B.R.Goyal InfrastructureShare price, financial results, shareholding and management
- Market cap
- ₹461 cr
- Stock P/E
- 10.3peers 12.2
- Book value
- ₹115
- Price to book
- 1.68
- EV / operating profit
- -
- Market cap to sales
- 0.56
- ROCE · FY26
- 22.7%
- ROE · FY26
- 17.9%
- ROE, 3-year average
- 17.0%
- Operating margin · FY26
- 9.0%peers 11.0%
- Sales growth, 3 years
- 33.3%
- Profit growth, 3 years
- 38.2%
- Debt to equity
- 0.28peers 0.55
- Borrowings
- ₹76 cr
- Interest cover
- 6.7×
- Cash from business / op. profit
- 3%
- Debtor days
- 23
- Pledged
- 0.00%
- Promoter holding
- 73.60%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 1,031
- 52-week high / low
- ₹206 / ₹89
- Dividend yield
- Paid
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
B.R.Goyal Infrastructure share price chart
Close on 6 Nov 2026 · -1.02% on the day · Vol 35,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +1.4%
- 3 months
- +8.3%
- 6 months
- +76.1%
- 1 year
- +51.4%
- Traded a day, 20 days
- ₹0.50 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +61% | +78% |
| 3 years, a year | +33% | +38% |
| Latest half, H2 FY26 | +36% | +62% |
About B.R.Goyal Infrastructure: business, products and customers
B.R.Goyal Infrastructure builds roads, bridges and government buildings, and runs toll plazas on national highways for the highways authority. It is based in Indore and its shares trade on BSE SME.
The company is a construction contractor that wins government tenders and builds to order: highways and roads for NHAI, NHIDCL and state public works departments, public buildings such as a hockey and athletics stadium in Ujjain, and since FY26 underground sewerage and wastewater work in Tamil Nadu. It was working on 37 projects across nine states at the time of the June 2026 call, with a fleet of over 230 machines and vehicles of its own. It also runs a ready mix concrete plant in Indore and holds unsold residential plots there.
The second business is toll collection: it bids for contracts to run NHAI toll plazas for a fixed period and operated seven of them at March 2026. Toll contracts gave nearly half of FY26 revenue but, the company says, earn an EBITDA margin of about 4% against about 14% on construction, so the mix between the two decides the blended margin and lets sales grow faster than profit. Construction is billed as work progresses and certified, and the company says it bids only where funds come from the central government or are allocated to the project, which it credits for a working capital cycle of thirty to forty five days.
Read more about the business
Wastewater is described by the company as a higher margin area, but it has no credentials of its own yet, so its first order is being done through partners until it can bid directly. The offer document named two listed companies, Teerth Gopicon and Udayshivkumar Infra, as its industry peers.
From the offer document (prospectus, 2024), the CareEdge rating note of 28 February 2025, the earnings calls of November 2025 and June 2026, the June 2026 investor presentation, the Annual Report 2025-26 and the press release of 24 September 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 33% a year over three years.
- It earns a high return on the money it uses: ROCE 23% in FY26.
- It has little debt for its size: debt to equity 0.28.
- The promoters own a large part of the company: 73.60%.
- It paid a dividend in the past year.
To watch
- Execution of the ₹1,720.7 cr order book held at 31 August 2026 (Press release, 24 September 2026, p.2).
- Whether the EBITDA margin reaches the 10% to 11% the company targets for FY27 (Earnings call, June 2026, p.11).
- Progress on the Tamil Nadu wastewater order and any wastewater bid won directly (Earnings call, June 2026, p.12).
- Results of the bids for asset monetisation, hybrid annuity and BOT projects the company plans this year (Earnings call, June 2026, p.10).
