Sector Alpha Week of 2026-07-29
20-quarter listed-company comparison

Construction & Contracting Stocks in India

Construction & Contracting: NCC Ltd owns the largest revenue base; Garuda Construction and Engineering Ltd has the fastest current growth.

Nifty Construction & Contracting Index — Constituents & Performance

The Construction & Contracting companies below are the listed Indian Construction & Contracting universe this page tracks — the same constituent set people search for as the Nifty Construction & Contracting index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

The sector itself · before any single company

How has Construction & Contracting moved against NIFTY 500?

The line below covers 5.2 years. Over the most recent two of them this sector is 14% behind NIFTY 500. Earnings across its companies fell 10% on average over the last four reported quarters.

ASLEEP · 1y −9.2%~Moving with the index2 of 11 companies ahead of NIFTY 500 by 5% or more over three months1 is 20% or more behind over a year while earnings grew 20% or more

RS — · 3/11 >200d (+1) · 2/11 lead (−5) · EPS 5/11↑

200500202620252024202320222021 688339 TRAILING 12-MONTH EPS · 100 AT THE START0100106Sep 22Sep 23Mar 24Sep 24Mar 25Sep 25Mar 26Sep 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reporting · thin coverageMar 2023 · trailing 12-month earnings per share at 77, against 100 at the start · no comparable year yet · 3 reporting · thin coverageSep 2023 · trailing 12-month earnings per share at 96, against 100 at the start · down 9.2% on a year ago · 6 reportingDec 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 41.3% on a year ago · 5 reportingMar 2024 · trailing 12-month earnings per share at 83, against 100 at the start · down 6.8% on a year ago · 6 reportingJun 2024 · trailing 12-month earnings per share at 68, against 100 at the start · up 91.4% on a year ago · 5 reportingSep 2024 · trailing 12-month earnings per share at 70, against 100 at the start · up 28.8% on a year ago · 6 reportingDec 2024 · trailing 12-month earnings per share at 85, against 100 at the start · up 14.9% on a year ago · 5 reportingMar 2025 · trailing 12-month earnings per share at 94, against 100 at the start · down 6.5% on a year ago · 6 reportingJun 2025 · trailing 12-month earnings per share at 106, against 100 at the start · down 13.2% on a year ago · 6 reportingSep 2025 · trailing 12-month earnings per share at 92, against 100 at the start · down 2.7% on a year ago · 7 reportingDec 2025 · trailing 12-month earnings per share at 84, against 100 at the start · down 17.3% on a year ago · 6 reportingMar 2026 · trailing 12-month earnings per share at 76, against 100 at the start · down 8.0% on a year ago · 6 reportingNot reported yet — earnings trail price by a quarter or two76 · Mar 26No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
200500202620252024202320222021 688339 TRAILING 12-MONTH EPS · 100 AT THE START0100106Sep 22Mar 24Mar 25Mar 26Sep 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reporting · thin coverageMar 2023 · trailing 12-month earnings per share at 77, against 100 at the start · no comparable year yet · 3 reporting · thin coverageSep 2023 · trailing 12-month earnings per share at 96, against 100 at the start · down 9.2% on a year ago · 6 reportingDec 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 41.3% on a year ago · 5 reportingMar 2024 · trailing 12-month earnings per share at 83, against 100 at the start · down 6.8% on a year ago · 6 reportingJun 2024 · trailing 12-month earnings per share at 68, against 100 at the start · up 91.4% on a year ago · 5 reportingSep 2024 · trailing 12-month earnings per share at 70, against 100 at the start · up 28.8% on a year ago · 6 reportingDec 2024 · trailing 12-month earnings per share at 85, against 100 at the start · up 14.9% on a year ago · 5 reportingMar 2025 · trailing 12-month earnings per share at 94, against 100 at the start · down 6.5% on a year ago · 6 reportingJun 2025 · trailing 12-month earnings per share at 106, against 100 at the start · down 13.2% on a year ago · 6 reportingSep 2025 · trailing 12-month earnings per share at 92, against 100 at the start · down 2.7% on a year ago · 7 reportingDec 2025 · trailing 12-month earnings per share at 84, against 100 at the start · down 17.3% on a year ago · 6 reportingMar 2026 · trailing 12-month earnings per share at 76, against 100 at the start · down 8.0% on a year ago · 6 reportingNot reported yet — earnings trail price by a quarter or two76No earnings on file this far back — the price series reaches further than the filings do
Construction & Contracting, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling
Strength anatomy NarrowHow much of the sector is participating, how recently, and whether the movers score well.
Together2 of 11 stocks moving
Fresh0 crossed in the last 4 weeks
Backed by scoresmovers score +10 vs the sector average
Down the cap ladder — bar is now, tick is four weeks ago
Large 2/30
Mid 0/4−3
Small 0/4−2

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 11 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Construction & Contracting outperforming NIFTY 500?

The 52-week comparison of Construction & Contracting against NIFTY 500 is not available from the current market series. 3 of 12 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. PSP Projects Ltd is the strongest against the sector itself at +43.1%. Readings are as of 2026-07-19.

—Sector vs NIFTY 500 · 13 weeks
—Sector vs NIFTY 500 · 52 weeks
3/12Stocks leading NIFTY 500
5/12Stocks leading sector

Sector metric: 20.1 as of 2026-07-19 · CONSOLIDATION · falling.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

The 52-week sector comparison is unavailable. 3 of 12 covered companies currently have positive Mansfield relative strength versus NIFTY 500. NCC Ltd leads with revenue of ₹20,823 crore, based on 12 of 12 comparable companies through Mar 2026. Garuda Construction and Engineering Ltd has the fastest current revenue growth at 100%, across 11 of 12 comparable companies.

Is the Construction & Contracting sector outperforming NIFTY 500?

The 52-week sector comparison is unavailable. 3 of 12 covered companies currently have positive Mansfield relative strength versus NIFTY 500.

Which Construction & Contracting company is largest by revenue?

NCC Ltd leads with revenue of ₹20,823 crore, based on 12 of 12 comparable companies through Mar 2026.

Which Construction & Contracting company is growing fastest?

Garuda Construction and Engineering Ltd has the fastest current revenue growth at 100%, across 11 of 12 comparable companies.

Which Construction & Contracting company has the strongest 4-Factor Sector Score?

Garuda Construction and Engineering Ltd ranks first at 73.8/100 with 75.8% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Construction & Contracting company reports the most CAPEX?

PSP Projects Ltd reports the largest latest CAPEX at ₹17 crore, with 2 of 12 companies comparable.

Which Construction & Contracting company has the least gross debt?

BEML Land Assets Ltd has the lowest comparable gross debt at ₹0 crore. Jaiprakash Associates Ltd has the highest at ₹17,467 crore.

Which Construction & Contracting company has the lowest comparable PEG?

PSP Projects Ltd has the lowest comparable Guarded PEG at 0.65, among 2 of 12 companies that pass the metric’s comparability rules.

How much history does this Construction & Contracting comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies
12
complete canonical membership
Combined market value
₹33.6K Cr
NCC Ltd
Revenue growing
6/11
positive TTM year-on-year growth
Beating NIFTY 500
3/12
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Garuda Construction and Engineering Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 75.8% evidence confidence.
PSP Projects Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. Garuda Construction and Engineering Ltd · GARUDA

73.8/100 · Favorable setup · 76% evidence

Exact sum: 29.8 + 21.9 + 10.6 + 11.5 = 73.8

Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.

29.8/35Growth & earnings

Revenue 100% · PAT 100% · OPM change 2 pp

83% evidence

21.9/25Capital efficiency

ROCE 41.8% · debt/equity 0.03×

95% evidence

10.6/20Valuation

P/E 13.3× · PEG —

15% evidence

11.5/20Relative strength

RS sector 4.7% · RS bench -6.3% · 1Y 3.6%

100% evidence

2. Modis Navnirman Ltd · MODIS

66.4/100 · Favorable setup · 79% evidence

Exact sum: 22.1 + 17.1 + 13.2 + 14 = 66.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

22.1/35Growth & earnings

Revenue 30.6% · PAT 29.9% · OPM change -6.4 pp

71% evidence

17.1/25Capital efficiency

ROCE 25.8% · debt/equity 0.04×

95% evidence

13.2/20Valuation

P/E 26.4× · PEG —

50% evidence

14.0/20Relative strength

RS sector 16.8% · RS bench 5.2% · 1Y 26.4%

100% evidence

3. PSP Projects Ltd · PSPPROJECT

62.3/100 · Mixed-positive evidence · 89% evidence

Exact sum: 17.1 + 11.4 + 13.8 + 20 = 62.3

Decision use: Price leads the evidence: RS versus the benchmark is 28.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

17.1/35Growth & earnings

Revenue 25.4% · PAT -1.8% · OPM change 0 pp

88% evidence

11.4/25Capital efficiency

ROCE 7.9% · debt/equity 0.26×

100% evidence

13.8/20Valuation

P/E 72.7× · PEG 0.65

65% evidence

20.0/20Relative strength

RS sector 43.1% · RS bench 28.8% · 1Y 28%

100% evidence

4. Mahindra Lifespace Developers Ltd · MAHLIFE

59.3/100 · Mixed-positive evidence · 87% evidence

Exact sum: 30 + 9.5 + 5 + 14.8 = 59.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

30.0/35Growth & earnings

Revenue 100% · PAT 100% · OPM change 182 pp

100% evidence

9.5/25Capital efficiency

ROCE 7.6% · debt/equity 0.18×

100% evidence

5.0/20Valuation

P/E 25.7× · PEG 6.53

65% evidence

14.8/20Relative strength

RS sector 12.2% · RS bench 2% · 1Y -2.5%

70% evidence

5. BEML Land Assets Ltd · BLAL

50.0/100 · Thin evidence · provisional · 57% evidence

Exact sum: 19.6 + 10.8 + 8.5 + 11.1 = 50

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

19.6/35Growth & earnings

Revenue — · PAT 13.9% · OPM change —

29% evidence

10.8/25Capital efficiency

ROCE -193% · debt/equity 0×

95% evidence

8.5/20Valuation

P/E 73261× · PEG —

15% evidence

11.1/20Relative strength

RS sector 1.6% · RS bench -9.1% · 1Y -14.8%

100% evidence

6. Consolidated Construction Consortium Ltd · CCCL

48.8/100 · Mixed-negative evidence · 70% evidence

Exact sum: 19.6 + 9.5 + 11.2 + 8.5 = 48.8

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

19.6/35Growth & earnings

Revenue 61.9% · PAT -9.8% · OPM change 8.8 pp

83% evidence

9.5/25Capital efficiency

ROCE -1.9% · debt/equity 0×

95% evidence

11.2/20Valuation

P/E 11.6× · PEG —

15% evidence

8.5/20Relative strength

RS sector -3.2% · RS bench -10.9% · 1Y -9.6%

70% evidence

7. Ashoka Buildcon Ltd · ASHOKA

48.2/100 · Mixed-negative evidence · 72% evidence

Exact sum: 11.3 + 17.2 + 11.5 + 8.2 = 48.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

