{"id":320248,"date":"2026-10-21T13:24:16","date_gmt":"2026-10-21T07:54:16","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=320248"},"modified":"2026-10-21T13:24:16","modified_gmt":"2026-10-21T07:54:16","slug":"water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/","title":{"rendered":"3 Water Treatment, Marine Construction and Power Cables Stocks With a Strong Future Roadmap: VA Tech Wabag, Cemindia Projects and KEI Industries"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>VA Tech Wabag, Cemindia Projects and KEI Industries: ROE of 13.8% to 24.9% and FY22 to FY26 revenue CAGR of 7.6% to 28.0%. Prices as of 20 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The three infrastructure contractor stocks to watch are VA Tech Wabag, Cemindia Projects and KEI Industries. Their return on equity ranges from 13.8% to 24.9%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.6% to 28.0%. Cemindia Projects has the highest return on equity at 24.9%, while Cemindia Projects has the fastest revenue growth at 28.0% a year. Prices are based on the 20 October 2026 close, and this article is educational, not investment advice.<\/p>\n<\/div>\n<p>Infrastructure contractor stocks bring together firms that build and equip the water, port and power systems the country is expanding. VA Tech Wabag, Cemindia Projects and KEI Industries cover water and wastewater treatment, marine and heavy civil construction, and power cables.<\/p>\n<p>This list covers three infrastructure contractor stocks with complete current figures: VA Tech Wabag, Cemindia Projects and KEI Industries. Every figure comes from the latest reported financials and the 20 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/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\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#What_Are_Infrastructure_Contractor_Stocks\" title=\"What Are Infrastructure Contractor Stocks?\">What Are Infrastructure Contractor Stocks?<\/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\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#Infrastructure_Contractor_Stocks_at_a_Glance\" title=\"Infrastructure Contractor Stocks at a Glance\">Infrastructure Contractor Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#Why_Do_Infrastructure_Contractor_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Infrastructure Contractor Stocks Have a Strong Roadmap in India?\">Why Do Infrastructure Contractor Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#Why_VA_Tech_Wabag_Features_Among_These_Infrastructure_Contractor_Stocks\" title=\"Why VA Tech Wabag Features Among These Infrastructure Contractor Stocks\">Why VA Tech Wabag Features Among These Infrastructure Contractor Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#Why_Cemindia_Projects_Features_Among_These_Infrastructure_Contractor_Stocks\" title=\"Why Cemindia Projects Features Among These Infrastructure Contractor Stocks\">Why Cemindia Projects Features Among These Infrastructure Contractor Stocks<\/a><\/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\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#Why_KEI_Industries_Features_Among_These_Infrastructure_Contractor_Stocks\" title=\"Why KEI Industries Features Among These Infrastructure Contractor Stocks\">Why KEI Industries Features Among These Infrastructure Contractor Stocks<\/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\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#VA_Tech_Wabag_vs_Cemindia_Projects_vs_KEI_Industries_on_Key_Financials\" title=\"VA Tech Wabag vs Cemindia Projects vs KEI Industries on Key Financials\">VA Tech Wabag vs Cemindia Projects vs KEI Industries on Key Financials<\/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\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#Key_Risks_to_Check_Before_Investing_in_Infrastructure_Contractor_Stocks\" title=\"Key Risks to Check Before Investing in Infrastructure Contractor Stocks\">Key Risks to Check Before Investing in Infrastructure Contractor Stocks<\/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\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#Final_Thoughts_on_Infrastructure_Contractor_Stocks\" title=\"Final Thoughts on Infrastructure Contractor Stocks\">Final Thoughts on Infrastructure Contractor Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#What_are_infrastructure_contractor_stocks\" title=\"What are infrastructure contractor stocks?\">What are infrastructure contractor stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#Which_infrastructure_contractor_stocks_are_covered_in_this_list\" title=\"Which infrastructure contractor stocks are covered in this list?\">Which infrastructure contractor stocks are covered in this list?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#Why_do_infrastructure_contractor_stocks_have_a_strong_future_roadmap_in_India\" title=\"Why do infrastructure contractor stocks have a strong future roadmap in India?\">Why do infrastructure contractor stocks have a strong future roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#How_has_VA_Tech_Wabag_performed_financially\" title=\"How has VA Tech Wabag performed financially?\">How has VA Tech Wabag performed financially?<\/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\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#How_has_Cemindia_Projects_performed_financially\" title=\"How has Cemindia Projects performed financially?\">How has Cemindia Projects performed financially?<\/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\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#How_has_KEI_Industries_performed_financially\" title=\"How has KEI Industries performed financially?\">How has KEI Industries performed financially?<\/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\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#What_risks_should_investors_check_before_buying_infrastructure_contractor_stocks\" title=\"What risks should investors check before buying infrastructure contractor stocks?\">What risks should investors check before buying infrastructure contractor stocks?<\/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\/water-treatment-marine-construction-and-power-cables-stocks-roadmap-catalyst-list\/#Is_this_list_of_infrastructure_contractor_stocks_investment_advice\" title=\"Is this list of infrastructure contractor stocks investment advice?\">Is this list of infrastructure contractor stocks investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Infrastructure_Contractor_Stocks\"><\/span><strong>What Are Infrastructure Contractor Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Infrastructure contractor stocks are listed companies that carry out civil works, build treatment plants or supply the cables and materials that complete a project. Their revenue builds up as projects progress, so order books are the main guide.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Infrastructure_Contractor_Stocks_at_a_Glance\"><\/span><strong>Infrastructure Contractor Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE (%)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">D\/E<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/wabag\/va-tech-wabag-ltd-share-price-today\">VA Tech Wabag<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,873.2<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11,717<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">29.