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.

01 · the index people search for

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.

02 · the sector itself · before any single company

How has Construction & Contracting moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 5% behind NIFTY 500. Earnings across its companies grew 49% on average over the last four reported quarters.

ASLEEP · 1y −8.9%~Moving with the index2 of 12 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 — · 3/12 >200d (−1) · 2/12 lead (−6) · EPS 7/12↑

Construction & Contracting, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

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 12 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.

03 · sector relative strength, before individual stocks

Is Construction & Contracting outperforming NIFTY 500?

Construction & Contracting has underperformed NIFTY 500 by 16.6% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 7.2%. 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 +32.8%. Readings are as of 2026-07-19.

-7.2%Sector vs NIFTY 500 · 13 weeks

-16.6%Sector vs NIFTY 500 · 52 weeks

3/12Stocks leading NIFTY 500

4/12Stocks 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

Construction & Contracting has underperformed NIFTY 500 by 16.6% over 52 weeks and 7.2% over 13 weeks. 3 of 12 covered companies beat NIFTY on Mansfield relative strength, while 4 of 12 beat the sector itself. NCC Ltd leads with revenue of ₹20,823 crore, based on 12 of 12 comparable companies through Mar 2026.

Companies

complete canonical membership

Combined market value

₹34.1K Cr

NCC Ltd

Revenue growing

6/11

positive TTM year-on-year growth

Beating NIFTY 500

3/12

positive Mansfield relative strength

Comparing 5 of 12

04 · 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.

How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1Garuda Construction and Engineering LtdGARUDA	75.5/100Favorable setup76% evidence	FADING	29.7/35 Revenue 100% · PAT 100% · OPM change 2 pp 83% evidence	22.6/25 ROCE 41.8% · OPM 32% 95% evidence	10.6/20 P/E 13.1× · PEG — 15% evidence	12.6/20 RS sector 3.9% · RS bench -7.9% · 1Y 1.5%2 of 12 weeks ahead 100% evidence
Exact sum: 29.7 + 22.6 + 10.6 + 12.6 = 75.5 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Modis Navnirman LtdMODIS	65.8/100Favorable setup79% evidence	FADING	21.5/35 Revenue 30.6% · PAT 29.9% · OPM change -6.4 pp 71% evidence	16.8/25 ROCE 25.8% · OPM 9.3% 95% evidence	13.5/20 P/E 26.4× · PEG — 50% evidence	14.0/20 RS sector 30.8% · RS bench 17% · 1Y 41%7 of 12 weeks ahead 100% evidence
Exact sum: 21.5 + 16.8 + 13.5 + 14 = 65.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3PSP Projects LtdPSPPROJECT	64.4/100Mixed-positive evidence84% evidence	LEADER	20.2/35 Revenue 44.7% · PAT 100% · OPM change 1.2 pp 74% evidence	10.4/25 ROCE 7.9% · OPM 6% 100% evidence	13.8/20 P/E 52.8× · PEG 0.65 65% evidence	20.0/20 RS sector 32.8% · RS bench 18.5% · 1Y 20.8%10 of 12 weeks ahead 100% evidence
Exact sum: 20.2 + 10.4 + 13.8 + 20 = 64.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Mahindra Lifespace Developers LtdMAHLIFE	57.2/100Mixed-positive evidence87% evidence	TURNING	29.9/35 Revenue 100% · PAT 100% · OPM change 182 pp 100% evidence	7.3/25 ROCE 7.6% · OPM 10% 100% evidence	4.7/20 P/E 27× · PEG 6.53 65% evidence	15.3/20 RS sector 12.2% · RS bench 6.6% · 1Y 6.1%4 of 10 weeks ahead 70% evidence
Exact sum: 29.9 + 7.3 + 4.7 + 15.3 = 57.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Ashoka Buildcon LtdASHOKA	49.2/100Mixed-negative evidence71% evidence	ASLEEP	11.1/35 Revenue -25.1% · PAT 48.6% · OPM change -16 pp 83% evidence	18.4/25 ROCE 26.5% · OPM 13% 76% evidence	11.5/20 P/E 4.2× · PEG — 15% evidence	8.2/20 RS sector -11.5% · RS bench -22.2% · 1Y -39.9%3 of 12 weeks ahead 100% evidence
Exact sum: 11.1 + 18.4 + 11.5 + 8.2 = 49.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6NCC LtdNCC	46.8/100Mixed-negative evidence72% evidence	ASLEEP	12.4/35 Revenue -6.2% · PAT -16.7% · OPM change 0 pp 83% evidence	15.6/25 ROCE 16.8% · OPM 9% 76% evidence	11.7/20 P/E 12.7× · PEG — 50% evidence	7.1/20 RS sector -8.3% · RS bench -17.6% · 1Y -35.4%1 of 10 weeks ahead 70% evidence
Exact sum: 12.4 + 15.6 + 11.7 + 7.1 = 46.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7BEML Land Assets LtdBLAL	43.9/100Thin evidence · provisional58% evidence	ASLEEP	19.8/35 Revenue — · PAT 100% · OPM change — 33% evidence	7.0/25 ROCE -193% · OPM 67.3% 95% evidence	8.5/20 P/E 314× · PEG — 15% evidence	8.6/20 RS sector -1.9% · RS bench -12.9% · 1Y -18.2%1 of 12 weeks ahead 100% evidence
Exact sum: 19.8 + 7 + 8.5 + 8.6 = 43.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
8Consolidated Construction Consortium LtdCCCL	42.9/100Mixed-negative evidence74% evidence	ASLEEP	18.0/35 Revenue 77.3% · PAT -80% · OPM change 34 pp 95% evidence	5.2/25 ROCE -1.9% · OPM -8.3% 95% evidence	11.2/20 P/E 11.6× · PEG — 15% evidence	8.5/20 RS sector -3.2% · RS bench -14.8% · 1Y -7.4%1 of 10 weeks ahead 70% evidence
Exact sum: 18 + 5.2 + 11.2 + 8.5 = 42.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9RDB Infrastructure and Power Ltd533285	41.3/100Mixed-negative evidence71% evidence		22.8/35 Revenue 18.6% · PAT 100% · OPM change -1.4 pp 83% evidence	9.4/25 ROCE 7% · OPM 3.1% 76% evidence	9.1/20 P/E 38.9× · PEG — 15% evidence	0.0/20 RS sector -47.5% · RS bench -52.3% · 1Y -55.3%0 of 7 weeks ahead to 2026-06-28 100% evidence
Exact sum: 22.8 + 9.4 + 9.1 + 0 = 41.3 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -47.5% and the one-year return is -55.3%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
10Man Infraconstruction LtdMANINFRA	38.3/100Mixed-negative evidence72% evidence	ASLEEP	7.1/35 Revenue -43% · PAT -32.4% · OPM change -23 pp 83% evidence	15.1/25 ROCE 13.2% · OPM 13% 76% evidence	11.4/20 P/E 21.4× · PEG — 50% evidence	4.7/20 RS sector -21.2% · RS bench -21.1% · 1Y -44%7 of 10 weeks ahead 70% evidence
Exact sum: 7.1 + 15.1 + 11.4 + 4.7 = 38.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Vascon Engineers LtdVASCONEQ	31.6/100Adverse evidence70% evidence	ASLEEP	10.1/35 Revenue -11.9% · PAT -62.5% · OPM change -5.5 pp 83% evidence	7.7/25 ROCE 4.7% · OPM 4.2% 95% evidence	9.4/20 P/E 29.8× · PEG — 15% evidence	4.4/20 RS sector -20.9% · RS bench -29.3% · 1Y -39.6%1 of 10 weeks ahead 70% evidence
Exact sum: 10.1 + 7.7 + 9.4 + 4.4 = 31.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Jaiprakash Associates LtdJPASSOCIAT	31.6/100Thin evidence · provisional46% evidence		12.0/35 Revenue -50.3% · PAT 49.8% · OPM change -11 pp 40% evidence	4.4/25 ROCE -2% · OPM -11% 71% evidence	10.0/20 P/E — · PEG — 0% evidence	5.2/20 RS sector -12.2% · RS bench -24% · 1Y -23.7%3 of 12 weeks ahead to 2026-03-22 70% evidence
Exact sum: 12 + 4.4 + 10 + 5.2 = 31.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Showing 10 of 12 companies

