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Indian (NIFTY) Construction Industry Analysis

UpdatedAug 17, 2026
DataAggregated Company Financials
Companies224
  • 7D-0.6%
  • 3M0.8%
  • 1Y-3.0%
  • YTD-6.9%

Last week, the Construction industry hasn't moved much but Kalpataru Projects International is up 6.8% in that time. As for the longer term, the industry has declined 3.0% in the last year. As for the next few years, earnings are expected to grow by 18% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 17 Aug 2026₹10.3t₹6.4t₹497.5b14.8x20.8x1.6x
Wed, 15 Jul 2026₹10.2t₹6.3t₹488.9b15.4x21x1.6x
Fri, 12 Jun 2026₹10.0t₹6.3t₹486.4b13.9x20.6x1.6x
Sun, 10 May 2026₹10.7t₹6.3t₹464.3b17.6x23x1.7x
Tue, 07 Apr 2026₹9.5t₹6.2t₹471.1b14.7x20.1x1.5x
Thu, 05 Mar 2026₹9.9t₹6.2t₹470.8b14.7x21x1.6x
Sat, 31 Jan 2026₹10.2t₹6.2t₹503.5b15.7x20.3x1.7x
Mon, 29 Dec 2025₹11.0t₹6.1t₹490.8b18x22.3x1.8x
Wed, 26 Nov 2025₹10.8t₹6.1t₹405.9b18.4x26.7x1.8x
Fri, 24 Oct 2025₹10.9t₹5.9t₹424.7b21.2x25.7x1.9x
Sun, 21 Sep 2025₹10.7t₹5.8t₹425.6b21.1x25.2x1.8x
Tue, 19 Aug 2025₹10.3t₹5.8t₹423.8b20.4x24.3x1.8x
Thu, 17 Jul 2025₹10.5t₹5.7t₹412.6b21.8x25.5x1.9x
Sat, 14 Jun 2025₹10.5t₹5.7t₹411.8b23.2x25.5x1.9x
Mon, 12 May 2025₹9.4t₹5.6t₹411.8b19.5x22.7x1.7x
Wed, 09 Apr 2025₹9.0t₹5.5t₹413.0b20.2x21.8x1.6x
Fri, 07 Mar 2025₹9.2t₹5.5t₹412.9b20.7x22.2x1.7x
Sun, 02 Feb 2025₹10.5t₹5.5t₹409.1b25.1x25.8x1.9x
Tue, 31 Dec 2024₹11.0t₹5.4t₹334.4b26.9x32.8x2x
Thu, 28 Nov 2024₹10.9t₹5.3t₹332.3b25.2x32.9x2.1x
Sat, 26 Oct 2024₹10.0t₹5.0t₹312.2b25.1x32x2x
Mon, 23 Sep 2024₹11.5t₹5.0t₹310.2b28.6x37.2x2.3x
Wed, 21 Aug 2024₹11.2t₹5.0t₹302.1b27.6x36.9x2.2x
Fri, 19 Jul 2024₹11.2t₹4.8t₹281.8b29.6x39.9x2.3x
Sun, 16 Jun 2024₹10.8t₹4.8t₹281.5b26.9x38.2x2.2x
Tue, 14 May 2024₹9.2t₹4.7t₹275.7b25.3x33.3x1.9x
Thu, 11 Apr 2024₹9.7t₹4.5t₹271.7b27.3x35.7x2.1x
Sat, 09 Mar 2024₹9.1t₹4.5t₹269.9b27.1x33.6x2x
Mon, 05 Feb 2024₹8.9t₹4.5t₹266.9b27.4x33.4x2x
Wed, 03 Jan 2024₹8.1t₹4.4t₹261.9b23.9x30.8x1.8x
Fri, 01 Dec 2023₹7.4t₹4.4t₹261.9b22.6x28.1x1.7x
Sun, 29 Oct 2023₹6.8t₹4.3t₹241.9b22.5x28.2x1.6x
Tue, 26 Sep 2023₹7.0t₹4.3t₹247.2b22.2x28.4x1.6x
Thu, 24 Aug 2023₹6.5t₹4.3t₹244.6b21.7x26.6x1.5x
Price to Earnings Ratio

