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Indian (NIFTY) Construction and Engineering Industry Analysis

UpdatedJan 12, 2026
DataAggregated Company Financials
Companies213
  • 7D-4.8%
  • 3M-3.0%
  • 1Y-4.5%
  • YTDn/a

Over the last 7 days, the Construction and Engineering industry has dropped 4.8%, driven by Larsen & Toubro declining 3.3%. Overall the industry is down 4.5% in 12 months. Looking forward, earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 12 Jan 2026₹10.6t₹6.1t₹490.8b17.2x21.6x1.7x
Wed, 10 Dec 2025₹10.6t₹6.1t₹490.6b17.7x21.6x1.7x
Fri, 07 Nov 2025₹10.8t₹6.0t₹434.5b20.1x24.8x1.8x
Sun, 05 Oct 2025₹10.7t₹5.9t₹428.3b20.7x24.9x1.8x
Tue, 02 Sep 2025₹10.2t₹5.8t₹424.0b20.6x24.1x1.8x
Thu, 31 Jul 2025₹10.5t₹5.8t₹425.0b21x24.7x1.8x
Sat, 28 Jun 2025₹10.7t₹5.7t₹412.3b22.4x26.1x1.9x
Mon, 26 May 2025₹10.3t₹5.7t₹415.2b22.2x24.8x1.8x
Wed, 23 Apr 2025₹9.6t₹5.5t₹413.4b22x23.2x1.7x
Fri, 21 Mar 2025₹9.4t₹5.5t₹412.9b19.7x22.9x1.7x
Sun, 16 Feb 2025₹9.2t₹5.5t₹413.1b20.7x22.3x1.7x
Tue, 14 Jan 2025₹10.1t₹5.4t₹334.4b25.9x30.3x1.9x
Thu, 12 Dec 2024₹11.8t₹5.3t₹332.9b28.1x35.3x2.2x
Sat, 09 Nov 2024₹11.0t₹5.3t₹327.6b27.7x33.6x2.1x
Mon, 07 Oct 2024₹11.0t₹5.0t₹310.4b28.1x35.4x2.2x
Wed, 04 Sep 2024₹11.5t₹5.0t₹310.3b29x37.1x2.3x
Fri, 02 Aug 2024₹11.5t₹4.9t₹287.4b29.9x40x2.3x
Sun, 30 Jun 2024₹10.6t₹4.8t₹281.9b29.3x37.5x2.2x
Tue, 28 May 2024₹10.3t₹4.8t₹286.0b26.6x36.1x2.2x
Thu, 25 Apr 2024₹9.9t₹4.6t₹269.7b28.9x36.5x2.2x
Sat, 23 Mar 2024₹8.9t₹4.5t₹270.5b25.2x32.8x2x
Mon, 19 Feb 2024₹8.8t₹4.5t₹269.8b27.2x32.5x1.9x
Wed, 17 Jan 2024₹8.6t₹4.4t₹262.1b25.8x32.6x1.9x
Fri, 15 Dec 2023₹8.0t₹4.4t₹261.9b24.1x30.4x1.8x
Sun, 12 Nov 2023₹7.1t₹4.4t₹260.2b21.8x27.2x1.6x
Tue, 10 Oct 2023₹7.2t₹4.3t₹247.9b22.1x28.8x1.7x
Thu, 07 Sep 2023₹6.7t₹4.3t₹246.2b22.9x27.4x1.6x
Sat, 05 Aug 2023₹6.3t₹4.2t₹241.9b20.2x26.1x1.5x
Mon, 03 Jul 2023₹5.8t₹4.1t₹233.3b19.7x24.9x1.4x
Wed, 31 May 2023₹5.4t₹4.1t₹219.4b19.4x24.4x1.3x
Fri, 28 Apr 2023₹5.3t₹4.0t₹211.3b19.5x25.2x1.3x
Sun, 26 Mar 2023₹5.0t₹4.0t₹202.8b18.5x24.7x1.3x
Tue, 21 Feb 2023₹5.2t₹4.0t₹202.8b17.9x25.5x1.3x
Thu, 19 Jan 2023₹5.3t₹3.9t₹193.0b19.6x27.5x1.4x
Price to Earnings Ratio

27.5x


Total Market Cap: ₹5.3tTotal Earnings: ₹193.0bTotal Revenue: ₹3.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Construction and Engineering Industry Price to Earnings3Y Average 28.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Construction and Engineering industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 21.6x which is lower than its 3-year average PE of 28.8x.
  • 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 and Engineering industry have grown 37% per year over the last three years.
  • Revenues for these companies have grown 16% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Indian Construction and Engineering compare with similar industries?