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
B.R.Goyal Infrastructure revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
B.R.Goyal Infrastructure half-yearly results
SME companies report every six months · ₹ crore
| H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|
| Sales | 237 | 352 | 212.86 | 352.22 | 342.13 | 478.19 |
| Expenses | 229 | 327 | 201.09 | 327.10 | 314.67 | 431.19 |
| Operating profit | 7 | 25 | 11.77 | 25.12 | 27.46 | 47 |
| OPM | 3.1% | 7.0% | 5.5% | 7.1% | 8.0% | 10.0% |
| Interest | 3 | 2 | 3.37 | 2.15 | 3.04 | 5 |
| Depreciation | 2 | 4 | 2.58 | 4.12 | 3.77 | 5 |
| Profit before tax | 5 | 23 | 7.88 | 23.23 | 22.19 | 40.56 |
| Net profit | 4 | 18 | 6.08 | 17.77 | 16.23 | 28.72 |
B.R.Goyal Infrastructure profit and loss
Full years to March, FY16 to FY26 · ₹ crore, consolidated where reported
| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 135 | 136 | 142 | 173 | 253 | 258 | 225 | 346 | 589 | 509.80 | 820.32 |
| Expenses | 121 | 117 | 125 | 154 | 234 | 242 | 206 | 320 | 554 | 468.61 | 743.32 |
| Operating profit | 14 | 18 | 17 | 19 | 19 | 16 | 19 | 27 | 34 | 41.19 | 77 |
| OPM | 10.0% | 14.0% | 12.0% | 11.0% | 8.0% | 6.0% | 8.0% | 8.0% | 6.0% | 8.1% | 9.0% |
| Other income | 3 | 3 | 6 | 4 | 3 | 4 | 4 | 7 | 7 | 5.29 | 4.27 |
| Interest | 7 | 7 | 7 | 7 | 7 | 6 | 7 | 7 | 8 | 5.39 | 11 |
| Depreciation | 5 | 6 | 7 | 6 | 5 | 5 | 5 | 5 | 5 | 7.17 | 8 |
| Exceptional and other items | · | · | · | · | · | · | -1 | · | 1 | · | · |
| Profit before tax | 5 | 8 | 9 | 10 | 10 | 9 | 10 | 22 | 29 | 33.93 | 62.75 |
| Tax rate | 40.0% | 37.5% | 22.2% | 20.0% | 20.0% | 22.2% | 30.0% | 22.7% | 24.1% | 25.5% | 28.4% |
| Net profit | 3 | 5 | 7 | 8 | 8 | 7 | 7 | 17 | 22 | 25.27 | 44.92 |
| EPS ₹ | 2 | 2.88 | 3.94 | 4.47 | 4.47 | 3.78 | 4.28 | 9.95 | 12.57 | 13.41 | 18.81 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.0% |
The years to FY24 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
B.R.Goyal Infrastructure profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 10.0% | 14.0% | 12.0% | 11.0% | 8.0% | 6.0% | 8.0% | 8.0% | 6.0% | 8.1% | 9.0% |
| Tax rate | 40.0% | 37.5% | 22.2% | 20.0% | 20.0% | 22.2% | 30.0% | 22.7% | 24.1% | 25.5% | 28.4% |
| ROCE | · | 13.2% | 13.6% | 14.4% | 13.5% | 10.9% | 11.9% | 20.1% | 22.9% | 16.6% | 22.7% |
| ROE | · | 10.3% | 12.8% | 12.9% | 11.4% | 9.1% | 8.3% | 17.6% | 19.0% | 14.2% | 17.9% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.0% |
B.R.Goyal Infrastructure debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and drew on its cash. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
B.R.Goyal Infrastructure balance sheet
At each 31 March · ₹ crore
| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 9 | 9 | 9 | 9 | 9 | 9 | 24 | 24 |
| Reserves | 45 | 50 | 57 | 57 | 65 | 71 | 79 | 96 | 118 | 205 | 250 |
| Net worth | 46 | 51 | 58 | 66 | 74 | 80 | 88 | 105 | 127 | 229 | 274 |
| Borrowings | 61 | 69 | 58 | 54 | 57 | 65 | 53 | 42 | 49 | 70 | 76 |
| Other liabilities | 27 | 34 | 28 | 47 | 77 | 49 | 62 | 50 | 63 | 74 | 108 |
| Total liabilities | 134 | 154 | 144 | 167 | 208 | 194 | 203 | 197 | 239 | 373 | 458 |
| Fixed assets | 44 | 53 | 45 | 47 | 44 | 49 | 54 | 47 | 55 | 71 | 99 |
| Capital work in progress | 14 | 11 | 7 | 7 | 9 | 7 | 0 | 0 | 0 | 0 | 2 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 6 | 5 | 4 |
| Other assets | 76 | 90 | 92 | 113 | 155 | 138 | 149 | 147 | 178 | 297 | 353 |
B.R.Goyal Infrastructure cash flow
₹ crore
| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 20 | 18 | 7 | 17 | 7 | 8 | 27 | 23 | 12 | -36 | 2 |
| Cash from investing | -11 | -12 | 5 | -5 | -15 | -7 | 0 | 2 | -13 | -19 | -35 |
| Cash from financing | -11 | 0 | -16 | -5 | -4 | -1 | -19 | -19 | 1 | 92 | -2 |
