{"id":151402,"date":"2026-07-15T15:11:42","date_gmt":"2026-07-15T09:41:42","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=151402"},"modified":"2026-07-15T15:11:43","modified_gmt":"2026-07-15T09:41:43","slug":"psu-epc-construction-arms-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/","title":{"rendered":"3 PSU EPC\/Construction Arms Riding India&#8217;s Infrastructure Capex Cycle"},"content":{"rendered":"<div class=\"meta-block\"><\/div>\n<p style=\"border-left: 4px solid #1F4E79; background: #EBF3FB; padding: 10px 16px; font-style: italic;\"><em>IRCON order book Rs 24,984 Cr, mkt cap Rs 12,355 Cr. Navratna status since Oct 2023. Railway capex Rs 2.93 lakh Cr FY27.<\/em><\/p>\n<p>NBCC, RITES and IRCON International are three PSU EPC\/construction arms providing engineering, construction and infrastructure consultancy services across railways, highways and government building projects in India.<\/p>\n<p>As Budget 2026-27 allocated a record Rs 2.93 lakh crore for railway capex and infrastructure spending continues to rise broadly, PSU EPC\/construction arms are positioned to benefit from both direct construction contracts and consultancy mandates on government projects.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=psu-epc-construction-arms-stocks\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<p>This article examines NBCC, RITES and IRCON as PSU EPC\/construction arms, covering their business models, order books and risks.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#What_Are_PSU_EPCConstruction_Arms\" title=\"What Are PSU EPC\/Construction Arms\">What Are PSU EPC\/Construction Arms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#Why_Indias_Infrastructure_Capex_Cycle_Supports_These_PSU_EPCConstruction_Arms\" title=\"Why India&#8217;s Infrastructure Capex Cycle Supports These PSU EPC\/Construction Arms\">Why India&#8217;s Infrastructure Capex Cycle Supports These PSU EPC\/Construction Arms<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#NBCC_Government_Redevelopment_Specialist\" title=\"NBCC: Government Redevelopment Specialist\">NBCC: Government Redevelopment Specialist<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#RITES_Railway_Consultancy_and_Export_Specialist\" title=\"RITES: Railway Consultancy and Export Specialist\">RITES: Railway Consultancy and Export Specialist<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#IRCON_International_Railway_EPC_With_Navratna_Status\" title=\"IRCON International: Railway EPC With Navratna Status\">IRCON International: Railway EPC With Navratna Status<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#Factors_Affecting_PSU_EPCConstruction_Arms\" title=\"Factors Affecting PSU EPC\/Construction Arms\">Factors Affecting PSU EPC\/Construction Arms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#Benefits_of_Investing_in_PSU_EPCConstruction_Arms\" title=\"Benefits of Investing in PSU EPC\/Construction Arms\">Benefits of Investing in PSU EPC\/Construction Arms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#Risks_of_Investing_in_PSU_EPCConstruction_Arms\" title=\"Risks of Investing in PSU EPC\/Construction Arms\">Risks of Investing in PSU EPC\/Construction Arms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#How_to_Choose_PSU_EPCConstruction_Arms\" title=\"How to Choose PSU EPC\/Construction Arms\">How to Choose PSU EPC\/Construction Arms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#How_to_Invest_in_PSU_EPCConstruction_Arms\" title=\"How to Invest in PSU EPC\/Construction Arms\">How to Invest in PSU EPC\/Construction Arms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#Which_are_the_leading_PSU_EPCconstruction_arms\" title=\"Which are the leading PSU EPC\/construction arms?\">Which are the leading PSU EPC\/construction arms?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#What_is_IRCONs_order_book_size\" title=\"What is IRCON&#8217;s order book size?\">What is IRCON&#8217;s order book size?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#How_is_RITES_different_from_other_PSU_EPC_arms\" title=\"How is RITES different from other PSU EPC arms?\">How is RITES different from other PSU EPC arms?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#What_does_NBCC_specialise_in\" title=\"What does NBCC specialise in?\">What does NBCC specialise in?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#What_is_IRCONs_Navratna_status\" title=\"What is IRCON&#8217;s Navratna status?\">What is IRCON&#8217;s Navratna status?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/psu-epc-construction-arms-2026\/#What_risks_affect_PSU_EPCconstruction_arms\" title=\"What risks affect PSU EPC\/construction arms?\">What risks affect PSU EPC\/construction arms?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_PSU_EPCConstruction_Arms\"><\/span><strong>What Are PSU EPC\/Construction Arms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>PSU EPC\/construction arms are government-owned companies that provide engineering, procurement and construction services, along with technical consultancy, for railways, highways, buildings and other public infrastructure projects.<\/p>\n<p>Unlike pure manufacturing or asset-owning PSUs, these companies generate revenue from project execution fees and construction contracts, often diversifying into international consultancy work alongside their core domestic infrastructure mandate.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Indias_Infrastructure_Capex_Cycle_Supports_These_PSU_EPCConstruction_Arms\"><\/span><strong>Why India&#8217;s Infrastructure Capex Cycle Supports These PSU EPC\/Construction Arms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Budget 2026-27&#8217;s Rs 2.93 lakh crore railway capex allocation, along with broader infrastructure spending across highways and government buildings, has created a multi-year project pipeline for PSU EPC\/construction arms specialising in engineering and construction services.