11.3/35Growth & earnings

Revenue -25.1% · PAT 48.6% · OPM change -16 pp

83% evidence

17.2/25Capital efficiency

ROCE 26.5% · debt/equity 0.24×

80% evidence

11.5/20Valuation

P/E 4.2× · PEG —

15% evidence

8.2/20Relative strength

RS sector -11.6% · RS bench -21.5% · 1Y -39.9%

100% evidence

8. NCC Ltd · NCC

44.4/100 · Mixed-negative evidence · 73% evidence

Exact sum: 11.8 + 13.9 + 11.6 + 7.1 = 44.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

11.8/35Growth & earnings

Revenue -6.2% · PAT -16.7% · OPM change 0 pp

83% evidence

13.9/25Capital efficiency

ROCE 16.8% · debt/equity 0.44×

80% evidence

11.6/20Valuation

P/E 12.3× · PEG —

50% evidence

7.1/20Relative strength

RS sector -8.3% · RS bench -19.5% · 1Y -38.7%

70% evidence

9. RDB Infrastructure and Power Ltd · 533285

42.8/100 · Mixed-negative evidence · 72% evidence

Exact sum: 22.9 + 10.8 + 9.1 + 0 = 42.8

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -47.5% and the one-year return is -55%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

22.9/35Growth & earnings

Revenue 18.6% · PAT 100% · OPM change -1.4 pp

83% evidence

10.8/25Capital efficiency

ROCE 7% · debt/equity 0.21×

80% evidence

9.1/20Valuation

P/E 38.9× · PEG —

15% evidence

0.0/20Relative strength

RS sector -47.5% · RS bench -52.3% · 1Y -55%

100% evidence

10. Man Infraconstruction Ltd · MANINFRA

38.9/100 · Mixed-negative evidence · 73% evidence

Exact sum: 6.4 + 16.4 + 11.4 + 4.7 = 38.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

6.4/35Growth & earnings

Revenue -43% · PAT -32.4% · OPM change -23 pp

83% evidence

16.4/25Capital efficiency

ROCE 13.2% · debt/equity 0.03×

80% evidence

11.4/20Valuation

P/E 21.1× · PEG —

50% evidence

4.7/20Relative strength

RS sector -21.2% · RS bench -20.1% · 1Y -43.9%

70% evidence

11. Vascon Engineers Ltd · VASCONEQ

31.8/100 · Adverse evidence · 70% evidence

Exact sum: 9.5 + 8.5 + 9.4 + 4.4 = 31.8

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

9.5/35Growth & earnings

Revenue -11.9% · PAT -62.5% · OPM change -5.5 pp

83% evidence

8.5/25Capital efficiency

ROCE 4.7% · debt/equity 0.26×

95% evidence

9.4/20Valuation

P/E 30.1× · PEG —

15% evidence

4.4/20Relative strength

RS sector -20.9% · RS bench -24.8% · 1Y -39.8%

70% evidence

12. Jaiprakash Associates Ltd · JPASSOCIAT

31.4/100 · Thin evidence · provisional · 46% evidence

Exact sum: 12 + 4.2 + 10 + 5.2 = 31.4

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

12.0/35Growth & earnings

Revenue -50.3% · PAT 49.8% · OPM change -11 pp

40% evidence

4.2/25Capital efficiency

ROCE -2% · debt/equity 224.67×

71% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

5.2/20Relative strength

RS sector -12.2% · RS bench -24% · 1Y -27.5%

70% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

NCC Ltd has the highest Revenue among the 12 Construction & Contracting companies compared here, at ₹20,823 crore. Ashoka Buildcon Ltd is next at ₹7,519 crore. Garuda Construction and Engineering Ltd has the highest Revenue growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: NCC Ltd is the scale leader at ₹20,823 crore, 176.9% ahead of Ashoka Buildcon Ltd. Garuda Construction and Engineering Ltd's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 134.5% from a ₹530 crore base, with 8 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderNCC Ltd · ₹20,823 crore
Gap176.9% versus #2 · Ashoka Buildcon Ltd
Persistence4/8 recent comparable periods
Coverage12/12 companies · 171 observations

Investor read: NCC Ltd is the scale benchmark; Garuda Construction and Engineering Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: NCC Ltd's growth falls below Garuda Construction and Engineering Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1NCC Ltd NCC₹20.8K Cr
2Ashoka Buildcon Ltd ASHOKA₹7.5K Cr
3Jaiprakash Associates Ltd JPASSOCIAT · older report₹3.2K Cr
4PSP Projects Ltd PSPPROJECT₹3.1K Cr
5Mahindra Lifespace Developers Ltd MAHLIFE₹2.1K Cr
Revenue growthfastest growers
1Garuda Construction and Engineering Ltd GARUDA⚠ unverified100%
2Mahindra Lifespace Developers Ltd MAHLIFE100%
3Consolidated Construction Consortium Ltd CCCL⚠ unverified62%
4Modis Navnirman Ltd MODIS⚠ unverified31%
5PSP Projects Ltd PSPPROJECT25%
Revenue · company comparison
12/12 level · 11/12 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
NCC Ltd NCC₹6.2K Cr1.7%Mar 2026
Ashoka Buildcon Ltd ASHOKA₹2.0K Cr-27%Mar 2026
PSP Projects Ltd PSPPROJECT₹1.1K Cr66%Mar 2026
Mahindra Lifespace Developers Ltd MAHLIFE₹962 Cr2,906%Jun 2026
Jaiprakash Associates Ltd JPASSOCIAT₹726 Cr-51%Dec 2025
Vascon Engineers Ltd VASCONEQ⚠ unverified₹253 Cr-35%Mar 2026
Garuda Construction and Engineering Ltd GARUDA⚠ unverified₹149 Cr82%Mar 2026
Man Infraconstruction Ltd MANINFRA₹146 Cr-50%Mar 2026
Consolidated Construction Consortium Ltd CCCL⚠ unverified₹103 Cr130%Mar 2026
Modis Navnirman Ltd MODIS⚠ unverified₹51 Cr158%Mar 2026
RDB Infrastructure and Power Ltd 533285₹22 Cr7.7%Mar 2026
BEML Land Assets Ltd BLAL⚠ unverified₹1 Cr—Mar 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

—
—
—
—
₹2.0K Cr
₹2.4K Cr
₹1.9K Cr
₹2.2K Cr
₹2.7K Cr
₹3.1K Cr
—
₹2.5K Cr
₹2.5K Cr
₹2.4K Cr
₹2.7K Cr
₹1.9K Cr
₹1.9K Cr
₹1.8K Cr
₹2.0K Cr
—

BEML Land Assets Ltd · BLAL⚠ unverified

—
—
—
—
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
—
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹1 Cr
—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

—
—
—
—
₹30 Cr
₹36 Cr
₹22 Cr
₹35 Cr
₹44 Cr
₹30 Cr
—
₹28 Cr
₹57 Cr
₹52 Cr
₹45 Cr
₹51 Cr
₹66 Cr
₹74 Cr
₹103 Cr
—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
₹35 Cr
₹47 Cr
₹62 Cr
₹82 Cr
₹125 Cr
₹116 Cr
₹140 Cr
₹149 Cr
—

Jaiprakash Associates Ltd · JPASSOCIAT

—
—
—
—
₹1.9K Cr
₹1.9K Cr
₹1.4K Cr
₹1.9K Cr
₹1.7K Cr
₹2.0K Cr
—
₹1.7K Cr
₹1.4K Cr
₹1.5K Cr
₹1.1K Cr
₹672 Cr
₹685 Cr
₹726 Cr
—
—

Mahindra Lifespace Developers Ltd · MAHLIFE

₹24 Cr
₹162 Cr
₹95 Cr
₹70 Cr
₹187 Cr
₹255 Cr
₹98 Cr
₹18 Cr
₹82 Cr
₹14 Cr
—
₹188 Cr
₹8 Cr
₹167 Cr
₹9 Cr
₹32 Cr
₹18 Cr
₹459 Cr
₹670 Cr
₹962 Cr

Man Infraconstruction Ltd · MANINFRA

—
—
—
—
₹457 Cr
₹680 Cr
₹510 Cr
₹215 Cr
₹242 Cr
₹297 Cr
—
₹342 Cr
₹230 Cr
₹242 Cr
₹294 Cr
₹183 Cr
₹149 Cr
₹153 Cr
₹146 Cr
—

Modis Navnirman Ltd · MODIS⚠ unverified

—
₹3 Cr
—
₹19 Cr
—
₹23 Cr
—
₹24 Cr
—
₹33 Cr
—
—
₹37 Cr
₹32 Cr
₹20 Cr
—
₹38 Cr
₹54 Cr
₹51 Cr
—

NCC Ltd · NCC

—
—
—
—
₹3.9K Cr
₹4.9K Cr
₹4.4K Cr
₹4.7K Cr
₹5.3K Cr
₹6.5K Cr
—
₹5.5K Cr
₹5.2K Cr
₹5.3K Cr
₹6.1K Cr
₹5.2K Cr
₹4.5K Cr
₹4.9K Cr
₹6.2K Cr
—

PSP Projects Ltd · PSPPROJECT

₹486 Cr
₹555 Cr
₹348 Cr
₹360 Cr
₹500 Cr
₹730 Cr
₹514 Cr
₹620 Cr
₹705 Cr
₹668 Cr
—
₹623 Cr
₹586 Cr
₹630 Cr
₹673 Cr
₹518 Cr
₹703 Cr
₹813 Cr
₹1.1K Cr
—

RDB Infrastructure and Power Ltd · 533285

₹15 Cr
₹40 Cr
₹13 Cr
₹16 Cr
₹32 Cr
₹67 Cr
₹11 Cr
₹23 Cr
₹16 Cr
₹61 Cr
—
₹31 Cr
₹32 Cr
₹24 Cr
₹20 Cr
₹68 Cr
₹19 Cr
₹20 Cr
₹22 Cr
—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

—
—
—
—
₹254 Cr
₹327 Cr
₹204 Cr
₹159 Cr
₹207 Cr
₹234 Cr
—
₹196 Cr
₹200 Cr
₹295 Cr
₹387 Cr
₹221 Cr
₹226 Cr
₹249 Cr
₹253 Cr
—

Revenue growth · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

—
—
—
—
—
—
—
—
36%
25%
—
27%
16%
-10%
-12%
-23%
-26%
-23%
-27%
—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

—
—
—
—
—
—
—
—
46%
-16%
—
27%
62%
20%
51%
82%
17%
42%
130%
—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
257%
147%
126%
82%
—