| Net cash flow | -2 | 6 | -4 | 7 | -12 | 0 | 8 | 6 | 0 | 37 | -35 |
Working capital
Days
| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 46 | 44 | 74 | 66 | 58 | 37 | 43 | 22 | 18 | 27 | 23 |
| Inventory days | 139 | 262 | 253 | 252 | 256 | 191 | 235 | 211 | 295 | 582 | 1,118 |
| Days payable | 94 | 148 | 109 | 129 | 207 | 100 | 109 | 53 | 109 | 172 | 267 |
| Cash conversion cycle | 91 | 159 | 218 | 188 | 107 | 128 | 169 | 180 | 204 | 437 | 874 |
| Working capital days | 16 | 22 | 52 | 45 | 46 | 60 | 74 | 58 | 40 | 77 | 82 |
B.R.Goyal Infrastructure peers and competitors
Listed SME companies in the same industryBy sales, B.R.Goyal Infrastructure is number 2 of the 58 listed SME companies in construction.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Ganesh Infraworld | 374 | 4.9 | 836 | 76.2 | 12.6% | 1.94 |
| B.R.Goyal Infrastructure | 461 | 10.3 | 820 | 44.9 | 9.0% | 0.28 |
| Sathlokhar Synergys E&C Global | 979 | 11.9 | 820 | 82 | 14.0% | 0.25 |
| Goel Construction Company | 592 | 12.9 | 657 | 46 | 11.0% | 0.03 |
| Savy Infra and Logistics | 281 | 6.7 | 638 | 42 | 9.3% | 0.33 |
| AVP Infracon | 195 | 4.6 | 441 | 42.1 | 19.4% | 1.39 |
| E To E Transportation Infrastructure | 524 | 30.8 | 380 | 17 | 10.0% | 0.80 |
| Solarium Green Energy | 247 | 12.4 | 368 | 20 | 8.0% | 0.96 |
| Chavda Infra | 330 | 19.4 | 321 | 17 | 18.0% | 0.63 |
| Giriraj Civil Developers | 115 | 7.6 | 309 | 15.1 | 7.7% | 0.15 |
| Karbonsteel Engineering | 164 | 14.9 | 301 | 11 | 11.0% | 0.48 |
| Median of the 10 others | 306 | 12.2 | 411 | 31 | 11.0% | 0.55 |
B.R.Goyal Infrastructure shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
B.R.Goyal Infrastructure shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Mar 25 | Sep 25 | Mar 26 | Sep 26 | |
|---|---|---|---|---|
| Promoters | 73.13% | 73.13% | 73.60% | 73.60% |
| Foreign investors (FIIs) | 2.57% | 1.05% | - | - |
| Indian institutions (DIIs) | 10.38% | 6.95% | - | - |
| Number of shareholders | 1,360 | 1,346 | 1,199 | 1,031 |
B.R.Goyal Infrastructure study: the business from its own documents
Read from 9 of the company's own documentsB.R.Goyal Infrastructure so far
From the company's own record
- 24 Sept 2026Order worth ₹926 cr
- 30 Sept 2026Promoters at 73.60%
- 14 Oct 2026Highest close since listing, ₹200.00
B.R.Goyal Infrastructure key facts from the filings
Each figure with the document it comes from
- Order book
- ₹1,720.7 cr
- Work in hand at 31 August 2026, up 40% from ₹1,235 cr at March 2026; the company expects to execute it over 6 to 24 months.Press release, 24 September 2026, p.2
- New orders
- ₹926 cr
- Won between April and August 2026 across roads, buildings and toll collection.Press release, 24 September 2026, p.2
- Toll share of sales
- About 47%
- Toll collection's share of FY26 revenue, with roads and buildings about 49% and concrete about 3%.Earnings call, June 2026, p.11
- Margin by business
- 4% toll, 14% EPC
- EBITDA margins the company gave for FY26; the blended figure was 9.13%.Earnings call, June 2026, p.11
- Bid capacity
- About ₹2,000 cr
- Total work the company says it can be awarded today, with single road orders of ₹600 cr to ₹700 cr and buildings of about ₹150 cr.Earnings call, June 2026, p.8
Show 5 more facts
- Strike rate
- 10% to 15%
- Share of construction bids won; for toll contracts the company puts it above 70%.Earnings call, June 2026, p.8
- Wastewater entry
- ₹167 cr order
- First sewerage and wastewater project, in Tamil Nadu; only ₹5.7 cr had been executed by March 2026.Earnings call, June 2026, p.4; Investor presentation, June 2026, p.19
- Customer concentration
- 33.85%
- Largest customer's share of FY24 revenue; the top ten gave 82.42%, all government bodies and agencies.Offer document, p.41
