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Indian (NIFTY) Infrastructure Industry Analysis

UpdatedJan 10, 2026
DataAggregated Company Financials
Companies19
  • 7D-3.8%
  • 3M-0.2%
  • 1Y19.0%
  • YTD-3.3%

Over the last 7 days, the Infrastructure industry has dropped 3.8%, driven by Adani Ports and Special Economic Zone declining 3.6%. Over the past 12 months, the industry was up 19%. Looking forward, earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 10 Jan 2026₹4.1t₹476.0b₹148.1b11.8x27.4x8.5x
Mon, 08 Dec 2025₹4.0t₹476.0b₹148.1b12.7x27.1x8.4x
Wed, 05 Nov 2025₹3.9t₹455.0b₹140.3b17.5x27.9x8.6x
Fri, 03 Oct 2025₹3.9t₹442.8b₹136.2b16.4x28.6x8.8x
Sun, 31 Aug 2025₹3.6t₹443.9b₹135.7b17.2x26.5x8.1x
Tue, 29 Jul 2025₹3.8t₹415.4b₹133.3b16.4x28.2x9.1x
Thu, 26 Jun 2025₹3.8t₹413.0b₹132.2b19.2x28.9x9.2x
Sat, 24 May 2025₹3.8t₹413.2b₹129.0b20.9x29.2x9.1x
Mon, 21 Apr 2025₹3.5t₹392.8b₹117.3b19.2x29.7x8.9x
Wed, 19 Mar 2025₹3.2t₹390.9b₹117.1b16.5x27.2x8.2x
Fri, 14 Feb 2025₹3.0t₹391.1b₹117.3b18.6x25.9x7.8x
Sun, 12 Jan 2025₹3.2t₹377.6b₹114.1b23.8x28.2x8.5x
Tue, 10 Dec 2024₹3.6t₹377.6b₹114.1b25.9x31.8x9.6x
Thu, 07 Nov 2024₹3.8t₹377.7b₹114.0b29x33.6x10.1x
Sat, 05 Oct 2024₹4.0t₹371.4b₹110.5b29.5x35.8x10.7x
Mon, 02 Sep 2024₹4.1t₹370.8b₹110.4b32x37.1x11x
Wed, 31 Jul 2024₹4.3t₹362.4b₹100.7b36.2x42.5x11.8x
Fri, 28 Jun 2024₹4.1t₹361.0b₹101.0b36.8x40.4x11.3x
Sun, 26 May 2024₹3.8t₹361.9b₹93.0b35.7x41.3x10.6x
Tue, 23 Apr 2024₹3.5t₹346.3b₹83.8b36.2x42.1x10.2x
Thu, 21 Mar 2024₹3.4t₹345.9b₹83.8b34x40.1x9.7x
Sat, 17 Feb 2024₹3.5t₹345.9b₹83.8b37x41.6x10.1x
Mon, 15 Jan 2024₹3.2t₹323.3b₹67.7b38.8x47.8x10x
Wed, 13 Dec 2023₹2.9t₹323.3b₹67.6b32.3x43x9x
Fri, 10 Nov 2023₹2.3t₹308.7b₹68.2b21.9x33.8x7.5x
Sun, 08 Oct 2023₹2.3t₹302.6b₹75.4b22x30.2x7.5x
Tue, 05 Sep 2023₹1.9t₹262.9b₹66.2b19.5x28x7.1x
Thu, 03 Aug 2023₹1.8t₹250.3b₹56.3b18.3x31.5x7.1x
Sat, 01 Jul 2023₹1.7t₹249.0b₹56.2b16.5x30.6x6.9x
Mon, 29 May 2023₹1.7t₹224.5b₹53.7b30.8x31.3x7.5x
Wed, 26 Apr 2023₹1.6t₹222.8b₹51.1b28.5x30.4x7x
Fri, 24 Mar 2023₹1.5t₹222.8b₹51.1b27.8x29.7x6.8x
Sun, 19 Feb 2023₹1.3t₹222.8b₹51.1b24.5x26.4x6x
Tue, 17 Jan 2023₹1.8t₹212.9b₹54.2b23.8x33.2x8.4x
Price to Earnings Ratio