Jaiprakash Associates Ltd · JPASSOCIAT

—
—
—
—
—
—
—
—
-12%
3.4%
—
17%
-28%
-11%
-42%
-60%
-50%
-51%
—
—

Mahindra Lifespace Developers Ltd · MAHLIFE

—
—
-36%
19%
679%
57%
3.2%
-74%
-56%
-95%
—
92%
-56%
104%
-36%
-83%
125%
175%
7,344%
2,906%

Man Infraconstruction Ltd · MANINFRA

—
—
—
—
—
—
—
—
-47%
-56%
—
-33%
7.0%
0.0%
-1.0%
-46%
-35%
-37%
-50%
—

Modis Navnirman Ltd · MODIS⚠ unverified

—
—
—
238%
—
565%
—
29%
—
43%
—
—
51%
—
-39%
—
3.8%
70%
158%
—

NCC Ltd · NCC

—
—
—
—
—
—
—
—
35%
31%
—
26%
10%
1.6%
-5.5%
-6.3%
-13%
-8.9%
1.7%
—

PSP Projects Ltd · PSPPROJECT

—
—
9.8%
-7.7%
2.9%
32%
48%
72%
41%
-8.5%
—
21%
-5.5%
-11%
0.8%
-17%
20%
29%
66%
—

RDB Infrastructure and Power Ltd · 533285

—
—
—
70%
111%
69%
-19%
41%
-50%
-9.5%
—
192%
43%
49%
-67%
120%
-43%
-18%
7.7%
—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

—
—
—
—
—
—
—
—
-19%
-29%
—
-4.0%
25%
43%
66%
13%
13%
-15%
-35%
—
02 · compare level, then change

Operating Economics & Margin Trend

BEML Land Assets Ltd has the highest OPM among the 12 Construction & Contracting companies compared here, at 82.7%. Garuda Construction and Engineering Ltd is next at 32%. Mahindra Lifespace Developers Ltd has the highest Margin change at +182 percentage points, so level and change sit with different companies.

What the numbers say: BEML Land Assets Ltd leads opm at 82.7%; Mahindra Lifespace Developers Ltd leads margin change at +182 percentage points.

LeaderBEML Land Assets Ltd · 82.7%
Gap158.4% versus #2 · Garuda Construction and Engineering Ltd
PersistenceNot enough history
Coverage12/12 companies · 184 observations

Investor read: BEML Land Assets Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1BEML Land Assets Ltd BLAL⚠ unverified83%
2Garuda Construction and Engineering Ltd GARUDA⚠ unverified32%
3Ashoka Buildcon Ltd ASHOKA13%
4Man Infraconstruction Ltd MANINFRA13%
5Mahindra Lifespace Developers Ltd MAHLIFE10%
Margin changefastest expanders
1Mahindra Lifespace Developers Ltd MAHLIFE+182.0 pp
2Consolidated Construction Consortium Ltd CCCL⚠ unverified+8.8 pp
3Garuda Construction and Engineering Ltd GARUDA⚠ unverified+2.0 pp
4NCC Ltd NCC0.0 pp
5PSP Projects Ltd PSPPROJECT0.0 pp
Operating margin · company comparison
12/12 level · 11/12 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyOPMMargin changeReported
BEML Land Assets Ltd BLAL⚠ unverified83%—Mar 2026
Garuda Construction and Engineering Ltd GARUDA⚠ unverified32%+2.0 ppMar 2026
Man Infraconstruction Ltd MANINFRA13%−23.0 ppMar 2026
Ashoka Buildcon Ltd ASHOKA13%−16.0 ppMar 2026
Mahindra Lifespace Developers Ltd MAHLIFE10%+182.0 ppJun 2026
Modis Navnirman Ltd MODIS⚠ unverified9.3%−6.4 ppMar 2026
NCC Ltd NCC9.0%0.0 ppMar 2026
PSP Projects Ltd PSPPROJECT5.0%0.0 ppMar 2026
Vascon Engineers Ltd VASCONEQ⚠ unverified4.2%−5.5 ppMar 2026
RDB Infrastructure and Power Ltd 5332853.1%−1.4 ppMar 2026
Consolidated Construction Consortium Ltd CCCL⚠ unverified-8.0%+8.8 ppMar 2026
Jaiprakash Associates Ltd JPASSOCIAT-11%−11.0 ppDec 2025
Full 20-quarter history · every available company

OPM · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

28%
28%
26%
24%
25%
23%
24%
25%
22%
21%
—
24%
36%
27%
29%
32%
32%
24%
13%
—

BEML Land Assets Ltd · BLAL⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
83%
—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

-21%
-163%
-34%
-13%
-51%
-2.8%
-21%
-1.7%
—
-160%
—
-15%
-24%
-55%
-17%
-42%
-5.9%
1.3%
-8.0%
—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
—
—
33%
32%
32%
—
33%
29%
28%
30%
29%
30%
32%
32%
—

Jaiprakash Associates Ltd · JPASSOCIAT

2.7%
-16%
4.4%
1.9%
7.0%
13%
5.0%
5.0%
2.0%
4.0%
—
8.0%
-3.0%
0.0%
-17%
-3.0%
-6.0%
-11%
—
—

Mahindra Lifespace Developers Ltd · MAHLIFE

-159%
-22%
-34%
-56%
-6.0%
-11%
-44%
-196%
-48%
-379%
—
-22%
-627%
-15%
-597%
-172%
-299%
6.0%
-7.0%
10%

Man Infraconstruction Ltd · MANINFRA

15%
21%
19%
23%
28%
18%
21%
30%
42%
17%
—
24%
12%
25%
36%
22%
25%
21%
13%
—

Modis Navnirman Ltd · MODIS⚠ unverified

—
93%
—
24%
—
11%
—
14%
—
15%
—
—
14%
24%
16%
—
15%
27%
9.3%
—

NCC Ltd · NCC

9.2%
7.7%
9.3%
9.2%
10%
9.0%
9.0%
6.0%
10%
8.0%
—
9.0%
9.0%
8.0%
9.0%
9.0%
9.0%
9.0%
9.0%
—

PSP Projects Ltd · PSPPROJECT

16%
16%
14%
11%
12%
11%
13%
12%
10%
8.0%
—
12%
6.0%
6.0%
5.0%
5.0%
7.0%
7.0%
5.0%
—

RDB Infrastructure and Power Ltd · 533285

6.6%
9.7%
22%
18%
17%
12%
73%
27%
47%
28%
—
4.0%
8.9%
5.5%
4.5%
3.7%
4.1%
-2.0%
3.1%
—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

-3.5%
8.4%
7.9%
5.1%
8.3%
15%
7.1%
4.6%
9.8%
8.6%
—
8.0%
7.2%
6.7%
9.7%
5.8%
6.9%
5.2%
4.2%
—

Margin change · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

−4.2 pp
+0.8 pp
−5.2 pp
−8.6 pp
−2.7 pp
−5.5 pp
−1.8 pp
+1.5 pp
−3.0 pp
−2.0 pp
—
0.0 pp
+11.0 pp
+5.0 pp
+8.0 pp
+8.0 pp
−4.0 pp
−3.0 pp
−16.0 pp
—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

−15.5 pp
−120.1 pp
−19.8 pp
−5.1 pp
−29.9 pp
+160.5 pp
+12.3 pp
+11.7 pp
−1,321.0 pp
−156.9 pp
—
+6.5 pp
−22.3 pp
+1,317.6 pp
+142.9 pp
−27.5 pp
+18.1 pp
+55.9 pp
+8.8 pp
—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
−4.1 pp
−4.3 pp
−1.9 pp
−4.0 pp
+1.0 pp
+4.0 pp
+2.0 pp
—

Jaiprakash Associates Ltd · JPASSOCIAT

−2.4 pp
−43.8 pp
−0.0 pp
+3.0 pp
+4.3 pp
+29.3 pp
+0.6 pp
+3.1 pp
−5.0 pp
−9.0 pp
—
+3.0 pp
−8.0 pp
−2.0 pp
−21.0 pp
−11.0 pp
−3.0 pp
−11.0 pp
—
—

Mahindra Lifespace Developers Ltd · MAHLIFE

−131.1 pp
+44.2 pp
−17.5 pp
−71.9 pp
+153.4 pp
+11.1 pp
−10.2 pp
−139.6 pp
−42.0 pp
−368.0 pp
—
+22.0 pp
−431.0 pp
+33.0 pp
−218.0 pp
−150.0 pp
+328.0 pp
+21.0 pp
+590.0 pp
+182.0 pp

Man Infraconstruction Ltd · MANINFRA

−4.4 pp
+2.0 pp
−26.2 pp
−7.5 pp
+13.0 pp
−3.0 pp
+2.0 pp
+6.6 pp
+14.0 pp
−1.0 pp
—
+3.0 pp
−18.0 pp
−17.0 pp
+19.0 pp
−2.0 pp
+13.0 pp
−4.0 pp
−23.0 pp
—

Modis Navnirman Ltd · MODIS⚠ unverified

—
—
—
+66.1 pp
—
−81.9 pp
—
−10.3 pp
—
+3.4 pp
—
—
+0.6 pp
—
+1.2 pp
—
+0.8 pp
+3.0 pp
−6.4 pp
—

NCC Ltd · NCC

−2.9 pp
−3.1 pp
−1.0 pp
−1.1 pp
+0.8 pp
+1.3 pp
−0.3 pp
−3.2 pp
0.0 pp
−1.0 pp
—
0.0 pp
+3.0 pp
−2.0 pp
+1.0 pp
0.0 pp
0.0 pp
+1.0 pp
0.0 pp
—

PSP Projects Ltd · PSPPROJECT

+4.2 pp
+3.3 pp
+1.3 pp
−3.0 pp
−3.7 pp
−4.9 pp
−0.8 pp
+1.0 pp
−2.0 pp
−3.0 pp
—
−1.0 pp
−6.0 pp
−4.0 pp
−3.0 pp
−7.0 pp
+1.0 pp
+1.0 pp
0.0 pp
—

RDB Infrastructure and Power Ltd · 533285

−5.7 pp
+0.9 pp
+5.6 pp
−8.9 pp
+10.6 pp
+2.6 pp
+50.4 pp
+8.2 pp
+30.0 pp
+15.8 pp
—
−69.0 pp
−17.6 pp
−41.6 pp
−23.5 pp
−0.3 pp
−4.9 pp
−7.5 pp
−1.4 pp
—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

−11.5 pp
+3.8 pp
+9.1 pp
+1.8 pp
+11.8 pp
+6.8 pp
−0.7 pp
−0.5 pp
+1.5 pp
−6.6 pp
—
+0.9 pp
+2.6 pp
−3.1 pp
+1.1 pp
−2.3 pp
−0.3 pp
−1.5 pp
−5.5 pp
—
03 · compare level, then change

