Bengaluru, May 21 -- India's infrastructure sector has witnessed one of its strongest multi-year expansion cycles driven by rising government capex across highways, railways, freight corridors, metro projects, and logistics infrastructure. As a result, EPC and construction companies have seen sharp valuation re-ratings over the last two years as investors increasingly priced in long-term execution growth and strong order pipelines.

But in infrastructure businesses, headline order wins only tell one part of the story. The bigger variable often remains whether those projects continue progressing smoothly enough to convert into actual revenue and cash flows over time.

Against this backdrop, this EPC dominant infra compnay has now removed t...