05 · what price has already done

Market action

Modis Navnirman Ltd has the strongest one-year price move in Construction & Contracting at +41%. PSP Projects Ltd leads on Mansfield relative strength against NIFTY at +18.5%. 3 of 12 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · 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 · 174 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

3PSP Projects Ltd PSPPROJECT₹3.5K Cr

4Jaiprakash Associates Ltd JPASSOCIAT · older report₹3.2K 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⚠ unverified77%

4PSP Projects Ltd PSPPROJECT45%

5Modis Navnirman Ltd MODIS⚠ unverified31%

Revenue · company comparison

12/12 level · 11/12 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
NCC Ltd NCC	₹6.2K Cr	1.7%	Mar 2026
Ashoka Buildcon Ltd ASHOKA	₹2.0K Cr	-27%	Mar 2026
Mahindra Lifespace Developers Ltd MAHLIFE	₹962 Cr	2,906%	Jun 2026
PSP Projects Ltd PSPPROJECT	₹853 Cr	65%	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 Cr	82%	Mar 2026
Man Infraconstruction Ltd MANINFRA	₹146 Cr	-50%	Mar 2026
Consolidated Construction Consortium Ltd CCCL⚠ unverified	₹120 Cr	134%	Jun 2026
Modis Navnirman Ltd MODIS⚠ unverified	₹51 Cr	158%	Mar 2026
RDB Infrastructure and Power Ltd 533285	₹22 Cr	7.7%	Mar 2026
BEML Land Assets Ltd BLAL⚠ unverified	₹1 Cr	—	Jun 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹2.0K Cr

Mar 2023₹2.4K Cr

Jun 2023₹1.9K Cr

Sep 2023₹2.2K Cr

Dec 2023₹2.7K Cr

Mar 2024₹3.1K Cr

Apr 2024—

Jun 2024₹2.5K Cr

Sep 2024₹2.5K Cr

Dec 2024₹2.4K Cr

Mar 2025₹2.7K Cr

Jun 2025₹1.9K Cr

Sep 2025₹1.9K Cr

Dec 2025₹1.8K Cr

Mar 2026₹2.0K Cr

Jun 2026—

BEML Land Assets Ltd · BLAL⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹0 Cr

Mar 2023₹0 Cr

Jun 2023₹0 Cr

Sep 2023₹0 Cr

Dec 2023₹0 Cr

Mar 2024₹0 Cr

Apr 2024—

Jun 2024₹0 Cr

Sep 2024₹0 Cr

Dec 2024₹0 Cr

Mar 2025₹0 Cr

Jun 2025₹0 Cr

Sep 2025₹0 Cr

Dec 2025₹0 Cr

Mar 2026₹1 Cr

Jun 2026₹1 Cr

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹30 Cr

Mar 2023₹36 Cr

Jun 2023₹22 Cr

Sep 2023₹35 Cr

Dec 2023₹44 Cr

Mar 2024₹30 Cr

Apr 2024—

Jun 2024₹28 Cr

Sep 2024₹57 Cr

Dec 2024₹52 Cr

Mar 2025₹45 Cr

Jun 2025₹51 Cr

Sep 2025₹66 Cr

Dec 2025₹74 Cr

Mar 2026₹103 Cr

Jun 2026₹120 Cr

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Apr 2024—

Jun 2024₹35 Cr

Sep 2024₹47 Cr

Dec 2024₹62 Cr

Mar 2025₹82 Cr

Jun 2025₹125 Cr

Sep 2025₹116 Cr

Dec 2025₹140 Cr

Mar 2026₹149 Cr

Jun 2026—

Jaiprakash Associates Ltd · JPASSOCIAT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹1.9K Cr