Profit Scale & Acceleration

Ashoka Buildcon Ltd has the highest Net profit among the 12 Construction & Contracting companies compared here, at ₹2,576 crore. NCC Ltd is next at ₹724 crore. RDB Infrastructure and Power Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Ashoka Buildcon Ltd leads with ₹2,576 crore of TTM profit, 255.8% above NCC Ltd. RDB Infrastructure and Power Ltd shows ≥100% on the scoring scale (124.9% uncapped) growth from a ₹12 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderAshoka Buildcon Ltd · ₹2,576 crore
Gap255.8% versus #2 · NCC Ltd
Persistence6/8 recent comparable periods
Coverage12/12 companies · 171 observations

Investor read: Ashoka Buildcon Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Ashoka Buildcon Ltd ASHOKA₹2.6K Cr
2NCC Ltd NCC₹724 Cr
3Mahindra Lifespace Developers Ltd MAHLIFE₹333 Cr
4Man Infraconstruction Ltd MANINFRA₹211 Cr
5Garuda Construction and Engineering Ltd GARUDA⚠ unverified₹122 Cr
Profit growthfastest growers
1RDB Infrastructure and Power Ltd 533285100%
2Garuda Construction and Engineering Ltd GARUDA⚠ unverified100%
3Mahindra Lifespace Developers Ltd MAHLIFE100%
4Ashoka Buildcon Ltd ASHOKA49%
5Modis Navnirman Ltd MODIS⚠ unverified30%
Net profit · company comparison
12/12 level · 10/12 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyNet profitProfit growthReported
NCC Ltd NCC₹217 Cr-18%Mar 2026
Ashoka Buildcon Ltd ASHOKA₹147 Cr-67%Mar 2026
Mahindra Lifespace Developers Ltd MAHLIFE₹86 Cr69%Jun 2026
Man Infraconstruction Ltd MANINFRA₹41 Cr-58%Mar 2026
Garuda Construction and Engineering Ltd GARUDA⚠ unverified₹34 Cr89%Mar 2026
PSP Projects Ltd PSPPROJECT₹21 Cr250%Mar 2026
Vascon Engineers Ltd VASCONEQ⚠ unverified₹6 Cr-84%Mar 2026
Modis Navnirman Ltd MODIS⚠ unverified₹4 Cr192%Mar 2026
RDB Infrastructure and Power Ltd 533285₹4 Cr273%Mar 2026
BEML Land Assets Ltd BLAL⚠ unverified₹1 Cr—Mar 2026
Consolidated Construction Consortium Ltd CCCL⚠ unverified₹-2 Cr-104%Mar 2026
Jaiprakash Associates Ltd JPASSOCIAT₹-693 Cr—Dec 2025
Full 20-quarter history · every available company

Net profit · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

—
—
—
—
₹138 Cr
₹-45 Cr
₹72 Cr
₹119 Cr
₹99 Cr
₹254 Cr
—
₹158 Cr
₹462 Cr
₹662 Cr
₹452 Cr
₹227 Cr
₹91 Cr
₹2.1K Cr
₹147 Cr
—

BEML Land Assets Ltd · BLAL⚠ unverified

—
—
—
—
₹-0 Cr
₹-0 Cr
₹-2 Cr
₹-1 Cr
₹-1 Cr
₹-1 Cr
—
₹-2 Cr
₹-1 Cr
₹-0 Cr
₹-0 Cr
₹-3 Cr
₹-1 Cr
₹-0 Cr
₹1 Cr
—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

—
—
—
—
₹-35 Cr
₹-21 Cr
₹-25 Cr
₹-20 Cr
₹-618 Cr
₹1.3K Cr
—
₹-3 Cr
₹46 Cr
₹-12 Cr
₹56 Cr
₹78 Cr
₹-0 Cr
₹4 Cr
₹-2 Cr
—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
₹9 Cr
₹10 Cr
₹13 Cr
₹18 Cr
₹28 Cr
₹27 Cr
₹33 Cr
₹34 Cr
—

Jaiprakash Associates Ltd · JPASSOCIAT

—
—
—
—
₹-315 Cr
₹-316 Cr
₹-183 Cr
₹-248 Cr
₹-476 Cr
₹-431 Cr
—
₹-1.0K Cr
₹-298 Cr
₹-768 Cr
₹-731 Cr
₹232 Cr
₹-75 Cr
₹-693 Cr
—
—

Mahindra Lifespace Developers Ltd · MAHLIFE

₹25 Cr
₹137 Cr
₹75 Cr
₹-8 Cr
₹34 Cr
₹1 Cr
₹-4 Cr
₹-19 Cr
₹50 Cr
₹71 Cr
—
₹13 Cr
₹-14 Cr
₹-22 Cr
₹85 Cr
₹51 Cr
₹48 Cr
₹109 Cr
₹90 Cr
₹86 Cr

Man Infraconstruction Ltd · MANINFRA

—
—
—
—
₹91 Cr
₹92 Cr
₹87 Cr
₹65 Cr
₹87 Cr
₹65 Cr
—
₹84 Cr
₹47 Cr
₹84 Cr
₹97 Cr
₹58 Cr
₹60 Cr
₹52 Cr
₹41 Cr
—

Modis Navnirman Ltd · MODIS⚠ unverified

—
₹2 Cr
—
₹3 Cr
—
₹3 Cr
—
₹3 Cr
—
₹4 Cr
—
—
₹5 Cr
₹7 Cr
₹2 Cr
—
₹5 Cr
₹13 Cr
₹4 Cr
—

NCC Ltd · NCC

—
—
—
—
₹168 Cr
₹203 Cr
₹184 Cr
₹86 Cr
₹231 Cr
₹239 Cr
—
₹223 Cr
₹175 Cr
₹206 Cr
₹265 Cr
₹205 Cr
₹167 Cr
₹135 Cr
₹217 Cr
—

PSP Projects Ltd · PSPPROJECT

₹50 Cr
₹55 Cr
₹29 Cr
₹22 Cr
₹35 Cr
₹46 Cr
₹38 Cr
₹39 Cr
₹31 Cr
₹16 Cr
—
₹35 Cr
₹10 Cr
₹5 Cr
₹6 Cr
₹0 Cr
₹16 Cr
₹18 Cr
₹21 Cr
—

RDB Infrastructure and Power Ltd · 533285

₹2 Cr
₹0 Cr
₹1 Cr
₹4 Cr
₹4 Cr
₹8 Cr
₹3 Cr
₹3 Cr
₹2 Cr
₹12 Cr
—
₹1 Cr
₹2 Cr
₹2 Cr
₹1 Cr
₹3 Cr
₹3 Cr
₹2 Cr
₹4 Cr
—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

—
—
—
—
₹16 Cr
₹50 Cr
₹12 Cr
₹21 Cr
₹19 Cr
₹17 Cr
—
₹10 Cr
₹10 Cr
₹76 Cr
₹35 Cr
₹22 Cr
₹11 Cr
₹9 Cr
₹6 Cr
—

Profit growth · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

—
—
—
—
—
—
—
—
-28%
—
—
119%
288%
569%
78%
44%
-80%
219%
-67%
—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
-96%
—
-101%
—
-104%
—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
211%
170%
154%
89%
—

Mahindra Lifespace Developers Ltd · MAHLIFE

—
—
—
-214%
36%
-99%
-105%
—
47%
7,000%
—
—
—
-144%
20%
292%
—
—
5.9%
69%

Man Infraconstruction Ltd · MANINFRA

—
—
—
—
—
—
—
—
-4.4%
-29%
—
-3.5%
-28%
-3.5%
49%
-31%
28%
-38%
-58%
—

Modis Navnirman Ltd · MODIS⚠ unverified

—
—
—
—
—
21%
—
-2.1%
—
34%
—
—
60%
—
-61%
—
10%
82%
192%
—

NCC Ltd · NCC

—
—
—
—
—
—
—
—
38%
18%
—
21%
103%
-11%
11%
-8.1%
-4.6%
-34%
-18%
—

PSP Projects Ltd · PSPPROJECT

—
—
16%
-39%
-30%
-16%
31%
77%
-11%
-65%
—
-7.9%
-74%
-84%
-63%
-100%
60%
260%
250%
—

RDB Infrastructure and Power Ltd · 533285

—
—
—
114%
89%
5,877%
113%
-13%
-42%
54%
—
-70%
-46%
-26%
-90%
186%
79%
36%
273%
—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

—
—
—
—
—
—
—
—
14%
-66%
—
-19%
-50%
307%
107%
134%
11%
-88%
-84%
—
04 · compare level, then change

Capacity Spending & Returns On It

PSP Projects Ltd has the highest CAPEX among the 12 Construction & Contracting companies compared here, at ₹17 crore. Modis Navnirman Ltd is next at ₹0 crore. The same company also holds the highest CAPEX intensity, at 2.5%. 2 of 12 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: PSP Projects Ltd reports ₹17 crore of CAPEX; PSP Projects Ltd has the highest covered intensity at 2.5%. Coverage is only 2 of 12 companies and 9 reported observations, so this is partial evidence—not a complete sector rank.

LeaderPSP Projects Ltd · ₹17 crore
Gapnull versus #2 · Modis Navnirman Ltd
Persistence4/4 recent comparable periods
Coverage2/12 companies · 9 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
CAPEXlargest spenders
1PSP Projects Ltd PSPPROJECT₹17 Cr
2Modis Navnirman Ltd MODIS⚠ unverified₹0 Cr
CAPEX intensityhighest reinvestment intensity
1PSP Projects Ltd PSPPROJECT2.5%
2Modis Navnirman Ltd MODIS⚠ unverified0.0%
Capital expenditure · company comparison
2/12 level · 2/12 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

Withheld from this chart: NCC Ltd (NCC) — its two data sources disagree by up to 9.5% on reported income across 14 comparable periods, so its derived ratios are withheld; Man Infraconstruction Ltd (MANINFRA) — its two data sources disagree by up to 20% on reported income across 14 comparable periods, so its derived ratios are withheld; Ashoka Buildcon Ltd (ASHOKA) — its two data sources disagree by up to 15% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyCAPEXCAPEX intensityReported
PSP Projects Ltd PSPPROJECT₹17 Cr2.5%Mar 2026
Modis Navnirman Ltd MODIS⚠ unverified₹0 Cr0.0%Mar 2026
Full 20-quarter history · every available company

CAPEX · reported quarter history

Modis Navnirman Ltd · MODIS⚠ unverified

—
—
—
—
—
—
₹0 Cr
₹0 Cr
—
₹0 Cr
—
₹0 Cr
₹0 Cr
—
—
—
—
—
—
—

PSP Projects Ltd · PSPPROJECT

—
—
—
—
₹26 Cr
₹46 Cr
—
—
₹46 Cr
₹17 Cr
—
—
—
—
—
—
—
—
—
—

CAPEX intensity · reported quarter history

Modis Navnirman Ltd · MODIS⚠ unverified

—
—
—
—
—
—
—
0.0%
—
0.0%
—
—
0.0%
—
—
—
—
—
—
—

PSP Projects Ltd · PSPPROJECT

—
—
—
—
5.2%
6.3%
—
—
6.5%
2.5%
—
—
—
—
—
—
—
—
—
—
Annual capital allocation · 10-year view
12/12 capacity base · 12/12 OCF · 12/12 CAPEX · 12/12 FCF

Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.

