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Indian (NIFTY) Infrastructure Industry Analysis

UpdatedMar 07, 2026
DataAggregated Company Financials
Companies19
  • 7D-1.8%
  • 3M-2.1%
  • 1Y23.2%
  • YTD-1.3%

Over the last 7 days, the Infrastructure industry has dropped 2.8%, driven by a pullback from Adani Ports and Special Economic Zone of 2.9%. Meanwhile, JSW Infrastructure actually outperformed within the industry, gaining 5.5% in the last week. Over the past 12 months, the industry was up 25%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Mar 2026₹4.1t₹493.6b₹152.6b10.3x27.1x8.4x
Mon, 02 Feb 2026₹3.8t₹478.2b₹148.6b11.3x25.7x8x
Wed, 31 Dec 2025₹3.9t₹476.0b₹148.1b12.7x26.6x8.3x
Fri, 28 Nov 2025₹4.0t₹476.0b₹148.1b12.7x27.1x8.4x
Sun, 26 Oct 2025₹3.9t₹455.0b₹140.3b16.5x27.7x8.5x
Tue, 23 Sep 2025₹4.0t₹442.8b₹136.2b17.4x29.2x9x
Thu, 21 Aug 2025₹3.8t₹443.4b₹135.7b19.3x27.7x8.5x
Sat, 19 Jul 2025₹3.9t₹413.0b₹132.2b17.2x29.6x9.5x
Mon, 16 Jun 2025₹3.8t₹413.0b₹132.2b18.3x28.9x9.3x
Wed, 14 May 2025₹3.7t₹410.3b₹128.5b19.3x28.8x9x
Fri, 11 Apr 2025₹3.2t₹392.8b₹117.3b17.8x27.1x8.1x
Sun, 09 Mar 2025₹3.2t₹390.7b₹117.1b18.9x27x8.1x
Tue, 04 Feb 2025₹3.0t₹390.6b₹117.9b22.7x25.8x7.8x
Thu, 02 Jan 2025₹3.5t₹377.6b₹114.1b24.1x30.7x9.3x
Sat, 30 Nov 2024₹3.4t₹377.6b₹114.1b26.2x29.9x9x
Mon, 28 Oct 2024₹3.6t₹371.8b₹110.4b26.9x32.8x9.8x
Wed, 25 Sep 2024₹4.1t₹371.4b₹110.5b30.6x37.1x11x
Fri, 23 Aug 2024₹4.1t₹370.8b₹110.4b32.7x37.1x11.1x
Sun, 21 Jul 2024₹4.1t₹362.4b₹100.7b35x40.2x11.2x
Tue, 18 Jun 2024₹3.9t₹361.0b₹101.0b32.4x38.8x10.9x
Thu, 16 May 2024₹3.6t₹359.8b₹93.0b35x39x10.1x
Sat, 13 Apr 2024₹3.6t₹346.3b₹83.8b36.8x43.1x10.4x
Mon, 11 Mar 2024₹3.6t₹345.9b₹83.8b36x42.7x10.4x
Wed, 07 Feb 2024₹3.4t₹346.4b₹82.0b36.9x41.5x9.8x
Fri, 05 Jan 2024₹3.0t₹323.3b₹67.7b37x45.1x9.4x
Sun, 03 Dec 2023₹2.4t₹323.3b₹67.6b27.4x35.6x7.4x
Tue, 31 Oct 2023₹2.2t₹307.4b₹67.1b19.7x32.6x7.1x
Thu, 28 Sep 2023₹1.9t₹270.0b₹66.7b19.2x28.8x7.1x
Sat, 26 Aug 2023₹1.9t₹262.8b₹66.2b16.7x28.1x7.1x
Mon, 24 Jul 2023₹1.7t₹250.3b₹56.3b16.5x30.2x6.8x
Wed, 21 Jun 2023₹1.7t₹249.2b₹56.2b15.8x30.4x6.8x
Fri, 19 May 2023₹1.5t₹222.8b₹51.1b28.2x30.3x6.9x
Sun, 16 Apr 2023₹1.5t₹222.8b₹51.1b28x30x6.9x
Tue, 14 Mar 2023₹1.6t₹222.8b₹51.1b28.9x30.8x7.1x
Price to Earnings Ratio