33.2x


Total Market Cap: ₹1.8tTotal Earnings: ₹54.2bTotal Revenue: ₹212.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Infrastructure Industry Price to Earnings3Y Average 32.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Infrastructure 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 27.4x which is lower than its 3-year average PE of 32.6x.
  • The industry is trading close to its 3-year average PS ratio of 8.7x.
Past Earnings Growth
  • The earnings for companies in the Infrastructure industry have grown 40% per year over the last three years.
  • Revenues for these companies have grown 31% 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-2.80%
Industrials-3.64%
Infrastructure-3.78%
Highways and Railtracks-2.62%
Marine Ports and Services-3.79%
Airport Services-6.13%
Industry PE
  • Investors are most optimistic about the Marine Ports and Services industry even though it's trading below its 3-year average PE ratio of 31.8x.
    • Analysts are expecting annual earnings growth of 14.2%, which is lower than the prior year's growth of 27.4% per year.
  • Investors are most pessimistic about the Highways and Railtracks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Marine Ports and Services industry, expecting annual earnings growth of 14% over the next 5 years.
  • However this is lower than its past earnings growth rate of 27% per year.
  • In contrast, the Airport Services industry is expected to see its earnings grow by 4.1% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
GPPL Gujarat Pipavav Port₹186.112.1%
+₹1.8b		11.8%PE18.9x
544383 Paradeep Parivahan₹164.501.0%
+₹26.3m		n/aPE7.3x
ANANTAM Anantam Highways Trust₹103.990.01%
+₹2.2m		n/aPE5.5x

Latest News

DREAMFOLKS
₹102.31
Dreamfolks Services
7D
-6.1%
1Y
-72.8%

DREAMFOLKS: Planned ETT Solutions Acquisition Will Support Future Services Expansion

Analysts have kept their fair value estimate for Dreamfolks Services unchanged at ₹140.0, citing consistent assumptions on discount rate, revenue growth, profit margin and future P/E as the basis for maintaining their price target view. What's in the News A board meeting is scheduled on December 1, 2025, at 09:30 Indian Standard Time to consider a total investment of about ₹360 million, or roughly US$4 million, in ETT Solutions DMCC through a mix of secondary share purchase and primary subscription (Key Developments).
JSWINFRA
₹268.65
JSW Infrastructure
7D
-5.9%
1Y
-13.0%
ADANIPORTS
₹1,435.90
Adani Ports and Special Economic Zone
7D
-3.6%
1Y
29.1%

ADANIPORTS: Rising Cargo Volumes Will Support Stronger Long Term Profitability

Analysts have nudged their price target on Adani Ports and Special Economic Zone slightly higher to ₹1,773.81 from ₹1,768.38, citing updated assumptions around a modestly lower discount rate, slightly stronger revenue growth, a marginally higher profit margin, and a small adjustment to future P/E expectations. What's in the News A board meeting is scheduled for December 23, 2025, to consider the allotment of equity shares on a preferential basis.
544383
₹164.50
Paradeep Parivahan
7D
1.0%
1Y
n/a
NAVKARCORP
₹95.48
Navkar
7D
-5.8%
1Y
-30.3%
GMRAIRPORT
₹99.89
GMR Airports
7D
-5.6%
1Y
34.0%

GMRAIRPORT: Upcoming Review Will Emphasize Fair Outlook Amid Steady Passenger Recovery

Analysts have nudged their price target on GMR Airports slightly higher to reflect modest improvements in the company’s discount rate and long term earnings outlook, valuing the stock at roughly ₹109.20 per share. What's in the News GMR Airports has scheduled a board meeting on November 13, 2025 to review and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, along with other matters (company filing) The company reported total passenger traffic excluding Cebu of 27.8 million for the second quarter ended September 30, 2025, indicating continued demand recovery (company announcement) For the first half of fiscal 2026, GMR Airports reported cumulative total passenger traffic excluding Cebu of 57.9 million, reflecting strong throughput across its portfolio (company announcement) A special or extraordinary shareholders meeting will be conducted via postal ballot in India on January 16, 2026, with details to be communicated to shareholders (company notice) Valuation Changes Fair Value: Unchanged at approximately ₹109.20 per share, indicating no revision in the stock’s assessed intrinsic value.
GPPL
₹186.11
Gujarat Pipavav Port
7D
2.1%
1Y
11.8%

GPPL: Elevated Earnings Multiple Will Constrain Future Upside Despite Higher Interim Dividend

Analysts have marginally reaffirmed their view on Gujarat Pipavav Port with no change in the fair value at ₹166.13 per share. This reflects fine tweaks to discount rate and forward valuation assumptions rather than a shift in the underlying earnings outlook.
ATL
₹26.61
Allcargo Terminals
7D
-5.6%
1Y
-24.0%

Calculating The Fair Value Of Allcargo Terminals Limited (NSE:ATL)

Nov 25
Calculating The Fair Value Of Allcargo Terminals Limited (NSE:ATL)
543364
₹140.45
Markolines Pavement Technologies
7D
-11.0%
1Y
-16.4%
JITFINFRA
₹263.10
JITF Infralogistics
7D
-5.9%
1Y
-55.6%

Returns On Capital Are Showing Encouraging Signs At JITF Infralogistics (NSE:JITFINFRA)

Oct 31
Returns On Capital Are Showing Encouraging Signs At JITF Infralogistics (NSE:JITFINFRA)
ANANTAM
₹103.99
Anantam Highways Trust
7D
0.01%
1Y
n/a