Bandhan Infrastructure Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Bandhan Infrastructure Fund Direct Growth Plan has a current NAV of ₹57.57 as of 09 Sep 2026 and scheme AUM of ₹1,500 Cr. Its 1-year, 3-year and 5-year returns are -0.14%, 15.22% and 16.64% respectively, and the scheme is marked High Risk. Our view is that the fund has delivered strong long-term compounding relative to its benchmark, but the recent 1-year result is weaker, so it fits investors who can handle a sharper cyclical path in exchange for infrastructure-led upside.
The portfolio is anchored in large, well-known businesses and the top 10 holdings together account for 41.06% of assets across 59 disclosed holdings. That mix suggests a focused infrastructure-and-capital-goods tilt rather than a broad market-style portfolio, which can help in a strong capex cycle but may create uneven short-term moves.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹57.57 as of 09 Sep 2026 |
| AUM | ₹1,500 Cr |
| Expense Ratio | 0.87% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 0.50% on or before 30D, Nil after 30D |
| Fund Managers | Vishal Biraia |
The fund is managed by Vishal Biraia.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.14% | -4.69% |
| 3M | 1.69% | 0.93% |
| 1Y | -0.14% | -7.16% |
| 3Y | 15.22% | 6% |
| 5Y | 16.64% | 5.87% |
The short-term picture is mixed but not weak across the board. Over 1 month the fund fell less than the benchmark, while over 3 months it outpaced the benchmark by a small margin. That tells us the recent drawdown has been real, but it has been milder than the broader benchmark move in some windows.
The 1-year return is still negative, which matters more than the shorter windows because it shows the fund has not yet fully repaired the earlier softness. Even so, the benchmark has been weaker over the same horizon, so the fund has held up better than NIFTY 50 over 12 months.
The longer record is clearer. The 3-year and 5-year returns are both comfortably ahead of the benchmark, and the gap is large enough to suggest the strategy has added value over a full cycle rather than only in one or two strong months. Our read is that the fund has a stronger long-term pattern than near-term momentum, which is typical of a thematic equity strategy with a high-conviction sector tilt.
That split between recent softness and longer-term strength is important. Investors looking only at the last year may miss the fact that the fund has compounded well over 3 and 5 years, but they should also be ready for periods when returns lag and recover unevenly.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD Bandhan Infrastructure?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Bandhan Infrastructure? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Bandhan Infrastructure Fund Direct Growth Plan | -0.14% | 15.22% | 16.64% |
| ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan | 71.49% | 36.55% | Data not available |
| Motilal Oswal Active Momentum Fund Direct Growth Plan | 30.08% | Data not available | Data not available |
| Kotak Healthcare Fund Direct Growth Plan | 28.85% | Data not available | Data not available |
| HDFC Pharma and Healthcare Fund Direct Growth Plan | 28.6% | Data not available | Data not available |
| PGIM India Healthcare Fund Direct Growth Plan | 27.47% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
Compared with the peers listed here, the fund’s 1-year return is clearly softer. Several peers have posted much stronger 1-year outcomes, so the recent number does not stand out positively even though it is better than the benchmark over the same period.
The longer-term picture is more balanced. Among the peers with 3-year data, the fund sits behind the ICICI Pru strategic metal and energy strategy, but the available 3-year figure still shows solid compounding and a better fit with its own infrastructure theme than the more momentum-driven peers. On 5-year data, only the current fund has a visible figure in this set, so the longer-horizon comparison is limited.
That leaves two different stories. The short-term comparison is weaker, but the multi-year record still supports the idea that this fund can compound well when the underlying theme is working. The peer set also shows that strong recent returns are possible in thematic equity, yet they can come with very different risk patterns across sectors.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Larsen & Toubro Limited | Infrastructure | 5.69% |
| Kirloskar Brothers Limited | Capital Goods | 4.78% |
| Reliance Industries Limited | Crude Oil | 4.7% |
| Bharti Airtel Limited | Telecom | 4.41% |
| Interglobe Aviation Limited | Aviation | 3.81% |
| GPT Infraprojects Limited | Infrastructure | 3.74% |
| Ultratech Cement Limited | Construction Materials | 3.55% |
| Adani Ports and Special Economic Zone Limited | Logistics | 3.54% |
| Adani Energy Solutions Limited | Power | 3.42% |
| Bharat Electronics Limited | Capital Goods | 3.42% |
The top 10 holdings account for approximately 41.06% of the portfolio.
To see all holdings, visit the Bandhan Infrastructure Fund Direct Growth Plan page
The largest holding, Larsen & Toubro Limited, carries a 5.69% weight, so it is meaningful but not overwhelming on its own. The tenth holding is at 3.42%, which shows the list tapers gradually rather than dropping sharply after the first few positions.
That shape suggests a portfolio where several positions may influence returns, but no single stock dominates the disclosed top slice. The presence of infrastructure, capital goods, telecom, aviation, logistics and power names also points to a diversified industrial tilt within the theme, although the fund still remains concentrated enough for individual positions to matter.
With 59 disclosed holdings and 41.06% in the top 10, the rest of the portfolio likely forms a meaningful tail beyond the largest positions. That balance may help avoid over-dependence on one holding, but it also means the fund can still be sensitive to sector sentiment and stock-specific moves in its core names.
Source data date: as of 09 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk equity exposure and who can stay invested through uneven stretches. The 1-year return is negative, but the 3-year and 5-year records are much stronger, so the main appeal is long-term compounding rather than smooth near-term results.
It is better suited to a longer horizon because the portfolio is thematic and the benchmark comparison has varied by period. Investors who want a simple, steady core equity allocation may find the swings uncomfortable, while those who can accept periodic underperformance in exchange for infrastructure-led upside may view it differently.
The key trade-off is between stronger multi-year upside potential and weaker short-term consistency. The concentrated top holdings can support that upside when the theme works, but they can also leave the fund more exposed to sector cycles than a broader market fund.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: 0.50% on or before 30D, Nil after 30D.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of Bandhan Infrastructure Fund Direct Growth Plan?
The current NAV is ₹57.57 as of 09 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are -0.14%, 15.22% and 16.64%.
How has the fund done against its benchmark?
It has outperformed NIFTY 50 over 3 years and 5 years, and it has also done better than the benchmark over 1 year despite the negative return.
How does it compare with the peer funds listed here?
Its 1-year return is lower than the peer funds shown here, but its 3-year return remains solid. The longer-term comparison is less complete because several peers do not have 5-year figures available in this set.
Is there a minimum SIP amount?
Yes, the minimum SIP amount is ₹100.
What is the exit load and who manages the fund?
The exit load is 0.50% on or before 30D and nil after 30D. The fund is managed by Vishal Biraia.
Bottom line
Bandhan Infrastructure Fund Direct Growth Plan looks better on its longer record than on its recent 12-month result. The fund has stayed ahead of its benchmark over 3 and 5 years, but the latest year is softer and the portfolio remains thematic, which means performance can move unevenly. The top holdings are sizeable yet not extreme, and the 59-holding structure suggests a focused but not one-stock portfolio. It is a better fit for investors who can tolerate High Risk equity swings and want infrastructure-led exposure over a multi-year horizon.
Published on 10 September 2026 at 9:54 AM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.