Full annual capacity base, operating cash flow, CAPEX and free cash flow history

Capacity base · net fixed assets + CWIP · fiscal-year history

Ashoka Buildcon Ltd · ASHOKA

₹8.1K Cr
₹7.9K Cr
₹7.9K Cr
₹7.8K Cr
₹7.6K Cr
₹1.4K Cr
₹7.0K Cr
₹6.7K Cr
₹1.2K Cr
₹1.2K Cr

BEML Land Assets Ltd · BLAL⚠ unverified

—
—
—
—
—
₹0 Cr
₹10 Cr
₹10 Cr
₹10 Cr
₹10 Cr

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

₹459 Cr
₹287 Cr
₹281 Cr
₹425 Cr
₹416 Cr
₹409 Cr
₹402 Cr
₹208 Cr
₹204 Cr
₹73 Cr

Jaiprakash Associates Ltd · JPASSOCIAT

₹21.5K Cr
₹21.2K Cr
₹20.5K Cr
₹10.3K Cr
₹9.7K Cr
₹8.9K Cr
₹5.2K Cr
₹4.9K Cr
₹7.3K Cr
—

Mahindra Lifespace Developers Ltd · MAHLIFE

₹108 Cr
₹104 Cr
₹105 Cr
₹110 Cr
₹106 Cr
₹106 Cr
₹42 Cr
₹29 Cr
₹31 Cr
₹37 Cr

Man Infraconstruction Ltd · MANINFRA

₹170 Cr
₹164 Cr
₹215 Cr
₹81 Cr
₹60 Cr
₹62 Cr
₹61 Cr
₹53 Cr
₹49 Cr
₹61 Cr

Modis Navnirman Ltd · MODIS⚠ unverified

—
—
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹1 Cr
₹1 Cr

NCC Ltd · NCC

₹1.1K Cr
₹1.2K Cr
₹1.6K Cr
₹1.4K Cr
₹1.4K Cr
₹1.5K Cr
₹1.5K Cr
₹1.6K Cr
₹1.7K Cr
₹2.4K Cr

PSP Projects Ltd · PSPPROJECT

₹52 Cr
₹80 Cr
₹103 Cr
₹108 Cr
₹158 Cr
₹207 Cr
₹258 Cr
₹325 Cr
₹310 Cr
₹414 Cr

RDB Infrastructure and Power Ltd · 533285

₹7 Cr
₹3 Cr
₹1 Cr
₹1 Cr
₹0 Cr
₹1 Cr
₹1 Cr
₹191 Cr
₹0 Cr
₹0 Cr

Vascon Engineers Ltd · VASCONEQ⚠ unverified

₹130 Cr
₹120 Cr
₹114 Cr
₹108 Cr
₹99 Cr
₹94 Cr
₹117 Cr
₹63 Cr
₹74 Cr
₹64 Cr

Operating cash flow · fiscal-year history

Ashoka Buildcon Ltd · ASHOKA

₹827 Cr
₹621 Cr
₹-90 Cr
₹1.1K Cr
₹155 Cr
₹353 Cr
₹492 Cr
₹749 Cr
₹1.7K Cr
₹655 Cr

BEML Land Assets Ltd · BLAL⚠ unverified

—
—
—
—
—
₹0 Cr
₹0 Cr
₹1 Cr
₹1 Cr
₹1 Cr

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

₹57 Cr
₹49 Cr
₹42 Cr
₹16 Cr
₹8 Cr
₹8 Cr
₹0 Cr
₹51 Cr
₹156 Cr
₹-98 Cr

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
₹13 Cr
₹12 Cr
₹-7 Cr
₹-111 Cr
₹78 Cr

Jaiprakash Associates Ltd · JPASSOCIAT

₹5.8K Cr
₹-855 Cr
₹770 Cr
₹827 Cr
₹1.1K Cr
₹21 Cr
₹761 Cr
₹1.2K Cr
₹558 Cr
—

Mahindra Lifespace Developers Ltd · MAHLIFE

₹70 Cr
₹194 Cr
₹168 Cr
₹-63 Cr
₹-68 Cr
₹-52 Cr
₹-148 Cr
₹-661 Cr
₹-542 Cr
₹-545 Cr

Man Infraconstruction Ltd · MANINFRA

₹94 Cr
₹-169 Cr
₹16 Cr
₹88 Cr
₹78 Cr
₹187 Cr
₹448 Cr
₹573 Cr
₹133 Cr
₹-50 Cr

Modis Navnirman Ltd · MODIS⚠ unverified

—
—
₹-3 Cr
₹8 Cr
₹0 Cr
₹-16 Cr
₹-7 Cr
₹-33 Cr
₹-20 Cr
₹-2 Cr

NCC Ltd · NCC

₹314 Cr
₹586 Cr
₹673 Cr
₹931 Cr
₹842 Cr
₹1.4K Cr
₹1.1K Cr
₹1.4K Cr
₹742 Cr
₹-459 Cr

PSP Projects Ltd · PSPPROJECT

₹-8 Cr
₹70 Cr
₹21 Cr
₹16 Cr
₹73 Cr
₹147 Cr
₹45 Cr
₹-224 Cr
₹53 Cr
₹323 Cr

RDB Infrastructure and Power Ltd · 533285

₹79 Cr
₹-11 Cr
₹-195 Cr
₹21 Cr
₹-47 Cr
₹-155 Cr
₹-29 Cr
₹46 Cr
₹-82 Cr
₹-88 Cr

Vascon Engineers Ltd · VASCONEQ⚠ unverified

₹28 Cr
₹10 Cr
₹56 Cr
₹38 Cr
₹70 Cr
₹33 Cr
₹104 Cr
₹-22 Cr
₹5 Cr
₹-122 Cr

CAPEX · reported cash flow · fiscal-year history

Ashoka Buildcon Ltd · ASHOKA

₹-218 Cr
₹159 Cr
₹269 Cr
₹138 Cr
₹56 Cr
₹-5.8K Cr
₹5.9K Cr
₹106 Cr
₹-5.3K Cr
₹200 Cr

BEML Land Assets Ltd · BLAL⚠ unverified

—
—
—
—
—
—
₹10 Cr
₹0 Cr
₹0 Cr
₹0 Cr

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

₹284 Cr
₹-164 Cr
₹0 Cr
₹151 Cr
₹0 Cr
₹0 Cr
₹-1 Cr
₹-189 Cr
₹1 Cr
₹-129 Cr

Jaiprakash Associates Ltd · JPASSOCIAT

₹-30.8K Cr
₹506 Cr
₹-69 Cr
₹-9.6K Cr
₹2 Cr
₹-442 Cr
₹-3.3K Cr
₹133 Cr
₹2.9K Cr
—

Mahindra Lifespace Developers Ltd · MAHLIFE

₹35 Cr
₹0 Cr
₹5 Cr
₹13 Cr
₹3 Cr
₹7 Cr
₹-52 Cr
₹1 Cr
₹20 Cr
₹30 Cr

Man Infraconstruction Ltd · MANINFRA

₹11 Cr
₹2 Cr
₹58 Cr
₹-127 Cr
₹-12 Cr
₹11 Cr
₹10 Cr
₹2 Cr
₹4 Cr
₹24 Cr

Modis Navnirman Ltd · MODIS⚠ unverified

—
—
—
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹1 Cr
₹0 Cr

NCC Ltd · NCC

₹-379 Cr
₹253 Cr
₹576 Cr
₹63 Cr
₹192 Cr
₹198 Cr
₹278 Cr
₹293 Cr
₹297 Cr
₹955 Cr

PSP Projects Ltd · PSPPROJECT

₹6 Cr
₹39 Cr
₹47 Cr
₹32 Cr
₹76 Cr
₹81 Cr
₹91 Cr
₹132 Cr
₹58 Cr
₹191 Cr

RDB Infrastructure and Power Ltd · 533285

₹-1 Cr
₹-3 Cr
₹-1 Cr
₹1 Cr
₹0 Cr
₹1 Cr
₹0 Cr
₹196 Cr
₹-191 Cr
₹0 Cr

Vascon Engineers Ltd · VASCONEQ⚠ unverified

₹30 Cr
₹4 Cr
₹7 Cr
₹9 Cr
₹3 Cr
₹6 Cr
₹35 Cr
₹-48 Cr
₹17 Cr
₹-4 Cr

Free cash flow · fiscal-year history

Ashoka Buildcon Ltd · ASHOKA

₹1.0K Cr
₹462 Cr
₹-359 Cr
₹932 Cr
₹99 Cr
₹6.2K Cr
₹-5.5K Cr
₹643 Cr
₹6.9K Cr
₹455 Cr

BEML Land Assets Ltd · BLAL⚠ unverified

—
—
—
—
—
—
₹-9 Cr
₹1 Cr
₹1 Cr
₹1 Cr

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

₹-227 Cr
₹213 Cr
₹42 Cr
₹-135 Cr
₹8 Cr
₹8 Cr
₹1 Cr
₹240 Cr
₹155 Cr
₹31 Cr

Jaiprakash Associates Ltd · JPASSOCIAT

₹36.6K Cr
₹-1.4K Cr
₹839 Cr
₹10.5K Cr
₹1.1K Cr
₹463 Cr
₹4.1K Cr
₹1.0K Cr
₹-2.4K Cr
—

Mahindra Lifespace Developers Ltd · MAHLIFE

₹35 Cr
₹194 Cr
₹163 Cr
₹-76 Cr
₹-71 Cr
₹-59 Cr
₹-96 Cr
₹-662 Cr
₹-562 Cr
₹-575 Cr

Man Infraconstruction Ltd · MANINFRA

₹83 Cr
₹-171 Cr
₹-42 Cr
₹215 Cr
₹90 Cr
₹176 Cr
₹438 Cr
₹571 Cr
₹129 Cr
₹-74 Cr

Modis Navnirman Ltd · MODIS⚠ unverified

—
—
—
₹8 Cr
₹0 Cr
₹-16 Cr
₹-7 Cr
₹-33 Cr
₹-21 Cr
₹-2 Cr

NCC Ltd · NCC

₹693 Cr
₹333 Cr
₹97 Cr
₹868 Cr
₹650 Cr
₹1.2K Cr
₹822 Cr
₹1.1K Cr
₹445 Cr
₹-1.4K Cr

