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Indian (NIFTY) Construction and Engineering Industry Analysis

UpdatedJul 13, 2026
DataAggregated Company Financials
Companies222
  • 7D-1.5%
  • 3M2.9%
  • 1Y-4.1%
  • YTDn/a

Over the last 7 days, the Construction and Engineering industry has dropped 1.5%, driven by Larsen & Toubro declining 2.8%. In contrast, Voltas has gained 5.1%. However, the industry is down 4.1% over the past year. 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, 13 Jul 2026₹10.4t₹6.3t₹488.9b15.4x21.3x1.6x
Wed, 10 Jun 2026₹10.2t₹6.3t₹486.4b14.5x21x1.6x
Fri, 08 May 2026₹10.7t₹6.3t₹464.3b17.2x23.1x1.7x
Sun, 05 Apr 2026₹9.3t₹6.2t₹471.1b14.5x19.8x1.5x
Tue, 03 Mar 2026₹10.8t₹6.2t₹470.8b15.4x22.8x1.7x
Thu, 29 Jan 2026₹10.0t₹6.1t₹491.4b15.7x20.4x1.7x
Sat, 27 Dec 2025₹11.0t₹6.1t₹490.8b18x22.3x1.8x
Mon, 24 Nov 2025₹10.9t₹6.1t₹406.0b18.5x26.8x1.8x
Wed, 22 Oct 2025₹10.9t₹5.9t₹424.7b21.1x25.7x1.9x
Fri, 19 Sep 2025₹10.7t₹5.8t₹425.3b20.9x25.2x1.8x
Sun, 17 Aug 2025₹10.3t₹5.8t₹423.8b20.1x24.3x1.8x
Tue, 15 Jul 2025₹10.4t₹5.7t₹412.6b22.2x25.3x1.8x
Thu, 12 Jun 2025₹10.8t₹5.7t₹411.8b23.4x26.3x1.9x
Sat, 10 May 2025₹9.4t₹5.6t₹402.9b19.5x23.2x1.7x
Mon, 07 Apr 2025₹9.2t₹5.5t₹413.0b20.4x22.3x1.7x
Wed, 05 Mar 2025₹8.9t₹5.5t₹412.9b18.8x21.5x1.6x
Fri, 31 Jan 2025₹10.1t₹5.4t₹346.8b24.9x29.2x1.9x
Sun, 29 Dec 2024₹11.1t₹5.4t₹334.4b27.1x33.1x2.1x
Tue, 26 Nov 2024₹10.9t₹5.3t₹332.3b25.5x32.9x2.1x
Thu, 24 Oct 2024₹10.4t₹5.0t₹311.5b26.4x33.4x2.1x
Sat, 21 Sep 2024₹11.5t₹5.0t₹310.2b28.6x37.2x2.3x
Mon, 19 Aug 2024₹11.0t₹5.0t₹302.1b28x36.5x2.2x
Wed, 17 Jul 2024₹11.4t₹4.8t₹282.0b30.2x40.5x2.4x
Fri, 14 Jun 2024₹10.6t₹4.8t₹281.4b26.7x37.6x2.2x
Sun, 12 May 2024₹9.2t₹4.7t₹275.6b25.5x33.4x1.9x
Tue, 09 Apr 2024₹9.8t₹4.5t₹271.7b27.1x35.9x2.1x
Thu, 07 Mar 2024₹9.0t₹4.5t₹269.9b26.3x33.3x2x
Sat, 03 Feb 2024₹8.9t₹4.5t₹266.8b27.4x33.5x2x
Mon, 01 Jan 2024₹8.2t₹4.4t₹261.9b23.8x31.2x1.8x
Wed, 29 Nov 2023₹7.3t₹4.4t₹261.9b22.5x27.7x1.6x
Fri, 27 Oct 2023₹6.7t₹4.3t₹241.8b21.7x27.8x1.6x
Sun, 24 Sep 2023₹7.0t₹4.3t₹247.2b22.1x28.4x1.6x
Tue, 22 Aug 2023₹6.3t₹4.3t₹245.4b21x25.8x1.5x
Thu, 20 Jul 2023₹6.0t₹4.1t₹233.3b21x25.5x1.5x
Price to Earnings Ratio

25.5x


Total Market Cap: ₹6.0tTotal Earnings: ₹233.3bTotal Revenue: ₹4.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Construction and Engineering Industry Price to Earnings3Y Average 28.2x202420252026
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 21.3x which is lower than its 3-year average PE of 28.2x.
  • The 3-year average PS ratio of 1.8x is higher than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Construction and Engineering industry have grown 28% per year over the last three years.
  • Revenues for these companies have grown 15% 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 Market0.25%
Industrials-0.25%
Construction-1.52%
Construction and Engineering-1.52%
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₹1.35k5.1%
+₹21.5b		-2.0%PE118.8x
509496 Cemindia Projects₹1.59k4.2%
+₹11.0b		84.0%PE45.6x
534309 NBCC (India)₹101.501.9%
+₹5.1b		-10.1%PE38.1x
532430 BF Utilities₹671.7517.3%
+₹3.7b		-18.0%PE16x
INDIANHUME Indian Hume Pipe₹411.5513.4%
+₹2.6b		-6.2%PE15.4x