- Credit rating
- CARE BBB+/Stable
- Long term rating reaffirmed in February 2025 with the short term rating raised to CARE A2.CareEdge rating note, 28 February 2025, p.1
- Promise against delivery
- ₹820 cr
- FY26 revenue against the ₹700 cr to ₹750 cr the company had expected in November 2025.Earnings call, November 2025, p.14; Earnings call, June 2026, p.5
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
On the June 2026 call the company said it aims for sales growth of 20% to 25% a year and an EBITDA margin of 10% to 11% in FY27, against 9.13% in FY26. Its first priority for FY27 is adding about ₹2,000 cr of new orders across roads, wastewater and toll; it had about ₹1,500 cr of bids awaiting results and plans to bid for asset monetisation, hybrid annuity and BOT projects. The Board approved convertible warrants of up to ₹13.09 cr to fund working capital for larger projects.
| What management said | When | What happened |
|---|---|---|
| FY26 revenue of ₹700 cr to ₹750 cr | November 2025 call | ₹820 cr |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
B.R.Goyal Infrastructure earns a building margin on government road and building contracts and a thin margin on running toll plazas, which add a lot of sales.
Its weak spots are winning only a small share of tenders against many rivals, a few large customers, and work that has to be won again project by project.
WatchCan it set its own prices?No. Work is won by tender, usually at the lowest compliant price, though contracts carry price escalation clauses.
AverageHow strong is it against rivals?It has a long record, its own equipment and qualification for mid sized jobs, but wins only a small share of construction bids.
AverageWho are its customers?Government bodies that pay reliably, but a few of them give most of the work.
AverageDoes it need a lot of money?Contracting ties up money in deposits, retention and work in progress, and larger projects need more of it.
AverageCan it keep finding new work?Government spending gives a steady flow of tenders, and the order book has grown since March, but new work must be won constantly.
WatchDo good and bad years swing a lot?Sales depend on order wins and execution speed, and have fallen in a half year before.
Who runs B.R.Goyal Infrastructure?
Promoters, directors and officers; tap a name for the background
BKBrij Kishore GoyalPromoter, Chairman and Managing Director · holds 20.62%
With the company since incorporation and reappointed Chairman and Managing Director from 1 May 2023 for five years; over 18 years in civil construction at the time of the offer, handling business development, financing, government liaison, tendering, bidding and quality checks. Holds no formal educational certificate, as the offer document states.
Offer document, p.207 and p.218; Annual Report 2025-26, p.88RKRajendra Kumar GoyalPromoter and Whole Time Director · holds 20.62%
With the company since incorporation, with 31 years in road construction; responsible for project execution, purchase and maintenance of equipment and site management.
Offer document, p.207 and p.218; Annual Report 2025-26, p.88GGGopal GoyalPromoter and Whole Time Director · holds 20.62%
With the company since incorporation, with over 31 years in infrastructure; looks after office administration, human resources, client relationships and new business.
Offer document, p.207, p.208 and p.218; Annual Report 2025-26, p.88YGYash GoyalPromoter and Executive Director
Executive Director since October 2023, earlier a senior manager in the technical department, with about seven years in construction at the time of the offer. The offer document states that Yash Goyal is the son of Brij Kishore Goyal.