PSP Projects Ltd · PSPPROJECT

₹-14 Cr
₹31 Cr
₹-26 Cr
₹-16 Cr
₹-3 Cr
₹66 Cr
₹-46 Cr
₹-356 Cr
₹-5 Cr
₹132 Cr

RDB Infrastructure and Power Ltd · 533285

₹80 Cr
₹-8 Cr
₹-194 Cr
₹20 Cr
₹-47 Cr
₹-156 Cr
₹-29 Cr
₹-150 Cr
₹109 Cr
₹-88 Cr

Vascon Engineers Ltd · VASCONEQ⚠ unverified

₹-2 Cr
₹6 Cr
₹49 Cr
₹29 Cr
₹67 Cr
₹27 Cr
₹69 Cr
₹26 Cr
₹-12 Cr
₹-118 Cr
05 · compare level, then change

Debt Load & Balance-Sheet Headroom

BEML Land Assets Ltd has the lowest Gross debt among the 12 Construction & Contracting companies compared here, at ₹0 crore. PSP Projects Ltd has the lowest Net debt at ₹86 crore net cash, so level and change sit with different companies. 12 of 12 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: PSP Projects Ltd has the clearest covered balance-sheet capacity with ₹86 crore net cash and gross debt of ₹330 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderBEML Land Assets Ltd · ₹0 crore
Gapnull versus #2 · Consolidated Construction Consortium Ltd
Persistence0/8 recent comparable periods
Coverage12/12 companies · 136 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1BEML Land Assets Ltd BLAL⚠ unverified₹0 Cr
2Consolidated Construction Consortium Ltd CCCL⚠ unverified₹0 Cr
3Modis Navnirman Ltd MODIS⚠ unverified₹6 Cr
4Garuda Construction and Engineering Ltd GARUDA⚠ unverified₹12 Cr
5RDB Infrastructure and Power Ltd 533285₹57 Cr
Net debtlowest net debt
1PSP Projects Ltd PSPPROJECT₹-86 Cr
2Consolidated Construction Consortium Ltd CCCL⚠ unverified₹-43 Cr
3Garuda Construction and Engineering Ltd GARUDA⚠ unverified₹-11 Cr
4Modis Navnirman Ltd MODIS⚠ unverified₹1 Cr
5BEML Land Assets Ltd BLAL⚠ unverified₹12 Cr
Debt and balance-sheet capacity · company comparison
12/12 level · 7/12 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGross debtNet debtReported
Jaiprakash Associates Ltd JPASSOCIAT₹17.5K Cr—Dec 2025
NCC Ltd NCC₹3.5K Cr—Mar 2026
Ashoka Buildcon Ltd ASHOKA₹1.6K Cr—Mar 2026
Mahindra Lifespace Developers Ltd MAHLIFE₹662 Cr₹78 CrJun 2026
PSP Projects Ltd PSPPROJECT₹330 Cr₹-86 CrMar 2026
Vascon Engineers Ltd VASCONEQ⚠ unverified₹300 Cr₹197 CrMar 2026
Man Infraconstruction Ltd MANINFRA₹64 Cr—Mar 2026
RDB Infrastructure and Power Ltd 533285₹57 Cr—Mar 2026
Garuda Construction and Engineering Ltd GARUDA⚠ unverified₹12 Cr₹-11 CrMar 2026
Modis Navnirman Ltd MODIS⚠ unverified₹6 Cr₹1 CrMar 2026
BEML Land Assets Ltd BLAL⚠ unverified₹0 Cr₹12 CrMar 2026
Consolidated Construction Consortium Ltd CCCL⚠ unverified₹0 Cr₹-43 CrMar 2026
Full 20-quarter history · every available company

Gross debt · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

—
₹3.6K Cr
—
—
—
₹5.5K Cr
—
—
—
₹5.5K Cr
—
—
—
—
₹2.0K Cr
—
₹2.0K Cr
—
₹1.6K Cr
—

BEML Land Assets Ltd · BLAL⚠ unverified

—
₹0 Cr
—
—
—
₹0 Cr
—
—
—
₹0 Cr
—
₹4 Cr
₹7 Cr
₹7 Cr
₹0 Cr
₹9 Cr
₹0 Cr
₹12 Cr
₹0 Cr
—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

₹1.4K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹141 Cr
—
₹141 Cr
₹146 Cr
₹146 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
—
—
—
—
—
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹12 Cr
—

Jaiprakash Associates Ltd · JPASSOCIAT

—
₹19.1K Cr
—
—
—
₹16.5K Cr
—
—
—
₹15.4K Cr
—
—
—
—
₹18.5K Cr
—
₹17.5K Cr
—
—
—

Mahindra Lifespace Developers Ltd · MAHLIFE

₹258 Cr
₹286 Cr
₹286 Cr
₹335 Cr
₹335 Cr
₹268 Cr
₹268 Cr
₹297 Cr
₹297 Cr
₹877 Cr
—
₹877 Cr
₹933 Cr
₹933 Cr
₹1.4K Cr
₹1.4K Cr
₹325 Cr
₹325 Cr
₹662 Cr
—

Man Infraconstruction Ltd · MANINFRA

—
₹557 Cr
—
—
—
₹206 Cr
—
—
—
₹131 Cr
—
—
—
—
₹36 Cr
—
₹31 Cr
—
₹64 Cr
—

Modis Navnirman Ltd · MODIS⚠ unverified

₹20 Cr
₹20 Cr
₹3 Cr
₹3 Cr
₹7 Cr
₹7 Cr
₹13 Cr
₹13 Cr
₹6 Cr
₹5 Cr
—
₹6 Cr
₹6 Cr
₹6 Cr
₹4 Cr
—
₹1 Cr
—
₹6 Cr
—

NCC Ltd · NCC

—
₹1.3K Cr
—
—
—
₹974 Cr
—
—
—
₹980 Cr
—
—
—
—
₹1.6K Cr
—
₹2.9K Cr
—
₹3.5K Cr
—

PSP Projects Ltd · PSPPROJECT

₹189 Cr
₹100 Cr
₹100 Cr
₹158 Cr
—
₹145 Cr
₹145 Cr
₹400 Cr
₹477 Cr
₹455 Cr
—
₹455 Cr
₹274 Cr
₹274 Cr
₹272 Cr
₹272 Cr
₹364 Cr
₹364 Cr
₹330 Cr
—

RDB Infrastructure and Power Ltd · 533285

—
₹466 Cr
—
—
—
₹496 Cr
—
—
—
₹669 Cr
—
—
—
—
₹77 Cr
—
₹62 Cr
—
₹57 Cr
—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

₹221 Cr
₹165 Cr
₹165 Cr
₹163 Cr
₹163 Cr
₹142 Cr
₹142 Cr
₹186 Cr
₹186 Cr
₹152 Cr
—
₹194 Cr
₹233 Cr
₹233 Cr
₹206 Cr
₹206 Cr
₹275 Cr
₹275 Cr
₹300 Cr
—

Net debt · reported quarter history

BEML Land Assets Ltd · BLAL⚠ unverified

—
—
—
—
—
₹1 Cr
—
—
—
₹4 Cr
—
₹4 Cr
—
—
₹9 Cr
₹9 Cr
₹12 Cr
₹12 Cr
₹12 Cr
—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

₹1.4K Cr
₹1.4K Cr
₹1.4K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹132 Cr
—
₹132 Cr
₹132 Cr
₹132 Cr
₹-71 Cr
₹-71 Cr
₹-159 Cr
₹-159 Cr
₹-43 Cr
—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
—
—
—
—
—
₹0 Cr
₹-1 Cr
₹-3 Cr
₹-3 Cr
₹-2 Cr
₹-44 Cr
₹-15 Cr
₹-15 Cr
₹-11 Cr
—

Mahindra Lifespace Developers Ltd · MAHLIFE

₹7 Cr
₹73 Cr
₹73 Cr
₹114 Cr
₹114 Cr
₹19 Cr
₹19 Cr
₹32 Cr
₹32 Cr
₹698 Cr
—
₹698 Cr
₹597 Cr
₹597 Cr
₹1.1K Cr
₹1.1K Cr
₹-122 Cr
₹-122 Cr
₹78 Cr
—

Modis Navnirman Ltd · MODIS⚠ unverified

₹19 Cr
₹19 Cr
₹-1 Cr
₹-1 Cr
₹4 Cr
₹4 Cr
₹12 Cr
₹12 Cr
₹-2 Cr
₹-2 Cr
—
₹3 Cr
₹3 Cr
₹3 Cr
₹1 Cr
—
—
—
₹1 Cr
—

PSP Projects Ltd · PSPPROJECT

₹-6 Cr
₹-96 Cr
₹-96 Cr
₹-79 Cr
—
₹-97 Cr
₹-97 Cr
₹153 Cr
₹247 Cr
₹228 Cr
—
₹228 Cr
₹-5 Cr
₹-5 Cr
₹64 Cr
₹64 Cr
₹172 Cr
₹172 Cr
₹-86 Cr
—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

₹148 Cr
₹104 Cr
₹62 Cr
₹45 Cr
₹45 Cr
₹77 Cr
₹30 Cr
₹83 Cr
₹83 Cr
₹132 Cr
—
₹108 Cr
₹183 Cr
₹183 Cr
₹82 Cr
₹-28 Cr
₹1 Cr
₹1 Cr
₹197 Cr
—
06 · compare level, then change

Return On Capital Employed

Garuda Construction and Engineering Ltd has the highest ROCE among the 12 Construction & Contracting companies compared here, at 41.8%. Ashoka Buildcon Ltd is next at 26.5%. The same company also holds the highest ROCE change, at +15.9 percentage points. 12 of 12 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Garuda Construction and Engineering Ltd leads ROCE at 41.8%, 15.3 percentage points above Ashoka Buildcon Ltd. Garuda Construction and Engineering Ltd has the strongest latest improvement at +15.9 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderGaruda Construction and Engineering Ltd · 41.8%
Gap57.7% versus #2 · Ashoka Buildcon Ltd
Persistence3/3 recent comparable periods
Coverage12/12 companies · 89 observations

Investor read: Garuda Construction and Engineering Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Garuda Construction and Engineering Ltd GARUDA⚠ unverified42%
2Ashoka Buildcon Ltd ASHOKA27%
3Modis Navnirman Ltd MODIS⚠ unverified26%
4NCC Ltd NCC17%
5Man Infraconstruction Ltd MANINFRA13%
ROCE changefastest improvers
1Garuda Construction and Engineering Ltd GARUDA⚠ unverified+15.9 pp
2BEML Land Assets Ltd BLAL⚠ unverified+14.2 pp
3Modis Navnirman Ltd MODIS⚠ unverified+5.6 pp
4Mahindra Lifespace Developers Ltd MAHLIFE+2.8 pp
5RDB Infrastructure and Power Ltd 533285+2.0 pp
Return on capital · company comparison
12/12 level · 12/12 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

