| Railways | Execution of railway infrastructure projects: new lines, doubling, electrification, metro, bridges, workshops, signaling and telecom systems | Navratna PSU status, long-standing Indian Railways partnership, pan-India project footprint, proven large-scale project delivery capability | Indian Railways, Central and State Governments, Metro Corporations; primarily B2G with some competitive bidding sectors | Metro projects, signaling and telecom, and complex bridge construction yield higher margins | 18653 | 94 | Project contracts from government and bidding processes, revenue recognized on project milestones and commissioning | Project-based payments generally on turnkey contracts; milestone-based billing and reimbursement | Government's infrastructure expansion, electrification push, urban metro projects and port connectivity drives segment growth | Golden Quadrilateral Rail Projects, Pamban Bridge, Kolkata Metro, Indore Metro, Nagpur Metro |
| Others | Metro projects, highways, multi modal logistics parks, construction of roads, ports infrastructure, solar energy projects, signaling and telecom | Specialized expertise in engineering, government backing, JV partnerships, and diversified project portfolio | Central/State government agencies, private partners, international clients; B2G and B2B mix | PPPs and metro construction, signaling, and specialized infrastructure projects | 1269 | 6 | Contract-based revenues through competitive bidding, joint ventures, and public-private partnerships | Contractual payments; hybrid annuity model for highways; concession arrangements in SPVs | Urbanization, rise in metro projects, government focus on logistics and alternative infrastructure sectors | Indore Metro Viaduct, Chennai and Bengaluru Multi Modal Logistics Parks, Overseas Projects |