Offer document, p.208, p.209 and p.221UGUppal GoyalPromoter and Executive Director
Executive Director since October 2023 with about eight years in construction at the time of the offer. The offer document states that Uppal Goyal is the son of Rajendra Kumar Goyal.
Offer document, p.208, p.209 and p.221BGBalkrishna GoyalPromoter · holds 3.76%
Named among the promoters in the offer document with 37 years in business; not on the board.
Offer document, p.221 and p.222; Annual Report 2025-26, p.88DTDasharath TomarChief Financial Officer
A chartered accountant with 18 years of experience, earlier with Cummins Technologies; CFO since May 2018.
Offer document, p.218MBMohit BhandariIndependent Director
A fellow chartered accountant with 11 years in corporate consulting and audit, on the board since June 2019.
Offer document, p.208B.R.Goyal Infrastructure latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹478 cr (+36%), net profit ₹28.7 cr (+62%) on H2 FY25.
- Shareholding, 30 Sept 2026: promoters unchanged at 73.60%.
- 24 Sept 2026: order worth ₹926 cr announced.
B.R.Goyal Infrastructure announcements
4 on record, latest first; each opens the filing on the exchange
- Company UpdateCertificate under Reg 74(5) of the SEBI (DP) Regulations, 2018 for the quarter ended 30 September 2026PDF ↗
- Company UpdatePress Release on Expansion of Order Book as on 31 August 2026PDF ↗
- Insider Trading / SASTIntimation for closure of Trading WindowPDF ↗
- Company UpdateIntimation regarding the Schedule of Arihant Bharat Connect ConferencePDF ↗
B.R.Goyal Infrastructure annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 June 2026 ↗read
- 30 Nov 2025 ↗read
- 30 June 2026 ↗read
- 30 Nov 2025 ↗read
- 31 July 2025 ↗read
B.R.Goyal Infrastructure share split, bonus and dividends
From the corporate actions the company announces on the exchange
- DividendFinal Dividend - Rs. - 0.2500ex-date 20 Aug 2026
Checks we ran on B.R.Goyal Infrastructure's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- !The two halves of FY25 as reported add up to sales of ₹565.08 cr, the full year to ₹509.80 cr; one of the filings may have been restated.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,38,24,704 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY16 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about B.R.Goyal Infrastructure
What does B.R.Goyal Infrastructure do?
B.R.Goyal Infrastructure builds roads, bridges and government buildings, and runs toll plazas on national highways for the highways authority. It is based in Indore and its shares trade on BSE SME.
What is the share price of B.R.Goyal Infrastructure?
₹194 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of B.R.Goyal Infrastructure?
₹461 cr at the close on 6 Nov 2026, on 2,38,24,704 shares.
What is the P/E of B.R.Goyal Infrastructure?
10.3 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are B.R.Goyal Infrastructure's revenue and profit?
Revenue ₹820 cr and profit after tax ₹45 cr in FY26.
Who are the promoters of B.R.Goyal Infrastructure?
Brij Kishore Goyal, Rajendra Kumar Goyal, Gopal Goyal, Yash Goyal, Uppal Goyal, Balkrishna Goyal; promoters held 73.60% at 30 Sept 2026.
What is B.R.Goyal Infrastructure's website?
www.brginfra.in
More SME companies like B.R.Goyal Infrastructure
Other listed SME companies in construction, the closest in size first, each read from its own documents.
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- Ganesh InfraworldGANESHIN · NSE Emerge · Construction · listed 2024Market cap ₹355 cr
- GRE Renew EnertechGRERENEW · BSE SME · ConstructionMarket cap ₹338 cr
- Chavda InfraCHAVDA · NSE Emerge · Construction · listed 2023Market cap ₹304 cr
- Savy Infra and LogisticsSAVY · NSE Emerge · Construction · listed 2025Market cap ₹303 cr
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Built from 3 investor presentations, 2 earnings call transcripts, 2 annual reports, 1 offer document, 1 credit rating note, 4 exchange announcements, 4 shareholding patterns and 11 years of reported results. Every figure carries its source; where the documents are silent, the page says so.