<\/p>\n<ul>\n<li><strong>Record railway capex:<\/strong> The Rs 2.93 lakh crore FY27 railway allocation directly fills order books for railway-focused EPC companies like IRCON.<\/li>\n<li><strong>Diversified project mandates:<\/strong> These companies work across railways, highways, tunnels, buildings and international consultancy assignments.<\/li>\n<li><strong>Navratna and Miniratna status:<\/strong> Several PSU EPC\/construction arms hold elevated autonomy status, supporting faster project execution.<\/li>\n<li><strong>Government building and urban projects:<\/strong> NBCC&#8217;s mandate spans government building construction, redevelopment and urban infrastructure projects.<\/li>\n<\/ul>\n<table border=\"1\" cellspacing=\"0\" cellpadding=\"6\">\n<tbody>\n<tr>\n<th>Company<\/th>\n<th>Market Cap (Rs Cr)<\/th>\n<th>Order Book (Rs Cr)<\/th>\n<th>Core Segment<\/th>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/user\/stocks\/nbcc\/nbcc-(india)-ltd-share-price-today\">NBCC (India) Ltd<\/a><\/td>\n<td>&#8211;<\/td>\n<td>&#8211;<\/td>\n<td>Government building and redevelopment<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/user\/stocks\/rites\/rites-ltd-share-price-today\">RITES Ltd<\/a><\/td>\n<td>&#8211;<\/td>\n<td>&#8211;<\/td>\n<td>Railway consultancy and exports<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/user\/stocks\/ircon\/ircon-international-ltd-share-price-today\">IRCON International<\/a><\/td>\n<td>12,355<\/td>\n<td>24,984<\/td>\n<td>Railway and highway EPC<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span class=\"ez-toc-section\" id=\"NBCC_Government_Redevelopment_Specialist\"><\/span><strong>NBCC: Government Redevelopment Specialist<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>NBCC is among the PSU EPC\/construction arms with a distinct focus on government building construction and colony redevelopment projects, using an asset-light project management consultancy model.<\/p>\n<p>The company&#8217;s specialised expertise in urban redevelopment mandates has supported consistent order inflow from central and state government clients, positioning it as a key beneficiary of India&#8217;s continued urban modernisation and infrastructure upgrade priorities.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"RITES_Railway_Consultancy_and_Export_Specialist\"><\/span><strong>RITES: Railway Consultancy and Export Specialist<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>RITES is a unique name among PSU EPC\/construction arms, combining domestic railway design and consultancy services with rolling stock and locomotive exports to countries across Asia and Africa.<\/p>\n<p>The company&#8217;s consultancy-led model, rather than pure construction, gives it a different risk and margin profile compared to heavier EPC contractors, with export order momentum providing an additional growth lever beyond India&#8217;s domestic capex cycle.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/sebi-registered-investment-advisor-india\"><strong>Get SEBI-Registered Research on PSU EPC Stocks<\/strong><\/a><\/p>\n<h3><span class=\"ez-toc-section\" id=\"IRCON_International_Railway_EPC_With_Navratna_Status\"><\/span><strong>IRCON International: Railway EPC With Navratna Status<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>IRCON International, elevated to Navratna status in October 2023, is among the smallest of the PSU EPC\/construction arms by market capitalisation, yet carries an order book of Rs 24,984 crore, roughly double its market cap.<\/p>\n<p>Having delivered 5,740 track kilometres of railway construction and 10,669 route kilometres of electrification over four decades, IRCON is well positioned to benefit from Budget 2026-27&#8217;s Rs 2.93 lakh crore railway capex allocation.<\/p>\n<p style=\"margin-top: 24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track NBCC, RITES and IRCON live prices.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Factors_Affecting_PSU_EPCConstruction_Arms\"><\/span><strong>Factors Affecting PSU EPC\/Construction Arms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Government infrastructure budget:<\/strong> Railway, highway and urban development allocations directly determine order inflow for this sector.<\/li>\n<li><strong>Execution capacity and timelines:<\/strong> Project delivery track record affects both revenue recognition and future order eligibility.<\/li>\n<li><strong>Export order diversification:<\/strong> Companies like RITES benefit from international consultancy and rolling stock export opportunities.<\/li>\n<li><strong>Working capital cycles:<\/strong> EPC businesses can face working capital strain during project execution before milestone payments are received.<\/li>\n<li><strong>Competitive bidding dynamics:<\/strong> Margins depend on competitive intensity in government tender processes.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Benefits_of_Investing_in_PSU_EPCConstruction_Arms\"><\/span><strong>Benefits of Investing in PSU EPC\/Construction Arms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Multi-year order visibility:<\/strong> Large disclosed order books provide forward revenue visibility uncommon in typical construction businesses.<\/li>\n<li><strong>Diversified project mandates:<\/strong> Exposure spans railways, highways, buildings and international consultancy within a single theme.<\/li>\n<li><strong>Government capex tailwind:<\/strong> Record Budget allocations for infrastructure directly support this sector&#8217;s growth.