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Indian (NIFTY) Construction and Engineering Industry Analysis

UpdatedFeb 26, 2026
DataAggregated Company Financials
Companies215
  • 7D-1.1%
  • 3M-2.3%
  • 1Y13.9%
  • YTDn/a

Over the last 7 days, the Construction and Engineering industry has dropped 1.1%, driven by Afcons Infrastructure declining 7.2%. Over the past 12 months, the industry was up 14%. As for the next few years, earnings are expected to grow by 18% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Feb 2026₹10.8t₹6.2t₹470.8b16x22.9x1.7x
Sun, 25 Jan 2026₹9.8t₹6.1t₹491.4b15.5x20x1.6x
Tue, 23 Dec 2025₹10.9t₹6.1t₹490.7b18x22.1x1.8x
Thu, 20 Nov 2025₹11.0t₹6.1t₹406.3b19.1x27x1.8x
Sat, 18 Oct 2025₹10.8t₹5.9t₹429.3b20.8x25.1x1.8x
Mon, 15 Sep 2025₹10.4t₹5.8t₹425.0b20.3x24.5x1.8x
Wed, 13 Aug 2025₹10.3t₹5.8t₹427.1b20.4x24.2x1.8x
Fri, 11 Jul 2025₹10.6t₹5.7t₹412.6b22.4x25.7x1.9x
Sun, 08 Jun 2025₹10.7t₹5.7t₹411.7b23.6x26x1.9x
Tue, 06 May 2025₹9.4t₹5.6t₹414.3b20.6x22.7x1.7x
Thu, 03 Apr 2025₹9.6t₹5.5t₹413.0b20.2x23.2x1.7x
Sat, 01 Mar 2025₹8.8t₹5.5t₹412.9b20.1x21.4x1.6x
Mon, 27 Jan 2025₹10.2t₹5.4t₹337.8b26.1x30.3x1.9x
Wed, 25 Dec 2024₹11.0t₹5.3t₹333.0b27.8x33.2x2.1x
Fri, 22 Nov 2024₹10.3t₹5.3t₹332.0b25.1x31.2x1.9x
Sun, 20 Oct 2024₹11.0t₹5.0t₹311.4b28.3x35.3x2.2x
Tue, 17 Sep 2024₹11.4t₹5.0t₹310.3b28.3x36.6x2.3x
Thu, 15 Aug 2024₹10.9t₹5.0t₹301.4b28.1x36.2x2.2x
Sat, 13 Jul 2024₹11.4t₹4.8t₹282.1b31.2x40.5x2.4x
Mon, 10 Jun 2024₹10.3t₹4.8t₹281.5b24.8x36.5x2.1x
Wed, 08 May 2024₹9.5t₹4.6t₹270.7b26.8x35.2x2.1x
Fri, 05 Apr 2024₹9.6t₹4.5t₹271.2b27.3x35.5x2.1x
Sun, 03 Mar 2024₹9.1t₹4.5t₹269.9b27.8x33.7x2x
Tue, 30 Jan 2024₹9.2t₹4.4t₹262.2b26.1x35x2.1x
Thu, 28 Dec 2023₹8.2t₹4.4t₹261.9b23.6x31.1x1.8x
Sat, 25 Nov 2023₹7.3t₹4.4t₹261.9b22.4x27.7x1.6x
Mon, 23 Oct 2023₹7.1t₹4.3t₹241.8b23.8x29.4x1.7x
Wed, 20 Sep 2023₹7.0t₹4.3t₹247.1b23.1x28.5x1.6x
Fri, 18 Aug 2023₹6.4t₹4.3t₹245.3b20.8x25.9x1.5x
Sun, 16 Jul 2023₹5.9t₹4.1t₹233.3b20.7x25.3x1.4x
Tue, 13 Jun 2023₹5.6t₹4.1t₹231.6b19.7x24.2x1.4x
Thu, 11 May 2023₹5.6t₹4.0t₹212.0b20.1x26.2x1.4x
Sat, 08 Apr 2023₹5.2t₹4.0t₹202.9b19.1x25.8x1.3x
Mon, 06 Mar 2023₹5.1t₹4.0t₹202.8b18.8x25x1.3x
Price to Earnings Ratio