Latest News

532430
₹671.75
BF Utilities
7D
17.3%
1Y
-18.0%
INDIANHUME
₹411.55
Indian Hume Pipe
7D
13.4%
1Y
-6.2%
JKIL
₹506.25
J. Kumar Infraprojects
7D
3.2%
1Y
-29.1%
Narrative Update • Jul 08

JKIL: Upcoming Projects And Dividend Decision Will Support Bullish Re Rating

Analysts have trimmed their price target for J. Kumar Infraprojects from ₹993 to ₹835, reflecting updated assumptions for revenue growth, profit margins, discount rate, and a lower future P/E multiple.
KPIL
₹1,341.70
Kalpataru Projects International
7D
-2.8%
1Y
11.9%
RVNL
₹231.54
Rail Vikas Nigam
7D
-1.0%
1Y
-39.4%
Narrative Update • Jul 07

RVNL: Lower Margins Will Undermine Benefits Of New Rail Contracts

Analysts have revised their fair value estimate for Rail Vikas Nigam to ₹165 from ₹204, citing updated assumptions on revenue growth, profit margins, the discount rate and future P/E expectations. What’s in the News for Rail Vikas Nigam Received a Letter of Award from NMDC Limited to set up buffer stockpiles and a blending yard with 10 MTPA handling capacity at Vizag, Andhra Pradesh, with a contract size of ₹29,770 million including 18% GST and an execution period of 42 months.
509496
₹1,585.15
Cemindia Projects
7D
4.2%
1Y
84.0%
Narrative Update • Jul 06

509496: Rich P/E Assumptions Will Likely Temper Optimism Despite Dividend

Analysts have lifted their price target for Cemindia Projects from ₹862 to about ₹1,160, citing updated assumptions around revenue growth, profit margins, fair value estimates, a slightly higher discount rate and a lower projected future P/E multiple. What’s in the News for Cemindia Projects Cemindia Projects approved the appointment of M/s.
ENGINERSIN
₹236.66
Engineers India
7D
-3.0%
1Y
-5.0%
532309
₹808.15
GE Power India
7D
-12.2%
1Y
163.4%
IRB
₹20.32
IRB Infrastructure Developers
7D
-1.8%
1Y
-15.2%
Narrative Update • Jul 02

IRB: Long-Term Project Management Agreements Will Support Bullish Outlook

Analysts have lifted their fair value estimate for IRB Infrastructure Developers from ₹24.0 to ₹25.0, citing updated assumptions that reflect the latest views on revenue, profit margins, discount rate and future P/E levels. What’s in the News for IRB Infrastructure Developers IRB Infrastructure Developers has scheduled a board meeting on Jul 02, 2026 to consider entering into Project Implementation Agreements with IRB InvIT Fund and project SPVs Solapur Yedeshi Tollway Limited and CG Tollway Limited, for project management services valued at approximately ₹2,663 crore on a fixed price basis over a balance concession period of about 18 years, under SEBI InvIT Regulations, 2014.
AFCONS
₹299.00
Afcons Infrastructure
7D
-4.8%
1Y
-29.2%
VOLTAS
₹1,349.50
Voltas
7D
5.1%
1Y
-2.0%
PNCINFRA
₹247.46
PNC Infratech
7D
2.1%
1Y
-18.9%
Narrative Update • Jun 25

PNCINFRA: New Infrastructure Order Wins Will Support Future Upside

Analysts have kept their price target for PNC Infratech steady at ₹287.67, with only slight adjustments to the discount rate and future P/E assumptions guiding the updated valuation framework. What’s in the News for PNC Infratech PNC Infratech emerged as the L1 bidder for an engineering, procurement and construction project at Pantnagar Airport in Uttarakhand, covering new domestic terminal and cityside works along with extensive airside upgrades, with a quoted price of ₹3,024.4 million, excluding GST, and a completion period of 24 months.
500510
₹3,927.85
Larsen & Toubro
7D
-2.8%
1Y
12.3%
Narrative Update • Jun 23

500510: Defence Energy And Electronics Orders Will Support Measured Future Earnings Potential

Analysts have modestly raised their price target for Larsen & Toubro to ₹4,513.81 from ₹4,498, reflecting small adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions in their models. What’s in the News for Larsen & Toubro Larsen & Toubro entered a collaboration with Exail to supply an Unmanned Mine Counter Measure Suite for the Indian Navy’s planned 12 Mine Counter Measure Vessels.
534309
₹101.50
NBCC (India)
7D
1.9%
1Y
-10.1%
Narrative Update • Jun 11

534309: Rajasthan Mandapam Project Will Drive Future Upside Under Self Financing Model

Analysts have kept the fair value estimate for NBCC (India) steady at ₹139, pointing to only small model adjustments in discount rate, revenue growth, profit margin and future P/E assumptions rather than a shift in the overall thesis. What's in the News A board meeting is scheduled for May 25, 2026 to consider audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, and to decide on a final dividend recommendation for FY 2025-26.
INOXGREEN
₹190.58
Inox Green Energy Services
7D
-7.8%
1Y
28.0%
505504
₹212.95
GHV Infra Projects
7D
10.9%
1Y
-9.3%