| Transport | Road construction, EPC, BOT toll road projects, and road maintenance | Early mover advantage in BOT projects, strong project execution capabilities, regulatory approvals, and franchise management | Government agencies (NHAI), state transport departments, contractors | BOT toll collection and operation & maintenance segments | 1605 | 45 | Project execution fees, toll collections, and operation & maintenance contracts | Contract-based EPC payments, annuity and toll revenue models for BOT projects | Government infrastructure push, national highway expansion, adoption of HAM and BOT project models | Delhi-Meerut Expressway, Aunta-Simaria Bridge, Sattanathapuram-Nagapattinam Highway |
| Water | Water treatment, distribution infrastructure, wastewater management, rural water supply schemes | Technological partnerships, integrated water solutions, and strong government relationships | Municipal corporations, government rural water missions, private industrial users | Recurring O&M contracts and specialized wastewater treatment projects | 1283 | 36 | EPC contracts, O&M service fees, long-term concession agreements | Fixed contract payments and recurring O&M revenues | Government missions (Jal Jeevan, AMRUT), urban sanitation projects, technological innovation in treatment | Dharavi Wastewater Treatment Facility, Bhandup Water Treatment Plant, Dewas Industrial Water Supply |
| Tunneling and Rehabilitation | Urban tunneling, pipeline rehabilitation, sewage and drainage infrastructure | First mover in mechanized tunneling in India, proprietary technology, strong subsidiary presence | Municipal bodies, urban local governments, water agencies | Specialized tunneling technology services | 696 | 19 | EPC project contracts, joint ventures, technology licensing via subsidiaries | Project-based EPC payments | Urban infrastructure demand, city expansion, wastewater conveyance needs | Welspun Michigan Engineers Limited projects including Dharavi-Ghatkopar Tunnel |