25x


Total Market Cap: ₹5.1tTotal Earnings: ₹202.8bTotal Revenue: ₹4.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Construction and Engineering Industry Price to Earnings3Y Average 28.6x202420252026
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 22.9x which is lower than its 3-year average PE of 28.6x.
  • 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 32% 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-0.97%
Industrials-0.58%
Construction-1.08%
Construction and Engineering-1.08%
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
RVNL Rail Vikas Nigam₹318.303.7%
+₹23.9b		-9.1%PE57.9x
KPIL Kalpataru Projects International₹1.20k8.1%
+₹15.4b		32.8%PE24.6x
VOLTAS Voltas₹1.54k2.1%
+₹10.5b		17.7%PE102.1x
500510 Larsen & Toubro₹4.29k0.2%
+₹9.8b		33.5%PE34.4x
GMRP&UI GMR Power And Urban Infra₹121.768.4%
+₹7.3b		18.6%PE11.1x

Latest News

MBEL
₹298.45
M & B Engineering
7D
-16.7%
1Y
n/a
RVNL
₹318.30
Rail Vikas Nigam
7D
3.7%
1Y
-9.1%

RVNL: New Rail Orders And Leadership Transition Will Support Steady Outlook

Analysts have kept their fair value estimate for Rail Vikas Nigam steady at ₹334. This points to only small tweaks in assumptions around discount rate, revenue growth, profit margin and future P/E rather than a change in their overall view of the stock.
KPIL
₹1,196.40
Kalpataru Projects International
7D
8.1%
1Y
32.8%
500510
₹4,285.90
Larsen & Toubro
7D
0.2%
1Y
33.5%

500510: Major Order Wins And AI Data Centers Will Support Steady Outlook

Analysts have made a slight upward adjustment to their fair value estimate for Larsen & Toubro, lifting it from about ₹4,598.90 to ₹4,608.20. This reflects small tweaks to assumptions around discount rate, margin profile and forward P/E multiples.
532811
₹759.50
Ahluwalia Contracts (India)
7D
-6.3%
1Y
17.1%

532811: Order Wins And Subsidiary Merger Will Likely Support Measured Future Performance

Analysts have trimmed their price target on Ahluwalia Contracts (India) from ₹995 to ₹891, citing updated assumptions around discount rate, revenue growth, profit margins, and future P/E expectations. What's in the News A board meeting is scheduled on February 14, 2026 to review unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025, along with a limited review report (company filing).
534309
₹94.04
NBCC (India)
7D
-1.5%
1Y
24.2%
INOXGREEN
₹171.20
Inox Green Energy Services
7D
-5.3%
1Y
40.1%
ENGINERSIN
₹224.65
Engineers India
7D
3.3%
1Y
38.9%
VOLTAS
₹1,544.50
Voltas
7D
2.1%
1Y
17.7%

VOLTAS: Refined Assumptions Will Still Leave Shares Looking Overvalued

Voltas’ analyst price target remains at ₹1,100, with analysts pointing to slightly adjusted assumptions for discount rate, revenue growth, profit margin and future P/E to reflect a more refined view of the company’s risk profile and earnings potential. What's in the News A board meeting is scheduled for January 29, 2026, to consider and approve the unaudited financial results for the quarter and nine months ended December 31, 2025 (company filing).
IRB
₹41.57
IRB Infrastructure Developers
7D
1.3%
1Y
-8.1%

IRB: Planned Bonus And Dividend Decisions Will Support Perceived Undervaluation

Analysts have kept their price target for IRB Infrastructure Developers steady at ₹52.00. The unchanged fair value reflects a balance between a lower implied discount rate, a shift to weaker revenue growth assumptions, higher forecast profit margins, and a reduced future P/E multiple.
AFCONS
₹297.10
Afcons Infrastructure
7D
-7.2%
1Y
-32.9%
IRCON
₹145.12
Ircon International
7D
-2.9%
1Y
-2.5%
GMRP&UI
₹121.76
GMR Power And Urban Infra
7D
8.4%
1Y
18.6%
TECHNOE
₹1,178.50
Techno Electric & Engineering
7D
3.7%
1Y
24.0%
ORIANA
₹1,839.00
Oriana Power
7D
-11.5%
1Y
42.3%
534618
₹842.10
Waaree Renewable Technologies
7D
-4.7%
1Y
4.0%