30.8x


Total Market Cap: ₹1.6tTotal Earnings: ₹51.1bTotal Revenue: ₹222.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Infrastructure Industry Price to Earnings3Y Average 32.5x202420252026
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 8.8x.
Past Earnings Growth
  • The earnings for companies in the Infrastructure industry have grown 44% per year over the last three years.
  • Revenues for these companies have grown 30% 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-3.02%
Industrials-2.80%
Infrastructure-1.84%
Marine Ports and Services-1.83%
Highways and Railtracks-2.30%
Airport Services-7.03%
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 31.9x.
    • Analysts are expecting annual earnings growth of 15.5%, which is lower than the prior year's growth of 38.5% 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 Airport Services industry, expecting annual earnings growth of 30% over the next 5 years.
  • This is better than its past earnings decline of 42% per year.
  • In contrast, the Marine Ports and Services industry is expected to see its earnings grow by 16% 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
JSWINFRA JSW Infrastructure₹268.805.5%
+₹29.1b		-0.4%PE34.6x
523618 Dredging Corporation of India₹975.502.7%
+₹705.6m		76.3%PS2.3x
520086 Sical Logistics₹65.153.1%
+₹129.2m		-27.7%PE7.3x
ANANTAM Anantam Highways Trust₹102.970.4%
+₹95.7m		n/aPE5.5x
ABSMARINE ABS Marine Services₹171.101.6%
+₹66.3m		39.9%PE8.4x

Latest News

JSWINFRA
₹268.80
JSW Infrastructure
7D
5.5%
1Y
-0.4%

JSWINFRA: Equity Raise And FY26 Revenue Plan Will Support Bullish Re Rating

Analysts have made a small upward adjustment to their price target for JSW Infrastructure to about ₹335 per share, citing slightly revised assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News Board meeting on February 20, 2026 to review fund raising options via equity issuance, including qualified institutional placement, rights issue or other permissible methods, subject to shareholder and regulatory approvals (Board Meeting).
DREAMFOLKS
₹75.92
Dreamfolks Services
7D
-7.0%
1Y
-69.9%

DREAMFOLKS: Foreign Subsidiary Acquisition Will Support Higher Margin Future Services Expansion

Analysts have trimmed their price target on Dreamfolks Services to ₹140. This reflects updated expectations of a smaller revenue decline at 29.06% and a higher profit margin of 35.00%, alongside a lower future P/E assumption of 9.00x.
GMRAIRPORT
₹95.06
GMR Airports
7D
-5.5%
1Y
30.5%

GMRAIRPORT: Revised Outlook Will Balance Lower Risk With Moderate Profit Expectations

Analysts have raised their fair value estimate for GMR Airports from ₹80.00 to ₹93.00, reflecting updated views on a lower discount rate, revised revenue growth assumptions, a higher profit margin outlook and an adjusted future P/E multiple. What's in the News Board meeting scheduled on Feb 13, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter ended Dec 31, 2025 (company filing).
GPPL
₹165.99
Gujarat Pipavav Port
7D
-6.2%
1Y
21.2%

GPPL: Upcoming Results Meeting Will Support Bullish Long Term Outlook

Analysts have lifted their price target for Gujarat Pipavav Port from ₹205.00 to ₹215.00, citing updated assumptions on revenue growth, profit margins and future P/E expectations. What's in the News A board meeting is scheduled for February 10, 2026 to consider and approve unaudited standalone financial results for the quarter and nine months ended December 31, 2025 (Key Developments) The board meeting will also review unaudited consolidated financial results for the same quarter and nine month period, providing investors with a combined view of group performance (Key Developments) The upcoming results discussion may offer insight into revenue, margins and volume trends ahead of the financial year end, which many investors track closely (Key Developments) Valuation Changes Fair Value: Updated upward from ₹205.00 to ₹215.00, representing a modest increase in the assessed value per share based on the revised assumptions.
ADANIPORTS
₹1,477.50
Adani Ports and Special Economic Zone
7D
-2.9%
1Y
29.1%

ADANIPORTS: Port Expansion And Dubai Logistics Subsidiary Will Support Future Earnings

Analysts have maintained their fair value estimate for Adani Ports and Special Economic Zone at ₹1,838.19 per share, with only very small adjustments to inputs such as the discount rate and future P/E. This reflects a broadly unchanged view on the stock's risk and earnings profile.
520086
₹65.15
Sical Logistics
7D
3.1%
1Y
-27.7%
ATL
₹23.89
Allcargo Terminals
7D
-4.4%
1Y
-14.9%
JITFINFRA
₹355.55
JITF Infralogistics
7D
-5.8%
1Y
-9.3%
HILINFRA
₹50.60
Highway Infrastructure
7D
-8.4%
1Y
n/a
523618
₹975.50
Dredging Corporation of India
7D
2.7%
1Y
76.3%
ANANTAM
₹102.97
Anantam Highways Trust
7D
0.4%
1Y
n/a
NOIDATOLL
₹3.87
Noida Toll Bridge
7D
3.5%
1Y
6.0%
NAVKARCORP
₹88.98
Navkar
7D
-5.5%
1Y
-10.6%
ABSMARINE
₹171.10
ABS Marine Services
7D
1.6%
1Y
39.9%