26.6x


Total Market Cap: ₹6.5tTotal Earnings: ₹244.6bTotal Revenue: ₹4.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Construction Industry Price to Earnings3Y Average 28x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Construction 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 20.8x which is lower than its 3-year average PE of 28.0x.
  • The 3-year average PS ratio of 1.9x is higher than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Construction industry have grown 27% per year over the last three years.
  • Revenues for these companies have grown 14% 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 Market-0.35%
Industrials0.83%
Construction-0.59%
Construction and Engineering-0.59%
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
KPIL Kalpataru Projects International₹1.40k6.8%
+₹15.2b		10.3%PE21.1x
500510 Larsen & Toubro₹4.08k0.2%
+₹10.4b		12.2%PE30.6x
509496 Cemindia Projects₹1.32k4.1%
+₹9.0b		68.9%PE37.7x
513269 Man Industries (India)₹630.8014.6%
+₹6.0b		61.5%PE23.2x
AFCONS Afcons Infrastructure₹271.703.4%
+₹3.3b		-36.5%PE69.1x

Latest News

ENGINERSIN
₹240.18
Engineers India
7D
-3.1%
1Y
25.5%
AFCONS
₹271.70
Afcons Infrastructure
7D
3.4%
1Y
-36.5%
PNCINFRA
₹215.17
PNC Infratech
7D
2.3%
1Y
-30.5%
KPIL
₹1,404.20
Kalpataru Projects International
7D
6.8%
1Y
10.3%
Analysis Article • Aug 14

Results: Kalpataru Projects International Limited Beat Earnings Expectations And Analysts Now Have New Forecasts

It's been a good week for Kalpataru Projects International Limited ( NSE:KPIL ) shareholders, because the company has...
513269
₹630.80
Man Industries (India)
7D
14.6%
1Y
61.5%
Narrative Update • Aug 13

513269: Saudi Acquisition Completion Will Drive Order Book Upside

Analysts have raised the price target for Man Industries (India) from ₹690 to ₹800 as they now apply slightly lower discount rates and use updated assumptions for revenue growth, profit margins and future P/E multiples. What's in the News for Man Industries (India) Client announcement on new pipe orders of approximately ₹3,000 million for Man Industries (India) and approximately ₹7,000 million for National Pipe Company in Saudi Arabia, taking the consolidated unexecuted order book to about ₹41,000 million.
RVNL
₹228.50
Rail Vikas Nigam
7D
-0.9%
1Y
-29.4%
534309
₹89.72
NBCC (India)
7D
-5.2%
1Y
-15.0%
Narrative Update • Aug 13

534309: Rajasthan Mandapam Project Will Support Future Upside As Margins Improve

Analysts have nudged their fair value estimate for NBCC (India) slightly lower from ₹139 to ₹133. This reflects updated assumptions around revenue growth, discount rate and future P/E, which are partly offset by a higher projected profit margin.
IRCON
₹124.57
Ircon International
7D
-4.2%
1Y
-25.5%
TECHNOE
₹959.15
Techno Electric & Engineering
7D
-9.7%
1Y
-33.4%
KEC
₹436.35
KEC International
7D
-8.3%
1Y
-47.5%
Narrative Update • Aug 12

KEC: Record Order Wins Will Support Future Share Price Re rating

Analysts have revised their price target for KEC International from about ₹590 to roughly ₹549, reflecting updated assumptions on the discount rate, revenue growth, profit margin and future P/E valuation. What's in the News for KEC International KEC International announced new orders worth INR 10,630 million across civil, transmission and distribution, renewables, and cables and conductors businesses.
UNIVASTU
₹168.70
Univastu India
7D
27.6%
1Y
91.6%
ANAWIL
₹423.45
Anawil Wire and Engineering
7D
22.3%
1Y
n/a
500294
₹139.40
NCC
7D
-4.9%
1Y
-36.3%
509496
₹1,320.25
Cemindia Projects
7D
4.1%
1Y
68.9%
Narrative Update • Aug 03

509496: Dividend And Fundraising Timeline Will Support A Stronger Return Profile

The analyst price target for Cemindia Projects has been revised from ₹1,328 to ₹1,700, with analysts linking this change to updated assumptions that include adjusted discount rates, revenue growth expectations, profit margin forecasts, and a new forward P/E estimate. What’s in the News for Cemindia Projects Cemindia Projects has scheduled a Board Meeting on May 14, 2026, at 16:36 Indian Standard Time to consider a dividend recommendation, set June 12, 2026 as the record date for dividend entitlement for the financial year ended March 31, 2026, decide the Annual General Meeting date, and address other matters.
IRB
₹19.17
IRB Infrastructure Developers
7D
-1.8%
1Y
-14.7%
500510
₹4,076.00
Larsen & Toubro
7D
0.2%
1Y
12.2%