Mar 2023₹1.9K Cr

Jun 2023₹1.4K Cr

Sep 2023₹1.9K Cr

Dec 2023₹1.7K Cr

Mar 2024₹2.0K Cr

Apr 2024—

Jun 2024₹1.7K Cr

Sep 2024₹1.4K Cr

Dec 2024₹1.5K Cr

Mar 2025₹1.1K Cr

Jun 2025₹672 Cr

Sep 2025₹685 Cr

Dec 2025₹726 Cr

Mar 2026—

Jun 2026—

Mahindra Lifespace Developers Ltd · MAHLIFE

Dec 2021₹24 Cr

Mar 2022₹162 Cr

Jun 2022₹95 Cr

Sep 2022₹70 Cr

Dec 2022₹187 Cr

Mar 2023₹255 Cr

Jun 2023₹98 Cr

Sep 2023₹18 Cr

Dec 2023₹82 Cr

Mar 2024₹14 Cr

Apr 2024—

Jun 2024₹188 Cr

Sep 2024₹8 Cr

Dec 2024₹167 Cr

Mar 2025₹9 Cr

Jun 2025₹32 Cr

Sep 2025₹18 Cr

Dec 2025₹459 Cr

Mar 2026₹670 Cr

Jun 2026₹962 Cr

Man Infraconstruction Ltd · MANINFRA

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹457 Cr

Mar 2023₹680 Cr

Jun 2023₹510 Cr

Sep 2023₹215 Cr

Dec 2023₹242 Cr

Mar 2024₹297 Cr

Apr 2024—

Jun 2024₹342 Cr

Sep 2024₹230 Cr

Dec 2024₹242 Cr

Mar 2025₹294 Cr

Jun 2025₹183 Cr

Sep 2025₹149 Cr

Dec 2025₹153 Cr

Mar 2026₹146 Cr

Jun 2026—

Modis Navnirman Ltd · MODIS⚠ unverified

Dec 2021—

Mar 2022₹3 Cr

Jun 2022—

Sep 2022₹19 Cr

Dec 2022—

Mar 2023₹23 Cr

Jun 2023—

Sep 2023₹24 Cr

Dec 2023—

Mar 2024₹33 Cr

Apr 2024—

Jun 2024—

Sep 2024₹37 Cr

Dec 2024₹32 Cr

Mar 2025₹20 Cr

Jun 2025—

Sep 2025₹38 Cr

Dec 2025₹54 Cr

Mar 2026₹51 Cr

Jun 2026—

NCC Ltd · NCC

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹3.9K Cr

Mar 2023₹4.9K Cr

Jun 2023₹4.4K Cr

Sep 2023₹4.7K Cr

Dec 2023₹5.3K Cr

Mar 2024₹6.5K Cr

Apr 2024—

Jun 2024₹5.5K Cr

Sep 2024₹5.2K Cr

Dec 2024₹5.3K Cr

Mar 2025₹6.1K Cr

Jun 2025₹5.2K Cr

Sep 2025₹4.5K Cr

Dec 2025₹4.9K Cr

Mar 2026₹6.2K Cr

Jun 2026—

PSP Projects Ltd · PSPPROJECT

Dec 2021₹486 Cr

Mar 2022₹555 Cr

Jun 2022₹348 Cr

Sep 2022₹360 Cr

Dec 2022₹500 Cr

Mar 2023₹730 Cr

Jun 2023₹514 Cr

Sep 2023₹620 Cr

Dec 2023₹705 Cr

Mar 2024₹668 Cr

Apr 2024—

Jun 2024₹623 Cr

Sep 2024₹586 Cr

Dec 2024₹630 Cr

Mar 2025₹673 Cr

Jun 2025₹518 Cr

Sep 2025₹703 Cr

Dec 2025₹813 Cr

Mar 2026₹1.1K Cr

Jun 2026₹853 Cr

RDB Infrastructure and Power Ltd · 533285

Dec 2021₹15 Cr

Mar 2022₹40 Cr

Jun 2022₹13 Cr

Sep 2022₹16 Cr

Dec 2022₹32 Cr

Mar 2023₹67 Cr

Jun 2023₹11 Cr

Sep 2023₹23 Cr

Dec 2023₹16 Cr

Mar 2024₹61 Cr

Apr 2024—

Jun 2024₹31 Cr

Sep 2024₹32 Cr

Dec 2024₹24 Cr

Mar 2025₹20 Cr

Jun 2025₹68 Cr

Sep 2025₹19 Cr

Dec 2025₹20 Cr

Mar 2026₹22 Cr

Jun 2026—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹254 Cr

Mar 2023₹327 Cr

Jun 2023₹204 Cr

Sep 2023₹159 Cr

Dec 2023₹207 Cr

Mar 2024₹234 Cr

Apr 2024—

Jun 2024₹196 Cr

Sep 2024₹200 Cr

Dec 2024₹295 Cr

Mar 2025₹387 Cr

Jun 2025₹221 Cr

Sep 2025₹226 Cr

Dec 2025₹249 Cr

Mar 2026₹253 Cr

Jun 2026—

Revenue growth · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202336%

Mar 202425%

Apr 2024—

Jun 202427%

Sep 202416%

Dec 2024-10%

Mar 2025-12%

Jun 2025-23%

Sep 2025-26%

Dec 2025-23%

Mar 2026-27%

Jun 2026—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202346%

Mar 2024-16%

Apr 2024—

Jun 202427%

Sep 202462%

Dec 202420%

Mar 202551%

Jun 202582%

Sep 202517%

Dec 202542%

Mar 2026130%

Jun 2026134%

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Apr 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025257%

Sep 2025147%

Dec 2025126%

Mar 202682%

Jun 2026—

Jaiprakash Associates Ltd · JPASSOCIAT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-12%

Mar 20243.4%

Apr 2024—

Jun 202417%

Sep 2024-28%

Dec 2024-11%

Mar 2025-42%

Jun 2025-60%

Sep 2025-50%

Dec 2025-51%

Mar 2026—

Jun 2026—

Mahindra Lifespace Developers Ltd · MAHLIFE

Dec 2021—

Mar 2022—

Jun 2022-36%

Sep 202219%

Dec 2022679%

Mar 202357%

Jun 20233.2%

Sep 2023-74%

Dec 2023-56%

Mar 2024-95%

Apr 2024—

Jun 202492%

Sep 2024-56%

Dec 2024104%

Mar 2025-36%

Jun 2025-83%

Sep 2025125%

Dec 2025175%

Mar 20267,344%

Jun 20262,906%

Man Infraconstruction Ltd · MANINFRA

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-47%

Mar 2024-56%

Apr 2024—

Jun 2024-33%

Sep 20247.0%

Dec 20240.0%

Mar 2025-1.0%

Jun 2025-46%

Sep 2025-35%

Dec 2025-37%

Mar 2026-50%

Jun 2026—

Modis Navnirman Ltd · MODIS⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022238%

Dec 2022—

Mar 2023565%

Jun 2023—

Sep 202329%

Dec 2023—

Mar 202443%

Apr 2024—

Jun 2024—

Sep 202451%

Dec 2024—

Mar 2025-39%

Jun 2025—

Sep 20253.8%

Dec 202570%

Mar 2026158%

Jun 2026—

NCC Ltd · NCC

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202335%

Mar 202431%

Apr 2024—

Jun 202426%

Sep 202410%

Dec 20241.6%

Mar 2025-5.5%

Jun 2025-6.3%

Sep 2025-13%

Dec 2025-8.9%

Mar 20261.7%

Jun 2026—

PSP Projects Ltd · PSPPROJECT

Dec 2021—

Mar 2022—

Jun 20229.8%

Sep 2022-7.7%

Dec 20222.9%

Mar 202332%

Jun 202348%

Sep 202372%

Dec 202341%

Mar 2024-8.5%

Apr 2024—

Jun 202421%

Sep 2024-5.5%

Dec 2024-11%

Mar 20250.8%

Jun 2025-17%

Sep 202520%

Dec 202529%

Mar 202666%

Jun 202665%

RDB Infrastructure and Power Ltd · 533285

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202270%

Dec 2022111%

Mar 202369%

Jun 2023-19%

Sep 202341%

Dec 2023-50%

Mar 2024-9.5%

Apr 2024—

Jun 2024192%

Sep 202443%

Dec 202449%

Mar 2025-67%

Jun 2025120%

Sep 2025-43%

Dec 2025-18%

Mar 20267.7%

Jun 2026—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-19%

Mar 2024-29%

Apr 2024—

Jun 2024-4.0%

Sep 202425%

Dec 202443%

Mar 202566%

Jun 202513%

Sep 202513%

Dec 2025-15%

Mar 2026-35%

Jun 2026—

07 · 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 67.3%. 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 67.3%; Mahindra Lifespace Developers Ltd leads margin change at +182 percentage points.

LeaderBEML Land Assets Ltd · 67.3%

Gap110.3% versus #2 · Garuda Construction and Engineering Ltd

PersistenceNot enough history

Coverage12/12 companies · 187 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⚠ unverified67%

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+34.0 pp

3Garuda Construction and Engineering Ltd GARUDA⚠ unverified+2.0 pp

4PSP Projects Ltd PSPPROJECT+1.2 pp

5NCC Ltd NCC0.0 pp

Operating margin · company comparison

12/12 level · 11/12 change

All-company data · latest reported quarter

Company	OPM	Margin change	Reported
BEML Land Assets Ltd BLAL⚠ unverified	67%	—	Jun 2026
Garuda Construction and Engineering Ltd GARUDA⚠ unverified	32%	+2.0 pp	Mar 2026
Man Infraconstruction Ltd MANINFRA	13%	−23.0 pp	Mar 2026
Ashoka Buildcon Ltd ASHOKA	13%	−16.0 pp	Mar 2026
Mahindra Lifespace Developers Ltd MAHLIFE	10%	+182.0 pp	Jun 2026
Modis Navnirman Ltd MODIS⚠ unverified	9.3%	−6.4 pp	Mar 2026
NCC Ltd NCC	9.0%	0.0 pp	Mar 2026
PSP Projects Ltd PSPPROJECT	6.0%	+1.2 pp	Jun 2026
Vascon Engineers Ltd VASCONEQ⚠ unverified	4.2%	−5.5 pp	Mar 2026
RDB Infrastructure and Power Ltd 533285	3.1%	−1.4 pp	Mar 2026
Consolidated Construction Consortium Ltd CCCL⚠ unverified	-8.3%	+34.0 pp	Jun 2026
Jaiprakash Associates Ltd JPASSOCIAT	-11%	−11.0 pp	Dec 2025

Full 20-quarter history · every available company

OPM · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

Dec 202128%

Mar 202228%

Jun 202226%

Sep 202224%

Dec 202225%

Mar 202323%

Jun 202324%

Sep 202325%

Dec 202322%

Mar 202421%

Apr 2024—

Jun 202424%

Sep 202436%

Dec 202427%

Mar 202529%

Jun 202532%

Sep 202532%

Dec 202524%

Mar 202613%

Jun 2026—

BEML Land Assets Ltd · BLAL⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Apr 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 202683%