IN Market-2.80%
Industrials-3.64%
Construction-4.79%
Construction and Engineering-4.79%
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
VOLTAS Voltas₹1.47k2.6%
+₹12.1b		-11.8%PE88.6x
532395 AXISCADES Technologies₹1.40k2.0%
+₹1.1b		80.3%PE66.7x
POWERMECH Power Mech Projects₹2.36k1.5%
+₹1.1b		-9.3%PE22.9x
MRIL Mahendra Realtors & Infrastructure₹62.6520.6%
+₹236.5m		n/aPE9.3x
539956 TAAL Tech₹3.05k2.3%
+₹213.2m		-3.7%PE18.5x

Latest News

RVNL
₹332.20
Rail Vikas Nigam
7D
-9.2%
1Y
-15.5%

Rail Vikas Nigam Limited's (NSE:RVNL) Shares May Have Run Too Fast Too Soon

Jan 12
Rail Vikas Nigam Limited's (NSE:RVNL) Shares May Have Run Too Fast Too Soon
500510
₹4,026.75
Larsen & Toubro
7D
-3.3%
1Y
13.9%

500510: Defence And Infrastructure Orders Will Support Stronger Medium-Term Prospects

Analysts have raised their price target for Larsen & Toubro to ₹4,535 from ₹4,458, citing updated assumptions on fair value, discount rate, revenue growth, profit margin, and future P/E that are now slightly different from prior estimates. What's in the News L&T has been awarded a supply order by the Corps of Electronics and Mechanical Engineers of the Indian Army to overhaul, upgrade and manage obsolescence for Pinaka Multi Rocket Launcher Systems, aiming to improve lifecycle support and operational availability for in service artillery systems (Client announcement).
539956
₹3,051.05
TAAL Tech
7D
2.3%
1Y
-3.7%
509496
₹706.75
Cemindia Projects
7D
-8.8%
1Y
34.8%

509496: Order Book Strength And New Auditor Appointment Will Support Upside

Analysts have lifted their price target for Cemindia Projects from ₹649 to ₹855, citing updated assumptions for revenue growth, discount rate, profit margin and future P/E that they see as better reflecting the company’s current risk and return profile. What's in the News Cemindia Projects has scheduled a Special and Extraordinary Shareholders Meeting on January 26, 2026, to be conducted via postal ballot in India (Key Developments).
POWERMECH
₹2,363.60
Power Mech Projects
7D
1.5%
1Y
-9.3%

POWERMECH: Major New Order And ESOP Plan Will Support Future Upside

Analysts have kept their fair value estimate for Power Mech Projects steady at ₹2,840, reflecting only fine tuning to inputs such as discount rate, revenue growth, profit margin and future P/E assumptions rather than a change in their overall view. What's in the News Power Mech Projects has called a Special/Extraordinary Shareholders Meeting on December 20, 2025, via postal ballot in India to seek approval for the Power Mech Projects Limited Employee Stock Option Plan 2026, including grants to employees of the company and any subsidiary, associate or holding company, and potential grants equal to or above 1% of issued capital, as well as an increase in borrowing powers and creation of security (company announcement).
KPIL
₹1,115.60
Kalpataru Projects International
7D
-6.8%
1Y
-7.3%

A Look At The Intrinsic Value Of Kalpataru Projects International Limited (NSE:KPIL)

Jan 07
A Look At The Intrinsic Value Of Kalpataru Projects International Limited (NSE:KPIL)
IRCON
₹163.75
Ircon International
7D
-8.6%
1Y
-14.8%
VOLTAS
₹1,466.80
Voltas
7D
2.6%
1Y
-11.8%

VOLTAS Will Likely See Limited Upside Despite Improved Long Term Assumptions

Analysts have reiterated their price target on Voltas at ₹1,100.00, citing slightly improved long term revenue growth and profit margin assumptions that are modestly offset by a marginally lower future P/E multiple and discount rate. What's in the News Board meeting scheduled on November 13, 2025, to consider and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (company filing).
TECHNOE
₹1,007.20
Techno Electric & Engineering
7D
-9.4%
1Y
-28.0%

Techno Electric & Engineering (NSE:TECHNOE) Is Experiencing Growth In Returns On Capital

Dec 26
Techno Electric & Engineering (NSE:TECHNOE) Is Experiencing Growth In Returns On Capital
534309
₹109.30
NBCC (India)
7D
-10.9%
1Y
29.4%

534309: Jaipur Redevelopment Mandate Will Drive Upside Over Next Thirty Months

Analysts have nudged their price target for NBCC (India) marginally higher to ₹146.0, reflecting fine tuned assumptions around discount rates, revenue growth, profit margins and future valuation multiples that modestly adjust the stock's risk and reward profile. What's in the News Board meeting scheduled on November 13, 2025 at 12:00 IST to review and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (company filing) Board to consider declaration of a second interim dividend for FY 2025-26, which would indicate potential additional shareholder payout, subject to approval (company filing) Limited review reports on the unaudited financial results for the quarter ended September 30, 2025 to be taken on record, providing external validation of the reported numbers (company filing) Valuation Changes Fair Value: unchanged at ₹146.0 per share, indicating no material shift in the central valuation estimate.
ATLANTAA
₹46.98
Atlantaa
7D
5.7%
1Y
2.7%

Atlantaa (NSE:ATLANTAA) Is Carrying A Fair Bit Of Debt

Dec 18
Atlantaa (NSE:ATLANTAA) Is Carrying A Fair Bit Of Debt
KEC
₹689.95
KEC International
7D
-7.6%
1Y
-29.3%
533167
₹98.40
Coromandel Engineering
7D
4.5%
1Y
72.2%
MRIL
₹62.65
Mahendra Realtors & Infrastructure
7D
20.6%
1Y
n/a
532395
₹1,401.40
AXISCADES Technologies
7D
2.0%
1Y
80.3%
539407
₹46.76
Generic Engineering Construction and Projects
7D
5.8%
1Y
20.2%