Withheld from this chart: NCC Ltd (NCC) — its two data sources disagree by up to 9.5% on reported income across 14 comparable periods, so its derived ratios are withheld; Man Infraconstruction Ltd (MANINFRA) — its two data sources disagree by up to 20% on reported income across 14 comparable periods, so its derived ratios are withheld; Ashoka Buildcon Ltd (ASHOKA) — its two data sources disagree by up to 15% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyROCEROCE changeReported
Garuda Construction and Engineering Ltd GARUDA⚠ unverified36%+15.9 ppMar 2026
Modis Navnirman Ltd MODIS⚠ unverified26%+5.6 ppMar 2026
PSP Projects Ltd PSPPROJECT7.9%−1.1 ppMar 2026
Vascon Engineers Ltd VASCONEQ⚠ unverified3.6%−3.3 ppMar 2026
Mahindra Lifespace Developers Ltd MAHLIFE-4.0%+2.8 ppJun 2026
Consolidated Construction Consortium Ltd CCCL⚠ unverified-7.6%+1.2 ppMar 2026
BEML Land Assets Ltd BLAL⚠ unverified-16%+14.2 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

BEML Land Assets Ltd · BLAL⚠ unverified

—
—
—
—
-2.8%
-4.6%
—
-29%
-40%
-35%
—
-33%
-36%
-30%
-31%
-35%
-32%
-32%
-16%
—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

—
15%
—
15%
—
6.6%
—
4.1%
—
-664%
—
747%
-446%
984%
-8.8%
124%
-12%
69%
-7.6%
—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
—
—
—
—
—
3.8%
—
21%
—
20%
40%
29%
55%
36%
—

Mahindra Lifespace Developers Ltd · MAHLIFE

—
-4.1%
—
-7.2%
—
-6.1%
—
-6.7%
0.3%
-7.3%
—
3.7%
-8.0%
3.0%
-6.8%
4.7%
-6.3%
11%
-4.0%
—

Modis Navnirman Ltd · MODIS⚠ unverified

-2.6%
4.8%
14%
25%
22%
23%
19%
18%
9.6%
9.9%
—
9.7%
11%
—
20%
—
—
—
26%
—

PSP Projects Ltd · PSPPROJECT

—
32%
—
29%
—
23%
—
26%
25%
21%
—
25%
13%
13%
9.0%
6.9%
5.7%
8.0%
7.9%
—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

—
2.9%
—
5.1%
—
11%
—
10%
12%
8.6%
—
8.7%
4.5%
15%
6.9%
16%
6.5%
9.1%
3.6%
—

ROCE change · reported quarter history

BEML Land Assets Ltd · BLAL⚠ unverified

—
—
—
—
—
—
—
—
−37.3 pp
−29.9 pp
—
−3.8 pp
+3.7 pp
+4.7 pp
—
−2.2 pp
+4.5 pp
−1.7 pp
+14.2 pp
—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

—
—
—
—
—
−8.7 pp
—
−10.5 pp
—
−670.6 pp
—
+742.8 pp
—
+1,648.0 pp
—
−623.3 pp
+434.0 pp
−915.2 pp
+1.2 pp
—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
+16.3 pp
—
+7.6 pp
—
+15.9 pp
—

Mahindra Lifespace Developers Ltd · MAHLIFE

—
—
—
—
—
−2.0 pp
—
+0.5 pp
—
−1.2 pp
—
+10.4 pp
−8.3 pp
+10.3 pp
—
+1.0 pp
+1.7 pp
+7.7 pp
+2.8 pp
—

Modis Navnirman Ltd · MODIS⚠ unverified

—
—
—
—
+24.2 pp
+18.3 pp
+4.8 pp
−6.7 pp
−12.0 pp
−13.2 pp
—
−8.6 pp
+1.2 pp
—
—
—
—
—
+5.6 pp
—

PSP Projects Ltd · PSPPROJECT

—
—
—
—
—
−9.6 pp
—
−2.9 pp
—
−2.1 pp
—
−1.5 pp
−11.9 pp
−7.1 pp
—
−17.7 pp
−7.4 pp
−5.4 pp
−1.1 pp
—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

—
—
—
—
—
+7.9 pp
—
+5.1 pp
—
−2.2 pp
—
−1.5 pp
−7.4 pp
+5.9 pp
—
+7.7 pp
+2.0 pp
−5.4 pp
−3.3 pp
—
07 · compare level, then change

Valuation Against Growth & Quality

PSP Projects Ltd has the lowest Guarded PEG among the 12 Construction & Contracting companies compared here, at 0.65×. Mahindra Lifespace Developers Ltd is next at 6.53×. Ashoka Buildcon Ltd has the lowest P/E at 4.22×, so level and change sit with different companies. 2 of 12 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: PSP Projects Ltd has the lowest comparable Guarded PEG at 0.65×, 90% below Mahindra Lifespace Developers Ltd. Only 2 of 12 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderPSP Projects Ltd · 0.65×
Gap90% versus #2 · Mahindra Lifespace Developers Ltd
Persistence0/8 recent comparable periods
Coverage2/12 companies · 6 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1PSP Projects Ltd PSPPROJECT0.7
2Mahindra Lifespace Developers Ltd MAHLIFE6.5
P/Elowest P/E
1Ashoka Buildcon Ltd ASHOKA4.2
2Consolidated Construction Consortium Ltd CCCL⚠ unverified11.6
3NCC Ltd NCC12.3
4Garuda Construction and Engineering Ltd GARUDA⚠ unverified13.3
5Man Infraconstruction Ltd MANINFRA21.1
Valuation · company comparison
2/12 level · 11/12 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGuarded PEGP/EReported
Mahindra Lifespace Developers Ltd MAHLIFE6.527.9Jun 2026
PSP Projects Ltd PSPPROJECT0.759.1Mar 2026
RDB Infrastructure and Power Ltd 533285—30.3Mar 2026
NCC Ltd NCC—11.5Mar 2026
Man Infraconstruction Ltd MANINFRA—14.4Mar 2026
Ashoka Buildcon Ltd ASHOKA—2.9Mar 2026
Garuda Construction and Engineering Ltd GARUDA⚠ unverified—12.6Mar 2026
Modis Navnirman Ltd MODIS⚠ unverified—25.6Mar 2026
Vascon Engineers Ltd VASCONEQ⚠ unverified—8.8Mar 2026
BEML Land Assets Ltd BLAL⚠ unverified—-200.0Mar 2026
Consolidated Construction Consortium Ltd CCCL⚠ unverified—5.7Mar 2026
Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Mahindra Lifespace Developers Ltd · MAHLIFE

—
—
—
—
2.0
—
—
—
—
—
—
—
—
—
6.5
—
—
—
—
—

PSP Projects Ltd · PSPPROJECT

—
—
0.7
0.2
0.9
—
0.7
—
—
—
—
—
—
—
—
—
—
—
—
—

P/E · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

7.2
6.3
4.2
4.1
4.8
3.7
8.3
16.9
15.5
20.7
—
13.7
11.9
9.3
3.7
3.5
3.0
3.2
2.9
—

BEML Land Assets Ltd · BLAL⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
-200.0
—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

—
—
—
—
—
—
—
—
—
0.1
—
—
1.4
—
7.3
5.2
—
5.7
—
—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
35.2
19.3
23.4
24.3
21.3
12.6
—

Mahindra Lifespace Developers Ltd · MAHLIFE

-391.8
39.7
122.8
75.3
65.7
81.5
233.8
303.6
309.0
421.3
—
118.9
92.2
76.9
122.7
122.9
76.9
51.7
24.4
27.9

Man Infraconstruction Ltd · MANINFRA

21.9
19.9
13.1
14.9
16.8
11.8
16.4
18.7
25.3
24.0
—
24.2
24.9
35.1
20.5
24.4
21.5
18.2
14.4
—

Modis Navnirman Ltd · MODIS⚠ unverified

—
—
—
107.2
35.2
40.7
54.2
50.3
48.5
73.4
—
69.7
203.7
188.7
207.2
—
28.4
28.8
25.6
—

NCC Ltd · NCC

12.7
10.7
10.4
11.1
11.9
12.8
12.4
14.7
17.2
21.7
—
27.2
24.7
20.5
15.9
17.6
15.8
12.5
11.5
—

PSP Projects Ltd · PSPPROJECT

13.2
12.5
11.5
13.5
16.2
17.1
19.5
20.4
17.5
16.1
—
20.1
20.1
27.7
37.4
53.1
126.3
121.9
59.1
—

RDB Infrastructure and Power Ltd · 533285

10.9
12.5
9.2
11.2
9.7
7.1
5.9
5.0
8.1
12.3
—
13.2
33.1
47.0
52.2
44.7
41.3
53.6
30.3
—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

117.7
19.4
12.4
11.2
10.0
8.9
9.6
12.7
15.7
13.7
—
25.5
23.6
24.3
18.0
18.5
16.7
12.7
8.8
—
08 · compare level, then change

Enterprise Value & Book Value

Ashoka Buildcon Ltd has the lowest EV/EBITDA among the 12 Construction & Contracting companies compared here, at 1.4×. NCC Ltd is next at 5.4×. The same company also holds the lowest P/BV, at 0.52×. 11 of 12 companies report a comparable reading, the latest through Mar 2026. Its EV/EBITDA series carries 18 reported observations across the 20-quarter window.

What the numbers say: Ashoka Buildcon Ltd leads both ev/ebitda at 1.4× and p/bv at 0.52×.

LeaderAshoka Buildcon Ltd · 1.4×
Gap74.1% versus #2 · NCC Ltd
Persistence0/8 recent comparable periods
Coverage11/12 companies · 164 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1Ashoka Buildcon Ltd ASHOKA1.4
2NCC Ltd NCC5.4
3Vascon Engineers Ltd VASCONEQ⚠ unverified6.6
4Man Infraconstruction Ltd MANINFRA7.9
5Garuda Construction and Engineering Ltd GARUDA⚠ unverified9.1
P/BVlowest P/BV
1Ashoka Buildcon Ltd ASHOKA0.5
2Vascon Engineers Ltd VASCONEQ⚠ unverified0.7
3NCC Ltd NCC1.1
4RDB Infrastructure and Power Ltd 5332851.7
5Man Infraconstruction Ltd MANINFRA1.7
Enterprise and book valuation · company comparison
11/12 level · 11/12 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyEV/EBITDAP/BVReported
Consolidated Construction Consortium Ltd CCCL⚠ unverified257.72.2Mar 2026
Jaiprakash Associates Ltd JPASSOCIAT99.7-0.2Dec 2025
Mahindra Lifespace Developers Ltd MAHLIFE28.23.9Jun 2026
Modis Navnirman Ltd MODIS⚠ unverified20.84.6Mar 2026
RDB Infrastructure and Power Ltd 53328516.83.0Mar 2026
PSP Projects Ltd PSPPROJECT14.42.0Mar 2026
Garuda Construction and Engineering Ltd GARUDA⚠ unverified9.13.5Mar 2026
Man Infraconstruction Ltd MANINFRA7.91.6Mar 2026
Vascon Engineers Ltd VASCONEQ⚠ unverified6.60.6Mar 2026
NCC Ltd NCC5.41.1Mar 2026
Ashoka Buildcon Ltd ASHOKA1.40.7Mar 2026
BEML Land Assets Ltd BLAL⚠ unverified—-308.7Mar 2026
Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