Jun 202667%

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

Dec 2021-21%

Mar 2022-163%

Jun 2022-34%

Sep 2022-13%

Dec 2022-51%

Mar 2023-2.8%

Jun 2023-21%

Sep 2023-1.7%

Dec 2023—

Mar 2024-160%

Apr 2024—

Jun 2024-15%

Sep 2024-24%

Dec 2024-55%

Mar 2025-17%

Jun 2025-42%

Sep 2025-5.9%

Dec 20251.3%

Mar 2026-8.0%

Jun 2026-8.3%

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 202333%

Dec 202332%

Mar 202432%

Apr 2024—

Jun 202433%

Sep 202429%

Dec 202428%

Mar 202530%

Jun 202529%

Sep 202530%

Dec 202532%

Mar 202632%

Jun 2026—

Jaiprakash Associates Ltd · JPASSOCIAT

Dec 20212.7%

Mar 2022-16%

Jun 20224.4%

Sep 20221.9%

Dec 20227.0%

Mar 202313%

Jun 20235.0%

Sep 20235.0%

Dec 20232.0%

Mar 20244.0%

Apr 2024—

Jun 20248.0%

Sep 2024-3.0%

Dec 20240.0%

Mar 2025-17%

Jun 2025-3.0%

Sep 2025-6.0%

Dec 2025-11%

Mar 2026—

Jun 2026—

Mahindra Lifespace Developers Ltd · MAHLIFE

Dec 2021-159%

Mar 2022-22%

Jun 2022-34%

Sep 2022-56%

Dec 2022-6.0%

Mar 2023-11%

Jun 2023-44%

Sep 2023-196%

Dec 2023-48%

Mar 2024-379%

Apr 2024—

Jun 2024-22%

Sep 2024-627%

Dec 2024-15%

Mar 2025-597%

Jun 2025-172%

Sep 2025-299%

Dec 20256.0%

Mar 2026-7.0%

Jun 202610%

Man Infraconstruction Ltd · MANINFRA

Dec 202115%

Mar 202221%

Jun 202219%

Sep 202223%

Dec 202228%

Mar 202318%

Jun 202321%

Sep 202330%

Dec 202342%

Mar 202417%

Apr 2024—

Jun 202424%

Sep 202412%

Dec 202425%

Mar 202536%

Jun 202522%

Sep 202525%

Dec 202521%

Mar 202613%

Jun 2026—

Modis Navnirman Ltd · MODIS⚠ unverified

Dec 2021—

Mar 202293%

Jun 2022—

Sep 202224%

Dec 2022—

Mar 202311%

Jun 2023—

Sep 202314%

Dec 2023—

Mar 202415%

Apr 2024—

Jun 2024—

Sep 202414%

Dec 202424%

Mar 202516%

Jun 2025—

Sep 202515%

Dec 202527%

Mar 20269.3%

Jun 2026—

NCC Ltd · NCC

Dec 20219.2%

Mar 20227.7%

Jun 20229.3%

Sep 20229.2%

Dec 202210%

Mar 20239.0%

Jun 20239.0%

Sep 20236.0%

Dec 202310%

Mar 20248.0%

Apr 2024—

Jun 20249.0%

Sep 20249.0%

Dec 20248.0%

Mar 20259.0%

Jun 20259.0%

Sep 20259.0%

Dec 20259.0%

Mar 20269.0%

Jun 2026—

PSP Projects Ltd · PSPPROJECT

Dec 202116%

Mar 202216%

Jun 202214%

Sep 202211%

Dec 202212%

Mar 202311%

Jun 202313%

Sep 202312%

Dec 202310%

Mar 20248.0%

Apr 2024—

Jun 202412%

Sep 20246.0%

Dec 20246.0%

Mar 20254.8%

Jun 20254.8%

Sep 20257.0%

Dec 20257.0%

Mar 20265.0%

Jun 20266.0%

RDB Infrastructure and Power Ltd · 533285

Dec 20216.6%

Mar 20229.7%

Jun 202222%

Sep 202218%

Dec 202217%

Mar 202312%

Jun 202373%

Sep 202327%

Dec 202347%

Mar 202428%

Apr 2024—

Jun 20244.0%

Sep 20248.9%

Dec 20245.5%

Mar 20254.5%

Jun 20253.7%

Sep 20254.1%

Dec 2025-2.0%

Mar 20263.1%

Jun 2026—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

Dec 2021-3.5%

Mar 20228.4%

Jun 20227.9%

Sep 20225.1%

Dec 20228.3%

Mar 202315%

Jun 20237.1%

Sep 20234.6%

Dec 20239.8%

Mar 20248.6%

Apr 2024—

Jun 20248.0%

Sep 20247.2%

Dec 20246.7%

Mar 20259.7%

Jun 20255.8%

Sep 20256.9%

Dec 20255.2%

Mar 20264.2%

Jun 2026—

Margin change · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

Dec 2021−4.2 pp

Mar 2022+0.8 pp

Jun 2022−5.2 pp

Sep 2022−8.6 pp

Dec 2022−2.7 pp

Mar 2023−5.5 pp

Jun 2023−1.8 pp

Sep 2023+1.5 pp

Dec 2023−3.0 pp

Mar 2024−2.0 pp

Apr 2024—

Jun 20240.0 pp

Sep 2024+11.0 pp

Dec 2024+5.0 pp

Mar 2025+8.0 pp

Jun 2025+8.0 pp

Sep 2025−4.0 pp

Dec 2025−3.0 pp

Mar 2026−16.0 pp

Jun 2026—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

Dec 2021−15.5 pp

Mar 2022−120.1 pp

Jun 2022−19.8 pp

Sep 2022−5.1 pp

Dec 2022−29.9 pp

Mar 2023+160.5 pp

Jun 2023+12.3 pp

Sep 2023+11.7 pp

Dec 2023−1,321.0 pp

Mar 2024−156.9 pp

Apr 2024—

Jun 2024+6.5 pp

Sep 2024−22.3 pp

Dec 2024+1,317.6 pp

Mar 2025+142.9 pp

Jun 2025−27.5 pp

Sep 2025+18.1 pp

Dec 2025+55.9 pp

Mar 2026+8.8 pp

Jun 2026+34.0 pp

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Apr 2024—

Jun 2024—

Sep 2024−4.1 pp

Dec 2024−4.3 pp

Mar 2025−1.9 pp

Jun 2025−4.0 pp

Sep 2025+1.0 pp

Dec 2025+4.0 pp

Mar 2026+2.0 pp

Jun 2026—

Jaiprakash Associates Ltd · JPASSOCIAT

Dec 2021−2.4 pp

Mar 2022−43.8 pp

Jun 2022−0.0 pp

Sep 2022+3.0 pp

Dec 2022+4.3 pp

Mar 2023+29.3 pp

Jun 2023+0.6 pp

Sep 2023+3.1 pp

Dec 2023−5.0 pp

Mar 2024−9.0 pp

Apr 2024—

Jun 2024+3.0 pp

Sep 2024−8.0 pp

Dec 2024−2.0 pp

Mar 2025−21.0 pp

Jun 2025−11.0 pp

Sep 2025−3.0 pp

Dec 2025−11.0 pp

Mar 2026—

Jun 2026—

Mahindra Lifespace Developers Ltd · MAHLIFE

Dec 2021−131.1 pp

Mar 2022+44.2 pp

Jun 2022−17.5 pp

Sep 2022−71.9 pp

Dec 2022+153.4 pp

