| Construction | Engineering, Procurement and Construction of roads, highways, bridges, flyovers, metro rail, and transmission infrastructure. | Strong government relationships, experienced execution team, established compliance, and geographical diversification across India. | B2G focused with major clients including National Highways Authority of India, MoRTH, state governments, and public sector units. | Hybrid Annuity Model (HAM) road projects and specialized metro rail EPC contracts exhibit higher margins. | 5054 | 99 | Revenue from executing EPC contracts primarily with government clients and select private clients on fixed-price and hybrid annuity models. | Fixed project contracts, item rate, and hybrid annuity payment structures with milestone-based collections. | Government spending on road infrastructure, metro expansion, and strategic project wins in EPC road and rail sectors. | |
| Renewable | Development and EPC execution of solar power plants and large-scale standalone battery energy storage systems (BESS). | Early mover advantage in BESS and solar EPC with government support and emerging expertise in renewable infrastructure delivery. | Government renewable energy agencies like Gujarat Urja Vikas Nigam Ltd and other state power utilities (B2G). | Battery Energy Storage System projects provide strategic growth but currently incurring initial losses due to capital investments. | 1 | 1 | Project contracts under tariff-based competitive bidding with viability gap funding and build-own-operate-transfer arrangements. | Lump sum EPC contracts and BOO models with tariff-based revenue streams over project lifetimes. | Growing focus on clean energy, government policies promoting solar and storage, and diversification of business portfolio. | |
