guide Measured Outlook Amid Mixed Forecasts

Analysts have raised Voltas's price target from ₹1,386.05 to ₹1,407.59. They cite slight improvements in revenue growth and fair value estimates, even though there is a modest dip in profit margin forecasts.
500510
₹3,995.30
Larsen & Toubro
7D
2.9%
1Y
13.3%

500510: Global Manufacturing Wins and International Partnerships Will Shape Near-Term Performance

Analysts have raised their price target for Larsen & Toubro from ₹4,196.29 to ₹4,367.81. They cite slight improvements in expected profit margins and a marginally higher discount rate as key factors in their updated outlook.
IRB
₹42.96
IRB Infrastructure Developers
7D
-3.4%
1Y
-10.1%
KEC
₹791.55
KEC International
7D
4.2%
1Y
-21.3%

KEC International Limited Just Missed Earnings - But Analysts Have Updated Their Models

Nov 13
KEC International Limited Just Missed Earnings - But Analysts Have Updated Their Models
TRANSRAILL
₹652.00
Transrail Lighting
7D
-5.9%
1Y
n/a
RVNL
₹321.05
Rail Vikas Nigam
7D
1.0%
1Y
-23.5%
GRINFRA
₹1,098.30
G R Infraprojects
7D
-4.0%
1Y
-30.0%
VIKRAN
₹108.97
Vikran Engineering
7D
13.5%
1Y
n/a
500294
₹183.95
NCC
7D
-5.8%
1Y
-34.3%

500294: Record New Orders And Strong Margins Will Drive Upside Potential

Analysts have updated their price target for NCC downward from $265.69 to $258.38. They cite expectations for higher revenue growth and profit margins, as well as a rising discount rate impacting valuation.
532309
₹354.40
GE Power India
7D
20.5%
1Y
-7.5%
513269
₹426.40
Man Industries (India)
7D
11.1%
1Y
44.5%
509496
₹824.70
Cemindia Projects
7D
-3.7%
1Y
59.2%

509496: Order Wins And Dividend Approval Will Support Measured Upside Amid Urbanization

Analysts have raised their price target for Cemindia Projects from ₹828 to ₹865, citing increased expectations for revenue growth and improved profit margins. What's in the News Cemindia Projects Limited announced new orders worth ₹32,580 million secured during Q2 FY26.
KPIL
₹1,253.20
Kalpataru Projects International
7D
-3.3%
1Y
4.5%

Kalpataru Projects International Limited Just Recorded A 5.7% EPS Beat: Here's What Analysts Are Forecasting Next

Nov 04
Kalpataru Projects International Limited Just Recorded A 5.7% EPS Beat: Here's What Analysts Are Forecasting Next