Mar 2023+11.1 pp

Jun 2023−10.2 pp

Sep 2023−139.6 pp

Dec 2023−42.0 pp

Mar 2024−368.0 pp

Apr 2024—

Jun 2024+22.0 pp

Sep 2024−431.0 pp

Dec 2024+33.0 pp

Mar 2025−218.0 pp

Jun 2025−150.0 pp

Sep 2025+328.0 pp

Dec 2025+21.0 pp

Mar 2026+590.0 pp

Jun 2026+182.0 pp

Man Infraconstruction Ltd · MANINFRA

Dec 2021−4.4 pp

Mar 2022+2.0 pp

Jun 2022−26.2 pp

Sep 2022−7.5 pp

Dec 2022+13.0 pp

Mar 2023−3.0 pp

Jun 2023+2.0 pp

Sep 2023+6.6 pp

Dec 2023+14.0 pp

Mar 2024−1.0 pp

Apr 2024—

Jun 2024+3.0 pp

Sep 2024−18.0 pp

Dec 2024−17.0 pp

Mar 2025+19.0 pp

Jun 2025−2.0 pp

Sep 2025+13.0 pp

Dec 2025−4.0 pp

Mar 2026−23.0 pp

Jun 2026—

Modis Navnirman Ltd · MODIS⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+66.1 pp

Dec 2022—

Mar 2023−81.9 pp

Jun 2023—

Sep 2023−10.3 pp

Dec 2023—

Mar 2024+3.4 pp

Apr 2024—

Jun 2024—

Sep 2024+0.6 pp

Dec 2024—

Mar 2025+1.2 pp

Jun 2025—

Sep 2025+0.8 pp

Dec 2025+3.0 pp

Mar 2026−6.4 pp

Jun 2026—

NCC Ltd · NCC

Dec 2021−2.9 pp

Mar 2022−3.1 pp

Jun 2022−1.0 pp

Sep 2022−1.1 pp

Dec 2022+0.8 pp

Mar 2023+1.3 pp

Jun 2023−0.3 pp

Sep 2023−3.2 pp

Dec 20230.0 pp

Mar 2024−1.0 pp

Apr 2024—

Jun 20240.0 pp

Sep 2024+3.0 pp

Dec 2024−2.0 pp

Mar 2025+1.0 pp

Jun 20250.0 pp

Sep 20250.0 pp

Dec 2025+1.0 pp

Mar 20260.0 pp

Jun 2026—

PSP Projects Ltd · PSPPROJECT

Dec 2021+4.2 pp

Mar 2022+3.3 pp

Jun 2022+1.3 pp

Sep 2022−3.0 pp

Dec 2022−3.7 pp

Mar 2023−4.9 pp

Jun 2023−0.8 pp

Sep 2023+1.0 pp

Dec 2023−2.0 pp

Mar 2024−3.0 pp

Apr 2024—

Jun 2024−1.0 pp

Sep 2024−6.0 pp

Dec 2024−4.0 pp

Mar 2025−3.2 pp

Jun 2025−7.2 pp

Sep 2025+1.0 pp

Dec 2025+1.0 pp

Mar 2026+0.2 pp

Jun 2026+1.2 pp

RDB Infrastructure and Power Ltd · 533285

Dec 2021−5.7 pp

Mar 2022+0.9 pp

Jun 2022+5.6 pp

Sep 2022−8.9 pp

Dec 2022+10.6 pp

Mar 2023+2.6 pp

Jun 2023+50.4 pp

Sep 2023+8.2 pp

Dec 2023+30.0 pp

Mar 2024+15.8 pp

Apr 2024—

Jun 2024−69.0 pp

Sep 2024−17.6 pp

Dec 2024−41.6 pp

Mar 2025−23.5 pp

Jun 2025−0.3 pp

Sep 2025−4.9 pp

Dec 2025−7.5 pp

Mar 2026−1.4 pp

Jun 2026—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

Dec 2021−11.5 pp

Mar 2022+3.8 pp

Jun 2022+9.1 pp

Sep 2022+1.8 pp

Dec 2022+11.8 pp

Mar 2023+6.8 pp

Jun 2023−0.7 pp

Sep 2023−0.5 pp

Dec 2023+1.5 pp

Mar 2024−6.6 pp

Apr 2024—

Jun 2024+0.9 pp

Sep 2024+2.6 pp

Dec 2024−3.1 pp

Mar 2025+1.1 pp

Jun 2025−2.3 pp

Sep 2025−0.3 pp

Dec 2025−1.5 pp

Mar 2026−5.5 pp

Jun 2026—

08 · 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 · 174 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 · 9/12 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
NCC Ltd NCC	₹217 Cr	-18%	Mar 2026
Ashoka Buildcon Ltd ASHOKA	₹147 Cr	-67%	Mar 2026
Mahindra Lifespace Developers Ltd MAHLIFE	₹86 Cr	69%	Jun 2026
Man Infraconstruction Ltd MANINFRA	₹41 Cr	-58%	Mar 2026
Garuda Construction and Engineering Ltd GARUDA⚠ unverified	₹34 Cr	89%	Mar 2026
PSP Projects Ltd PSPPROJECT	₹18 Cr	250%	Jun 2026
Vascon Engineers Ltd VASCONEQ⚠ unverified	₹6 Cr	-84%	Mar 2026
Modis Navnirman Ltd MODIS⚠ unverified	₹4 Cr	192%	Mar 2026
RDB Infrastructure and Power Ltd 533285	₹4 Cr	273%	Mar 2026
BEML Land Assets Ltd BLAL⚠ unverified	₹-0 Cr	—	Jun 2026
Consolidated Construction Consortium Ltd CCCL⚠ unverified	₹-5 Cr	-107%	Jun 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

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹138 Cr

Mar 2023₹-45 Cr

Jun 2023₹72 Cr

Sep 2023₹119 Cr

Dec 2023₹99 Cr

Mar 2024₹254 Cr

Apr 2024—

Jun 2024₹158 Cr

Sep 2024₹462 Cr

Dec 2024₹662 Cr

Mar 2025₹452 Cr

Jun 2025₹227 Cr

Sep 2025₹91 Cr

Dec 2025₹2.1K Cr

Mar 2026₹147 Cr

Jun 2026—

BEML Land Assets Ltd · BLAL⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹-0 Cr

Mar 2023₹-0 Cr

Jun 2023₹-2 Cr

Sep 2023₹-1 Cr

Dec 2023₹-1 Cr

Mar 2024₹-1 Cr

Apr 2024—

Jun 2024₹-2 Cr

Sep 2024₹-1 Cr

Dec 2024₹-0 Cr

Mar 2025₹-0 Cr

Jun 2025₹-3 Cr

Sep 2025₹-1 Cr

Dec 2025₹-0 Cr

Mar 2026₹4 Cr

Jun 2026₹-0 Cr

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹-35 Cr

Mar 2023₹-21 Cr

Jun 2023₹-25 Cr

Sep 2023₹-20 Cr

Dec 2023₹-618 Cr

Mar 2024₹1.3K Cr

Apr 2024—

Jun 2024₹-3 Cr

Sep 2024₹46 Cr

Dec 2024₹-12 Cr

Mar 2025₹56 Cr

Jun 2025₹78 Cr

Sep 2025₹-0 Cr

Dec 2025₹4 Cr

Mar 2026₹-2 Cr

Jun 2026₹-5 Cr

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Apr 2024—

Jun 2024₹9 Cr

Sep 2024₹10 Cr

Dec 2024₹13 Cr

Mar 2025₹18 Cr

Jun 2025₹28 Cr

Sep 2025₹27 Cr

Dec 2025₹33 Cr

Mar 2026₹34 Cr

Jun 2026—

Jaiprakash Associates Ltd · JPASSOCIAT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹-315 Cr