5.0
4.9
4.2
2.8
3.0
2.3
2.4
4.0
2.6
2.7
—
4.6
4.4
4.6
3.6
3.4
2.2
1.9
1.4
—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
189.3
—
288.0
257.7
—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
26.3
14.3
16.4
18.0
15.5
9.1
—

Jaiprakash Associates Ltd · JPASSOCIAT

19.3
19.1
77.8
59.4
58.3
43.1
26.9
23.8
24.4
25.1
—
26.0
19.5
19.8
21.2
35.1
87.4
99.7
—
—

Mahindra Lifespace Developers Ltd · MAHLIFE

—
—
513.5
110.1
147.0
195.6
150.4
175.2
—
564.6
—
157.5
119.6
84.3
84.4
77.0
60.7
40.1
20.9
28.2

Man Infraconstruction Ltd · MANINFRA

9.5
9.3
6.9
7.5
9.3
6.9
9.5
10.7
15.7
15.1
—
16.3
16.0
22.2
13.8
15.8
14.4
11.8
7.9
—

Modis Navnirman Ltd · MODIS⚠ unverified

—
—
—
223.0
27.9
32.5
43.2
31.2
30.9
52.0
—
64.9
183.0
170.9
187.6
—
23.1
23.4
20.8
—

NCC Ltd · NCC

5.4
4.8
4.5
4.8
5.2
5.3
5.2
5.8
6.5
8.4
—
10.6
9.5
8.7
6.8
6.8
6.2
6.0
5.4
—

PSP Projects Ltd · PSPPROJECT

8.0
7.5
6.3
7.7
8.8
8.9
9.7
10.2
9.5
8.4
—
9.2
9.7
10.4
11.5
16.4
21.1
22.5
14.4
—

RDB Infrastructure and Power Ltd · 533285

36.4
44.9
37.0
45.0
30.4
23.6
16.8
14.1
17.7
18.7
—
19.6
28.0
33.9
36.0
35.7
34.5
28.0
16.8
—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

17.0
9.9
7.5
7.2
7.3
6.5
7.9
10.4
13.2
11.7
—
18.2
16.8
16.8
12.3
12.9
11.1
9.3
6.6
—

P/BV · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

3.7
3.3
3.3
1.4
1.6
1.5
1.6
2.0
2.0
2.3
—
3.8
2.9
2.9
1.9
2.7
1.4
1.1
0.7
—

BEML Land Assets Ltd · BLAL⚠ unverified

—
—
—
—
—
—
—
—
142.9
162.1
—
253.6
212.6
499.9
431.3
185.5
788.3
-406.0
-308.7
—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

-0.1
-0.2
-0.2
-0.1
-0.1
-0.1
-0.1
-0.1
-0.1
2.2
—
2.2
24.4
8.7
8.4
20.4
5.2
2.9
2.2
—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
9.0
7.0
3.5
5.2
4.7
3.5
—

Jaiprakash Associates Ltd · JPASSOCIAT

2.5
2.3
1.2
-3.3
-3.9
-2.8
—
-2.3
-2.9
-2.6
—
-2.0
-0.6
-0.4
-0.2
-0.3
-0.1
-0.2
—
—

Mahindra Lifespace Developers Ltd · MAHLIFE

2.9
3.9
4.5
5.0
3.9
3.8
5.1
6.0
6.1
6.6
—
6.5
5.7
5.0
3.2
4.0
4.0
2.4
1.9
3.9

Man Infraconstruction Ltd · MANINFRA

4.6
4.7
4.1
3.5
2.9
3.0
4.9
5.2
6.6
6.2
—
6.7
5.0
6.0
3.5
4.7
3.2
2.4
1.6
—

Modis Navnirman Ltd · MODIS⚠ unverified

—
—
—
4.4
7.5
8.6
10.5
9.0
8.4
12.7
—
11.6
7.0
5.1
5.6
—
5.2
5.2
4.6
—

NCC Ltd · NCC

0.8
0.7
0.6
0.8
0.9
1.1
1.3
1.6
1.7
2.3
—
3.2
2.9
2.5
1.9
2.2
1.7
1.3
1.1
—

PSP Projects Ltd · PSPPROJECT

3.0
3.3
3.6
3.2
3.5
3.5
3.7
3.6
3.2
2.9
—
3.1
2.6
2.2
2.1
3.0
2.5
2.8
2.0
—

RDB Infrastructure and Power Ltd · 533285

0.4
0.4
0.3
0.4
0.5
0.4
0.6
0.6
0.9
1.2
—
1.4
3.6
4.6
—
—
4.5
4.7
3.0
—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

0.8
0.8
0.5
0.7
0.9
0.7
1.2
1.6
1.6
1.4
—
1.7
1.4
1.2
0.8
1.2
1.2
0.9
0.6
—
09 · let price answer last

Market action

PSP Projects Ltd has the strongest one-year price move in Construction & Contracting at +28%. It also leads on Mansfield relative strength against NIFTY at +28.8%. 3 of 12 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Construction & Contracting comparison names 8 specific ways its own evidence can mislead, all listed below. 1 of the 12 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. 5 draw at least one figure from a second feed with too little overlap to cross-check.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
  • 5 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
  • 3 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
  • Thin comparisons: Capital expenditure, Valuation have fewer than three usable current readings.
10 · the complete set

Which companies are included?

All 12 companies in the canonical Construction & Contracting membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. 1 of these is no longer being priced, so its price and relative strength are frozen at the last traded week shown.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

CompanyMarket valuePricePriced toLatest fundamentalsSource standing
NCC Ltd NCC₹8.6K Cr₹1372026-07-19Mar 2026Second feed withheld
Mahindra Lifespace Developers Ltd MAHLIFEAHEAD₹8.0K Cr₹3752026-07-19Jun 2026Cross-checked
PSP Projects Ltd PSPPROJECTAHEAD₹4.1K Cr₹1,0312026-07-19Mar 2026Cross-checked
Man Infraconstruction Ltd MANINFRA₹3.9K Cr₹96.72026-07-19Mar 2026Second feed withheld
Ashoka Buildcon Ltd ASHOKALAGGING, FUNDAMENTALS UP₹3.4K Cr₹1212026-07-19Mar 2026Second feed withheld
Garuda Construction and Engineering Ltd GARUDA⚠ unverified₹1.6K Cr₹1752026-07-19Mar 2026Includes unverified figures
Modis Navnirman Ltd MODIS⚠ unverified₹768 Cr₹3922026-07-19Mar 2026Includes unverified figures
Vascon Engineers Ltd VASCONEQ⚠ unverified₹749 Cr₹32.32026-07-19Mar 2026Includes unverified figures
BEML Land Assets Ltd BLAL⚠ unverified₹733 Cr₹1762026-07-19Mar 2026Includes unverified figures
Consolidated Construction Consortium Ltd CCCL⚠ unverified₹709 Cr₹15.92026-07-19Mar 2026Includes unverified figures
Jaiprakash Associates Ltd JPASSOCIAT₹594 Cr₹2.42026-03-22 · not currently pricedDec 2025Primary source only
RDB Infrastructure and Power Ltd 533285₹485 Cr₹21.72026-06-28Mar 2026Primary source only
How each company's sources stand: 5 of 12 companies draw at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear. 3 of 12 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: NCC Ltd (NCC) — its two data sources disagree by up to 9.5% on reported income across 14 comparable periods, so its derived ratios are withheld; Man Infraconstruction Ltd (MANINFRA) — its two data sources disagree by up to 20% on reported income across 14 comparable periods, so its derived ratios are withheld; Ashoka Buildcon Ltd (ASHOKA) — its two data sources disagree by up to 15% on reported income across 14 comparable periods, so its derived ratios are withheld.
Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 12 Construction & Contracting companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-24 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing2 cross-checked · 7 unverified · 3 withheld, of 12 graded companies.

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.

Questions investors ask · short, speakable answers

Construction & Contracting company comparison FAQs

These 18 answers restate the Construction & Contracting comparison above in question form. Every one is computed from the same 12 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.

What is the Nifty Construction & Contracting index?

The Nifty Construction & Contracting index tracks India's listed Construction & Contracting companies as a single basket. This page follows the same 12 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Construction & Contracting sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best Construction & Contracting stocks in India?

Ranked by this page's four-factor score, Garuda Construction and Engineering Ltd places first among 12 listed Construction & Contracting companies, followed by Modis Navnirman Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Construction & Contracting stocks are listed in India?

This comparison covers 12 listed Construction & Contracting companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Construction & Contracting company is the biggest?

NCC Ltd is the largest, with trailing-twelve-month revenue of ₹20,823 crore, ahead of Ashoka Buildcon Ltd at ₹7,519 crore. That covers 12 of 12 companies with comparable reporting through Mar 2026.

Which Construction & Contracting company is growing fastest?

Garuda Construction and Engineering Ltd has the fastest revenue growth at 100% year on year, across 11 of 12 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Construction & Contracting company has the best profit margins?

BEML Land Assets Ltd has the highest operating margin at 82.7%, from 12 of 12 comparable companies. Mahindra Lifespace Developers Ltd shows the biggest recent improvement, at +182 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Construction & Contracting company makes the most profit?

Ashoka Buildcon Ltd earns the most, at ₹2,576 crore of trailing-twelve-month net profit, from 12 of 12 comparable companies. RDB Infrastructure and Power Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Construction & Contracting company earns the highest return on capital?

Garuda Construction and Engineering Ltd leads on return on capital employed at 41.8%, across 12 of 12 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Construction & Contracting stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — PSP Projects Ltd screens cheapest at 0.65×. Only 2 of 12 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Construction & Contracting company has the strongest balance sheet?

BEML Land Assets Ltd carries the lowest comparable gross debt at ₹0 crore, from 12 of 12 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Construction & Contracting stock has the strongest price momentum?

PSP Projects Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Construction & Contracting company scores highest for research priority?

Garuda Construction and Engineering Ltd scores 73.8 out of 100 with 75.8% evidence confidence, from 29.8 points on growth and earnings, 21.9 on capital efficiency, 10.6 on valuation and 11.5 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Construction & Contracting companies does this comparison cover, and over what period?

It compares 12 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Construction & Contracting sector?

The 12 Construction & Contracting companies on this page carry ₹33,647 crore of combined market value. NCC Ltd is the largest at ₹8,607 crore, about 26% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

What is the Construction & Contracting sector's P/E ratio?

The median price-to-earnings ratio across the 12 Construction & Contracting companies on this page is 25.7×, measured on the 11 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.

How is the Construction & Contracting sector performing?

3 of the 12 covered Construction & Contracting companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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