<\/li>\n<li><strong>Elevated autonomy status:<\/strong> Navratna and Miniratna classifications support faster project approval and execution.<\/li>\n<li><strong>Export diversification:<\/strong> Companies like RITES reduce dependence on domestic capex cycles through international contracts.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Risks_of_Investing_in_PSU_EPCConstruction_Arms\"><\/span><strong>Risks of Investing in PSU EPC\/Construction Arms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Execution delays:<\/strong> Land acquisition, approvals and supply chain issues can delay project timelines and revenue recognition.<\/li>\n<li><strong>Margin pressure from competitive bidding:<\/strong> Government tender processes can compress margins in competitive project categories.<\/li>\n<li><strong>Working capital strain:<\/strong> EPC businesses can face cash flow pressure during long project execution cycles.<\/li>\n<li><strong>Budget dependence:<\/strong> A slowdown in government infrastructure allocation could reduce fresh order inflow.<\/li>\n<li><strong>Geographic and project concentration:<\/strong> Heavy reliance on domestic government contracts creates client concentration risk.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Choose_PSU_EPCConstruction_Arms\"><\/span><strong>How to Choose PSU EPC\/Construction Arms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>Compare order book to revenue ratio across railway, highway and building-focused EPC companies.<\/li>\n<li>Review execution track record and project delivery timelines over the past 3 to 5 years.<\/li>\n<li>Assess export order diversification for companies like RITES beyond domestic capex cycles.<\/li>\n<li>Track working capital trends, since EPC businesses can be capital intensive during execution.<\/li>\n<li>Monitor Budget allocations for railways, highways and urban infrastructure each fiscal year.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Invest_in_PSU_EPCConstruction_Arms\"><\/span><strong>How to Invest in PSU EPC\/Construction Arms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>Use the Univest platform to track order books and project execution updates for EPC PSUs.<\/li>\n<li>Open a demat and trading account with Univest for zero-brokerage execution.<\/li>\n<li>Track quarterly results and new order announcements for NBCC, RITES and IRCON through the Univest app.<\/li>\n<li>Consult a SEBI-registered advisor before allocating capital to project execution-driven businesses.<\/li>\n<li>Review positions periodically as government infrastructure allocations and execution pace evolve.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>NBCC, RITES and IRCON International represent three distinct PSU EPC\/construction arms positioned to benefit from India&#8217;s record infrastructure capex cycle, spanning government building redevelopment, consultancy exports and railway construction. Historically, sustained government capex has supported multi-year order visibility for this sector, though execution delays and working capital strain remain real considerations. Consult a SEBI-registered advisor before making investment decisions.<\/p>\n<div style=\"background: #CC0000; border-radius: 8px; padding: 16px 20px; margin: 24px 0;\">\n<p style=\"color: #ffffff; font-size: 13px; line-height: 1.7; margin: 0;\"><strong style=\"color: #ffffff;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_leading_PSU_EPCconstruction_arms\"><\/span><strong>Which are the leading PSU EPC\/construction arms?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> NBCC, RITES and IRCON International are among the leading PSU EPC\/construction arms, spanning government building redevelopment, consultancy exports and railway construction.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_IRCONs_order_book_size\"><\/span><strong>What is IRCON&#8217;s order book size?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> IRCON, a leading PSU EPC\/construction arm, carries an order book of Rs 24,984 crore as of March 2026, split 78 percent railways and 16 percent highways.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_is_RITES_different_from_other_PSU_EPC_arms\"><\/span><strong>How is RITES different from other PSU EPC arms?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> RITES stands out among PSU EPC\/construction arms by combining railway design consultancy with rolling stock and locomotive exports, giving it a different risk and margin profile.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_NBCC_specialise_in\"><\/span><strong>What does NBCC specialise in?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> NBCC, among PSU EPC\/construction arms, specialises in government building construction, colony redevelopment and urban infrastructure projects using an asset-light model.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_IRCONs_Navratna_status\"><\/span><strong>What is IRCON&#8217;s Navratna status?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> IRCON was elevated to Navratna status in October 2023, giving this PSU EPC\/construction arm greater financial and operational autonomy for project execution.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_risks_affect_PSU_EPCconstruction_arms\"><\/span><strong>What risks affect PSU EPC\/construction arms?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Key risks for PSU EPC\/construction arms include execution delays, competitive bidding margin pressure, working capital strain and dependence on government infrastructure budget allocations.<\/p>\n<div class=\"faq-schema\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>PSU EPC and construction arms, NBCC, RITES and IRCON, benefit from India&#8217;s record infrastructure and railway capex cycle. 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