Mar 2023₹-316 Cr

Jun 2023₹-183 Cr

Sep 2023₹-248 Cr

Dec 2023₹-476 Cr

Mar 2024₹-431 Cr

Apr 2024—

Jun 2024₹-1.0K Cr

Sep 2024₹-298 Cr

Dec 2024₹-768 Cr

Mar 2025₹-731 Cr

Jun 2025₹232 Cr

Sep 2025₹-75 Cr

Dec 2025₹-693 Cr

Mar 2026—

Jun 2026—

Mahindra Lifespace Developers Ltd · MAHLIFE

Dec 2021₹25 Cr

Mar 2022₹137 Cr

Jun 2022₹75 Cr

Sep 2022₹-8 Cr

Dec 2022₹34 Cr

Mar 2023₹1 Cr

Jun 2023₹-4 Cr

Sep 2023₹-19 Cr

Dec 2023₹50 Cr

Mar 2024₹71 Cr

Apr 2024—

Jun 2024₹13 Cr

Sep 2024₹-14 Cr

Dec 2024₹-22 Cr

Mar 2025₹85 Cr

Jun 2025₹51 Cr

Sep 2025₹48 Cr

Dec 2025₹109 Cr

Mar 2026₹90 Cr

Jun 2026₹86 Cr

Man Infraconstruction Ltd · MANINFRA

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹91 Cr

Mar 2023₹92 Cr

Jun 2023₹87 Cr

Sep 2023₹65 Cr

Dec 2023₹87 Cr

Mar 2024₹65 Cr

Apr 2024—

Jun 2024₹84 Cr

Sep 2024₹47 Cr

Dec 2024₹84 Cr

Mar 2025₹97 Cr

Jun 2025₹58 Cr

Sep 2025₹60 Cr

Dec 2025₹52 Cr

Mar 2026₹41 Cr

Jun 2026—

Modis Navnirman Ltd · MODIS⚠ unverified

Dec 2021—

Mar 2022₹2 Cr

Jun 2022—

Sep 2022₹3 Cr

Dec 2022—

Mar 2023₹3 Cr

Jun 2023—

Sep 2023₹3 Cr

Dec 2023—

Mar 2024₹4 Cr

Apr 2024—

Jun 2024—

Sep 2024₹5 Cr

Dec 2024₹7 Cr

Mar 2025₹2 Cr

Jun 2025—

Sep 2025₹5 Cr

Dec 2025₹13 Cr

Mar 2026₹4 Cr

Jun 2026—

NCC Ltd · NCC

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹168 Cr

Mar 2023₹203 Cr

Jun 2023₹184 Cr

Sep 2023₹86 Cr

Dec 2023₹231 Cr

Mar 2024₹239 Cr

Apr 2024—

Jun 2024₹223 Cr

Sep 2024₹175 Cr

Dec 2024₹206 Cr

Mar 2025₹265 Cr

Jun 2025₹205 Cr

Sep 2025₹167 Cr

Dec 2025₹135 Cr

Mar 2026₹217 Cr

Jun 2026—

PSP Projects Ltd · PSPPROJECT

Dec 2021₹50 Cr

Mar 2022₹55 Cr

Jun 2022₹29 Cr

Sep 2022₹22 Cr

Dec 2022₹35 Cr

Mar 2023₹46 Cr

Jun 2023₹38 Cr

Sep 2023₹39 Cr

Dec 2023₹31 Cr

Mar 2024₹16 Cr

Apr 2024—

Jun 2024₹35 Cr

Sep 2024₹10 Cr

Dec 2024₹5 Cr

Mar 2025₹6 Cr

Jun 2025₹0 Cr

Sep 2025₹16 Cr

Dec 2025₹18 Cr

Mar 2026₹21 Cr

Jun 2026₹18 Cr

RDB Infrastructure and Power Ltd · 533285

Dec 2021₹2 Cr

Mar 2022₹0 Cr

Jun 2022₹1 Cr

Sep 2022₹4 Cr

Dec 2022₹4 Cr

Mar 2023₹8 Cr

Jun 2023₹3 Cr

Sep 2023₹3 Cr

Dec 2023₹2 Cr

Mar 2024₹12 Cr

Apr 2024—

Jun 2024₹1 Cr

Sep 2024₹2 Cr

Dec 2024₹2 Cr

Mar 2025₹1 Cr

Jun 2025₹3 Cr

Sep 2025₹3 Cr

Dec 2025₹2 Cr

Mar 2026₹4 Cr

Jun 2026—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹16 Cr

Mar 2023₹50 Cr

Jun 2023₹12 Cr

Sep 2023₹21 Cr

Dec 2023₹19 Cr

Mar 2024₹17 Cr

Apr 2024—

Jun 2024₹10 Cr

Sep 2024₹10 Cr

Dec 2024₹76 Cr

Mar 2025₹35 Cr

Jun 2025₹22 Cr

Sep 2025₹11 Cr

Dec 2025₹9 Cr

Mar 2026₹6 Cr

Jun 2026—

Profit growth · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-28%

Mar 2024—

Apr 2024—

Jun 2024119%

Sep 2024288%

Dec 2024569%

Mar 202578%

Jun 202544%

Sep 2025-80%

Dec 2025219%

Mar 2026-67%

Jun 2026—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Apr 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025-96%

Jun 2025—

Sep 2025-101%

Dec 2025—

Mar 2026-104%

Jun 2026-107%

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Apr 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025211%

Sep 2025170%

Dec 2025154%

Mar 202689%

Jun 2026—

Mahindra Lifespace Developers Ltd · MAHLIFE

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-214%

Dec 202236%

Mar 2023-99%

Jun 2023-105%

Sep 2023—

Dec 202347%

Mar 20247,000%

Apr 2024—

Jun 2024—

Sep 2024—

Dec 2024-144%

Mar 202520%

Jun 2025292%

Sep 2025—

Dec 2025—

Mar 20265.9%

Jun 202669%

Man Infraconstruction Ltd · MANINFRA

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-4.4%

Mar 2024-29%

Apr 2024—

Jun 2024-3.5%

Sep 2024-28%

Dec 2024-3.5%

Mar 202549%

Jun 2025-31%

Sep 202528%

Dec 2025-38%

Mar 2026-58%

Jun 2026—

Modis Navnirman Ltd · MODIS⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 202321%

