India’s road infrastructure is transforming rapidly, driven by the government’s ambitious initiatives like Bharatmala Pariyojana and the National Infrastructure Pipeline (NIP). With increased budget allocations and faster project execution, several construction companies have emerged as leaders in highway and expressway development.
The ranking of these companies is based on their order book value, representing the total value of ongoing projects. These companies demonstrate strong financials, operational efficiency, and engineering excellence, making them leaders in highway construction.
Let’s explore the top five highway construction companies in India as of 2024.
1. HG Infra Engineering Limited
India’s Leading Highway Construction Company with an ₹11,200 Crore Order Book.
HG Infra Engineering Ltd (HGIEL) stands as one of India’s most prominent infrastructure companies, excelling in highway construction, road maintenance, and metro rail projects. The company has earned a reputation for completing large-scale projects with speed and efficiency, leading the highway sector in India.
Check the latest share price of HG Infra Engineering Ltd.
Company Overview & Strengths
- Established in 2003, headquartered in Jaipur, Rajasthan.
- Specializes in EPC (Engineering, Procurement, and Construction) and Hybrid Annuity Model (HAM) projects.
- Uses advanced construction techniques and high-quality materials for durable infrastructure.
Order Book & Financial Performance:
As of December 2024, H.G. Infra holds an order book of ₹11,200 crore, making it India’s largest highway construction company.
Financial Highlights (Last 5 Years):
- Sales CAGR: 21.7%
- Net Profit CAGR: 33.4%
- Return on Equity (RoE): 26.1%
- Return on Capital Employed (RoCE): 23.3%
H.G. Infra continues to strengthen its leadership position with a robust project acquisition strategy and efficient execution.
2. PNC Infratech Ltd.
A Multi-Sector Infrastructure Giant with an ₹8,800 Crore Order Book.
PNC Infratech has built a strong presence across multiple sectors, including highways, bridges, airport runways, and power transmission. Known for its fast execution and financial discipline, it has developed some of India’s most essential road networks.
Check the latest share price of PNC Infratech Ltd.
Company Overview & Strengths:
- Founded in 1999, headquartered in Agra, Uttar Pradesh.
- Operates in EPC, BOT (Build-Operate-Transfer), and HAM projects.
- Excels in both rural and urban infrastructure development.
Order Book & Financial Performance:
As of December 2024, PNC Infratech’s order book stands at ₹8,800 crore.
Q3 FY24 Financial Highlights:
- Net profit surged 163% YoY to ₹176.14 crore
- Revenue grew by 13.78% to ₹1,582.02 crore
- 5-Year Revenue CAGR: 25.3%
The company’s ability to complete projects ahead of schedule ensures bonuses and better profitability.
3. Adani Enterprises (Adani Road Transport Ltd.)
Expanding India’s Highway Network with ₹7,200 Crore Revenue.
A subsidiary of the Adani Group, Adani Enterprises Ltd is rapidly growing in India’s highway construction sector. With financial strength and technological expertise, the company focuses on developing expressways, highways, and smart roads.
Check the latest share price of Adani Enterprises Ltd.
Company Overview & Strengths:
- Part of Adani Enterprises Ltd., headquartered in Ahmedabad, Gujarat.
- Specializes in large-scale road projects and multi-modal transport networks.
- Uses AI-based traffic management and smart tolling systems.
Order Book & Financial Performance:
Adani Enterprises reported ₹7,200 crore in road construction revenue in the first nine months of FY24.
Financial Growth (2020-2024):
- Sales CAGR: 19%
- Net Profit CAGR: 71%
Backed by a solid financial base and high-value projects, Adani Road Transport is set to expand further.
4. KNR Constructions Ltd.
A Trusted Name in Highway & Irrigation Projects with an ₹5,500 Crore Order Book.
KNR Constructions specializes in highways, irrigation, and water management projects. Its reputation for quality and timely delivery has made it a preferred choice for government contracts.
Check the latest share price of KNR Constructions Ltd.
Company Overview & Strengths:
- Established in 1995, headquartered in Hyderabad, Telangana.
- Expertise in BOT and HAM model projects.
- Strong presence in NHAI and state government projects.
Order Book & Financial Performance:
As of December 2024, KNR Constructions has an order book worth ₹5,500 crore.
Financial Growth (Last 5 Years):
- Sales CAGR: 14%
- Net Profit Growth: 23%
KNR’s cost-effective operations and reliable performance ensure consistent growth.
5. Welspun Enterprises Ltd.
Diversified Infrastructure Player with an ₹1,700 Crore Order Book.
Part of the Welspun Group, Welspun Enterprises operates in road construction, water infrastructure, and oil & gas pipelines. Its focus on EPC and HAM projects has expanded its presence in India’s highway development sector.
Check the latest share price of Welspun Enterprises Ltd.
Company Overview & Strengths:
- Headquartered in Mumbai, Maharashtra.
- Specializes in highways, water supply, and pipeline infrastructure.
- Actively engages in public-private partnerships (PPPs).
Order Book & Financial Performance:
Current order book value: ₹1,700 crore
Financial Growth (Last 5 Years):
- Sales Growth: 10%
- Net Profit Growth: 19%
Welspun Enterprises continues to grow as a key player in India’s infrastructure development.
Conclusion
India’s continuous investment in road infrastructure provides significant opportunities for construction companies. H.G. Infra Engineering, PNC Infratech, Adani Enterprises, KNR Constructions, and Welspun Enterprises have established themselves as leaders, driven by strong order books and financial growth.
As the country expands its expressways, national highways, and smart roads, these companies will play a significant role in shaping India’s transportation landscape. Investors and stakeholders should closely monitor their growth as they secure high-value projects and drive India’s infrastructure development.
Disclaimer: This article is for informational purposes only and should not be considered investment advice.
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