Jun 2023—

Sep 2023-2.1%

Dec 2023—

Mar 202434%

Apr 2024—

Jun 2024—

Sep 202460%

Dec 2024—

Mar 2025-61%

Jun 2025—

Sep 202510%

Dec 202582%

Mar 2026192%

Jun 2026—

NCC Ltd · NCC

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202338%

Mar 202418%

Apr 2024—

Jun 202421%

Sep 2024103%

Dec 2024-11%

Mar 202511%

Jun 2025-8.1%

Sep 2025-4.6%

Dec 2025-34%

Mar 2026-18%

Jun 2026—

PSP Projects Ltd · PSPPROJECT

Dec 2021—

Mar 2022—

Jun 202216%

Sep 2022-39%

Dec 2022-30%

Mar 2023-16%

Jun 202331%

Sep 202377%

Dec 2023-11%

Mar 2024-65%

Apr 2024—

Jun 2024-7.9%

Sep 2024-74%

Dec 2024-84%

Mar 2025-63%

Jun 2025-100%

Sep 202560%

Dec 2025260%

Mar 2026250%

Jun 2026—

RDB Infrastructure and Power Ltd · 533285

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022114%

Dec 202289%

Mar 20235,877%

Jun 2023113%

Sep 2023-13%

Dec 2023-42%

Mar 202454%

Apr 2024—

Jun 2024-70%

Sep 2024-46%

Dec 2024-26%

Mar 2025-90%

Jun 2025186%

Sep 202579%

Dec 202536%

Mar 2026273%

Jun 2026—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202314%

Mar 2024-66%

Apr 2024—

Jun 2024-19%

Sep 2024-50%

Dec 2024307%

Mar 2025107%

Jun 2025134%

Sep 202511%

Dec 2025-88%

Mar 2026-84%

Jun 2026—

09 · 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

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

Company	ROCE	ROCE change	Reported
Garuda Construction and Engineering Ltd GARUDA⚠ unverified	36%	+15.9 pp	Mar 2026
Modis Navnirman Ltd MODIS⚠ unverified	26%	+5.6 pp	Mar 2026
PSP Projects Ltd PSPPROJECT	7.9%	−1.1 pp	Jun 2026
Vascon Engineers Ltd VASCONEQ⚠ unverified	3.6%	−3.3 pp	Mar 2026
Mahindra Lifespace Developers Ltd MAHLIFE	-4.0%	+2.8 pp	Jun 2026
Consolidated Construction Consortium Ltd CCCL⚠ unverified	-7.6%	+1.2 pp	Jun 2026
BEML Land Assets Ltd BLAL⚠ unverified	-16%	+14.2 pp	Jun 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

BEML Land Assets Ltd · BLAL⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022-2.8%

Mar 2023-4.6%

Jun 2023—

Sep 2023-29%

Dec 2023-40%

Mar 2024-35%

Apr 2024—

Jun 2024-33%

Sep 2024-36%

Dec 2024-30%

Mar 2025-31%

Jun 2025-35%

Sep 2025-32%

Dec 2025-32%

Mar 2026-16%

Jun 2026—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

Dec 2021—

Mar 202215%

Jun 2022—

Sep 202215%

Dec 2022—

Mar 20236.6%

Jun 2023—

Sep 20234.1%

Dec 2023—

Mar 2024-664%

Apr 2024—

Jun 2024747%

Sep 2024-446%

Dec 2024984%

Mar 2025-8.8%

Jun 2025124%

Sep 2025-12%

Dec 202569%

Mar 2026-7.6%

Jun 2026—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Apr 20243.8%

Jun 2024—

Sep 202421%

Dec 2024—

Mar 202520%

Jun 202540%

Sep 202529%

Dec 202555%

Mar 202636%

Jun 2026—

Mahindra Lifespace Developers Ltd · MAHLIFE

Dec 2021—

Mar 2022-4.1%

Jun 2022—

Sep 2022-7.2%

Dec 2022—

Mar 2023-6.1%

Jun 2023—

Sep 2023-6.7%

Dec 20230.3%

Mar 2024-7.3%

Apr 2024—

Jun 20243.7%

Sep 2024-8.0%

Dec 20243.0%

Mar 2025-6.8%

Jun 20254.7%

Sep 2025-6.3%

Dec 202511%

Mar 2026-4.0%

Jun 2026—

Modis Navnirman Ltd · MODIS⚠ unverified

Dec 2021-2.6%

Mar 20224.8%

Jun 202214%

Sep 202225%

Dec 202222%

Mar 202323%

Jun 202319%

Sep 202318%

Dec 20239.6%

Mar 20249.9%

Apr 2024—

Jun 20249.7%

Sep 202411%

Dec 2024—

Mar 202520%

Jun 2025—

Sep 2025—

Dec 2025—

Mar 202626%

Jun 2026—

PSP Projects Ltd · PSPPROJECT

Dec 2021—

Mar 202232%

Jun 2022—

Sep 202229%

Dec 2022—

Mar 202323%

Jun 2023—

Sep 202326%

Dec 202325%

Mar 202421%

Apr 2024—

Jun 202425%

Sep 202413%

Dec 202413%

Mar 20259.0%

Jun 20256.9%

Sep 20255.7%

Dec 20258.0%

Mar 20267.9%

Jun 2026—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

Dec 2021—

Mar 20222.9%

Jun 2022—

Sep 20225.1%

Dec 2022—

Mar 202311%

Jun 2023—

Sep 202310%

Dec 202312%

Mar 20248.6%

Apr 2024—

Jun 20248.7%

Sep 20244.5%

Dec 202415%

Mar 20256.9%

Jun 202516%

Sep 20256.5%

Dec 20259.1%

Mar 20263.6%

Jun 2026—

ROCE change · reported quarter history

BEML Land Assets Ltd · BLAL⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023−37.3 pp

Mar 2024−29.9 pp

Apr 2024—

Jun 2024−3.8 pp

Sep 2024+3.7 pp

Dec 2024+4.7 pp

Mar 2025—

Jun 2025−2.2 pp

Sep 2025+4.5 pp

Dec 2025−1.7 pp

Mar 2026+14.2 pp

Jun 2026—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023−8.7 pp

Jun 2023—

Sep 2023−10.5 pp

Dec 2023—

Mar 2024−670.6 pp

Apr 2024—

Jun 2024+742.8 pp

Sep 2024—

Dec 2024+1,648.0 pp

Mar 2025—

Jun 2025−623.3 pp

Sep 2025+434.0 pp

Dec 2025−915.2 pp

Mar 2026+1.2 pp

Jun 2026—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Apr 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025+16.3 pp

Jun 2025—

Sep 2025+7.6 pp

Dec 2025—

Mar 2026+15.9 pp

Jun 2026—

Mahindra Lifespace Developers Ltd · MAHLIFE

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023−2.0 pp

Jun 2023—

Sep 2023+0.5 pp

Dec 2023—

Mar 2024−1.2 pp

Apr 2024—

Jun 2024+10.4 pp

Sep 2024−8.3 pp

Dec 2024+10.3 pp

Mar 2025—

Jun 2025+1.0 pp

Sep 2025+1.7 pp

Dec 2025+7.7 pp

Mar 2026+2.8 pp

Jun 2026—

Modis Navnirman Ltd · MODIS⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+24.2 pp

Mar 2023+18.3 pp

Jun 2023+4.8 pp

Sep 2023−6.7 pp

Dec 2023−12.0 pp

Mar 2024−13.2 pp

Apr 2024—

Jun 2024−8.6 pp

Sep 2024+1.2 pp

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026+5.6 pp

Jun 2026—

PSP Projects Ltd · PSPPROJECT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023−9.6 pp

Jun 2023—

Sep 2023−2.9 pp

Dec 2023—

Mar 2024−2.1 pp

Apr 2024—

Jun 2024−1.5 pp

Sep 2024−11.9 pp

Dec 2024−7.1 pp

Mar 2025—

Jun 2025−17.7 pp

Sep 2025−7.4 pp

Dec 2025−5.4 pp

Mar 2026−1.1 pp

Jun 2026—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023+7.9 pp

Jun 2023—

Sep 2023+5.1 pp

Dec 2023—

Mar 2024−2.2 pp

Apr 2024—

Jun 2024−1.5 pp

Sep 2024−7.4 pp

Dec 2024+5.9 pp

Mar 2025—

Jun 2025+7.7 pp

Sep 2025+2.0 pp

Dec 2025−5.4 pp

Mar 2026−3.3 pp

Jun 2026—

10 · compare level, then change

Valuation Against Growth & Quality

PSP Projects Ltd has the lowest 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 Jun 2026.

What the numbers say: PSP Projects Ltd has the lowest comparable PEG at 0.65×, 90% below Mahindra Lifespace Developers Ltd. Only 2 of 12 companies have earnings and growth steady enough for the ratio to mean anything, 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 feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

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 NCC12.7

4Garuda Construction and Engineering Ltd GARUDA⚠ unverified13.1

5Man Infraconstruction Ltd MANINFRA21.4

Valuation · company comparison

2/12 level · 11/12 change

All-company data · latest reported quarter

Company	PEG	P/E	Reported
Mahindra Lifespace Developers Ltd MAHLIFE	6.5	27.9	Jun 2026
PSP Projects Ltd PSPPROJECT	0.7	69.7	Jun 2026
RDB Infrastructure and Power Ltd 533285	—	30.3	Mar 2026
NCC Ltd NCC	—	11.5	Mar 2026
Man Infraconstruction Ltd MANINFRA	—	14.4	Mar 2026
Ashoka Buildcon Ltd ASHOKA	—	2.9	Mar 2026
Garuda Construction and Engineering Ltd GARUDA⚠ unverified	—	12.6	Mar 2026
Modis Navnirman Ltd MODIS⚠ unverified	—	25.6	Mar 2026
Vascon Engineers Ltd VASCONEQ⚠ unverified	—	8.8	Mar 2026
BEML Land Assets Ltd BLAL⚠ unverified	—	-200.0	Jun 2026
Consolidated Construction Consortium Ltd CCCL⚠ unverified	—	5.7	Jun 2026

Full 20-quarter history · every available company

PEG · reported quarter history

Mahindra Lifespace Developers Ltd · MAHLIFE

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20222.0

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Apr 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20256.5

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

PSP Projects Ltd · PSPPROJECT

Dec 2021—

Mar 2022—

Jun 20220.7

Sep 20220.2

Dec 20220.9

Mar 2023—

Jun 20230.7

Sep 2023—

Dec 2023—

Mar 2024—

Apr 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

P/E · reported quarter history

Ashoka Buildcon Ltd · ASHOKA

Dec 20217.2

Mar 20226.3

Jun 20224.2

Sep 20224.1

Dec 20224.8

Mar 20233.7

Jun 20238.3

Sep 202316.9

Dec 202315.5

Mar 202420.7

Apr 2024—

Jun 202413.7

Sep 202411.9

Dec 20249.3

Mar 20253.7

Jun 20253.5

Sep 20253.0

Dec 20253.2

Mar 20262.9

Jun 2026—

BEML Land Assets Ltd · BLAL⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Apr 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026-200.0

Jun 2026—

Consolidated Construction Consortium Ltd · CCCL⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20240.1

Apr 2024—

Jun 2024—

Sep 20241.4

Dec 2024—

Mar 20257.3

Jun 20255.2

Sep 2025—

Dec 20255.7

Mar 2026—

Jun 2026—

Garuda Construction and Engineering Ltd · GARUDA⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Apr 2024—

Jun 2024—

Sep 2024—

Dec 202435.2

Mar 202519.3

Jun 202523.4

Sep 202524.3

Dec 202521.3

Mar 202612.6

Jun 2026—

Mahindra Lifespace Developers Ltd · MAHLIFE

Dec 2021-391.8

Mar 202239.7

Jun 2022122.8

Sep 202275.3

Dec 202265.7

Mar 202381.5

Jun 2023233.8

Sep 2023303.6

Dec 2023309.0

Mar 2024421.3

Apr 2024—

Jun 2024118.9

Sep 202492.2

Dec 202476.9

Mar 2025122.7

Jun 2025122.9

Sep 202576.9

Dec 202551.7

Mar 202624.4

Jun 202627.9

Man Infraconstruction Ltd · MANINFRA

Dec 202121.9

Mar 202219.9

Jun 202213.1

Sep 202214.9

Dec 202216.8

Mar 202311.8

Jun 202316.4

Sep 202318.7

Dec 202325.3

Mar 202424.0

Apr 2024—

Jun 202424.2

Sep 202424.9

Dec 202435.1

Mar 202520.5

Jun 202524.4

Sep 202521.5

Dec 202518.2

Mar 202614.4

Jun 2026—

Modis Navnirman Ltd · MODIS⚠ unverified

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022107.2

Dec 202235.2

Mar 202340.7

Jun 202354.2

Sep 202350.3

Dec 202348.5

Mar 202473.4

Apr 2024—

Jun 202469.7

Sep 2024203.7

Dec 2024188.7

Mar 2025207.2

Jun 2025—

Sep 202528.4

Dec 202528.8

Mar 202625.6

Jun 2026—

NCC Ltd · NCC

Dec 202112.7

Mar 202210.7

Jun 202210.4

Sep 202211.1

Dec 202211.9

Mar 202312.8

Jun 202312.4

Sep 202314.7

Dec 202317.2

Mar 202421.7

Apr 2024—

Jun 202427.2

Sep 202424.7

Dec 202420.5

Mar 202515.9

Jun 202517.6

Sep 202515.8

Dec 202512.5

Mar 202611.5

Jun 2026—

PSP Projects Ltd · PSPPROJECT

Dec 202113.2

Mar 202212.5

Jun 202211.5

Sep 202213.5

Dec 202216.2

Mar 202317.1

Jun 202319.5

Sep 202320.4

Dec 202317.5

Mar 202416.1

Apr 2024—

Jun 202420.1

Sep 202420.1

Dec 202427.7

Mar 202537.4

Jun 202553.1

Sep 2025126.3

Dec 2025121.9

Mar 202659.1

Jun 202669.7

RDB Infrastructure and Power Ltd · 533285

Dec 202110.9

Mar 202212.5

Jun 20229.2

Sep 202211.2

Dec 20229.7

Mar 20237.1

Jun 20235.9

Sep 20235.0

Dec 20238.1

Mar 202412.3

Apr 2024—

Jun 202413.2

Sep 202433.1

Dec 202447.0

Mar 202552.2

Jun 202544.7

Sep 202541.3

Dec 202553.6

Mar 202630.3

Jun 2026—

Vascon Engineers Ltd · VASCONEQ⚠ unverified

Dec 2021117.7

Mar 202219.4

Jun 202212.4

Sep 202211.2

Dec 202210.0

Mar 20238.9

Jun 20239.6

Sep 202312.7

Dec 202315.7

Mar 202413.7

Apr 2024—

Jun 202425.5

Sep 202423.6

Dec 202424.3

Mar 202518.0

Jun 202518.5

Sep 202516.7

Dec 202512.7

Mar 20268.8

Jun 2026—

11 · 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: Valuation have fewer than three usable current readings.

12 · 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 2026-07-31. 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 2026-07-31 · weekly price and relative-strength history

Derived metricsGrowth, changes and PEG 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.

How a second data feed is admitted, and what happens when it disagrees

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.

13 · questions investors ask, short speakable answers

Construction & Contracting company comparison FAQs

These 24 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 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

Is the Construction & Contracting sector outperforming 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 75.5/100 with 75.8% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Construction & Contracting company has the lowest comparable PEG?

PSP Projects Ltd has the lowest comparable PEG at 0.65, among 2 of 12 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Construction & Contracting comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns 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.

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 has the best profit margins?

BEML Land Assets Ltd has the highest operating margin at 67.3%, 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 PEG — where a LOWER number is cheaper — PSP Projects Ltd screens cheapest at 0.65×. Only 2 of 12 companies have earnings and growth steady enough for the ratio to mean anything, 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.

Is the Construction & Contracting sector beating the market?

Construction & Contracting has underperformed NIFTY 500 by 16.6% over the last 52 weeks and 7.2% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 3 of 12 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

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 75.5 out of 100 with 75.8% evidence confidence, from 29.7 points on growth and earnings, 22.6 on capital efficiency, 10.6 on valuation and 12.6 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, 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 ₹34,078 crore of combined market value. NCC Ltd is the largest at ₹8,858 crore, about 26% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

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 26.4×, 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 2026-08-05.

How is the Construction & Contracting sector performing?

3 of the 12 covered Construction & Contracting companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 16.6% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

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.