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.4<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.09<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Cemindia Projects<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,168.8<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">20,093<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">33.4<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">24.9<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.38<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/kei\/kei-industries-ltd-share-price-today\">KEI Industries<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,442<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">42,514<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">42.6<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">45.1<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.8<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.04<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>On valuation, KEI Industries trades at a P\/E below the industry P\/E, while VA Tech Wabag and Cemindia Projects trade above it, which reflects the growth the market already expects. Readers comparing infrastructure contractor stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Infrastructure_Contractor_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Infrastructure Contractor Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Infrastructure contractor stocks have a strong roadmap in India because public programmes for water, ports and power continue to generate large multi-year work.<\/p>\n<ul>\n<li><strong>Water security.<\/strong> Drinking water, sewage and reuse schemes keep treatment orders flowing.<\/li>\n<li><strong>Port and marine work.<\/strong> Port capacity expansion needs specialised foundation and marine construction.<\/li>\n<li><strong>Power networks.<\/strong> Cables are needed for transmission, housing and industrial projects.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Why_VA_Tech_Wabag_Features_Among_These_Infrastructure_Contractor_Stocks\"><\/span><strong>Why VA Tech Wabag Features Among These Infrastructure Contractor Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the infrastructure contractor stocks on this list, VA Tech Wabag designs, builds and operates water and wastewater treatment plants, including desalination and recycling plants, for municipal and industrial customers in India and abroad.<\/p>\n<p>Revenue rose from Rs 3,012 crore in FY22 to Rs 4,038 crore in FY26, a compound annual growth rate of 7.6%. Net profit grew from Rs 132 crore in FY22 to Rs 370 crore in FY26, which works out to a compound annual growth rate of 29.4%.<\/p>\n<p>In the June 2026 quarter, revenue grew 26.0% year on year to Rs 939 crore, while net profit rose 36.9% to Rs 90.1 crore. The company has a return on equity of 14.4%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 11,717 crore. The stock trades at a P\/E of 29.7, above the industry P\/E of 22.7.<\/p>\n<p><strong>Roadmap:<\/strong> Government missions for drinking water supply and sewage treatment, along with industrial water reuse, feed a long project pipeline. Operation and maintenance contracts add recurring revenue, and international orders widen the customer base.<\/p>\n<p><strong>What to watch:<\/strong> Monitor the order book, the share of operation and maintenance contracts and working capital cycles on large projects.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Cemindia_Projects_Features_Among_These_Infrastructure_Contractor_Stocks\"><\/span><strong>Why Cemindia Projects Features Among These Infrastructure Contractor Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the infrastructure contractor shares on this list, Cemindia Projects, earlier known as ITD Cementation India, is a civil engineering and construction company that works on ports, marine structures, metros, hydro and nuclear power, airports and industrial projects.<\/p>\n<p>In the June 2026 quarter, revenue grew 5.2% year on year to Rs 2,731 crore, while net profit rose 2.6% to Rs 141 crore. Revenue rose from Rs 3,821 crore in FY22 to Rs 10,243 crore in FY26, a compound annual growth rate of 28.0%.<\/p>\n<p>Net profit grew from Rs 69.3 crore in FY22 to Rs 598 crore in FY26, which works out to a compound annual growth rate of 71.3%. The company has a return on equity of 24.9%, a debt to equity ratio of 0.38 and a market capitalisation of Rs 20,093 crore. The stock trades at a P\/E of 33.4, above the industry P\/E of 22.7.<\/p>\n<p><strong>Roadmap:<\/strong> The company has expertise in marine and foundation work and holds a strong order book across ports, metro rail and power. As a member of the Adani Group it gains access to large port and infrastructure projects.<\/p>\n<p><strong>What to watch:<\/strong> Check the order inflow from ports and metro projects and how fast the order book turns into revenue.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_KEI_Industries_Features_Among_These_Infrastructure_Contractor_Stocks\"><\/span><strong>Why KEI Industries Features Among These Infrastructure Contractor Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the three companies on this list, KEI Industries makes power cables, house wires, and extra high voltage cables, and also offers engineering, procurement and construction services for power projects.<\/p>\n<p>The company has a return on equity of 13.8%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 42,514 crore. The stock trades at a P\/E of 42.6, below the industry P\/E of 45.1.<\/p>\n<p>Revenue rose from Rs 5,742 crore in FY22 to Rs 11,906 crore in FY26, a compound annual growth rate of 20.0%. Net profit grew from Rs 376 crore in FY22 to Rs 918 crore in FY26, which works out to a compound annual growth rate of 25.0%. In the June 2026 quarter, revenue grew 21.9% year on year to Rs 3,205 crore, while net profit rose 40.0% to Rs 274 crore.<\/p>\n<p><strong>Roadmap:<\/strong> The company benefits from the demand for cables in power transmission, housing and industrial projects, and is expanding capacity to meet it. Rising exports and the shift to branded wires add further growth drivers.<\/p>\n<p><strong>What to watch:<\/strong> Check the capacity additions and the share of the retail business in revenue.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"VA_Tech_Wabag_vs_Cemindia_Projects_vs_KEI_Industries_on_Key_Financials\"><\/span><strong>VA Tech Wabag vs Cemindia Projects vs KEI Industries on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below sets the three infrastructure contractor stocks side by side on revenue, profit and margin, using reported figures.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY22 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Revenue CAGR (FY22-FY26)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Profit (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Margin<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">VA Tech Wabag<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3,012<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,038<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">7.6%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">370<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Cemindia Projects<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3,821<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10,243<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">28.0%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">598<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">KEI Industries<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5,742<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11,906<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">20.0%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">918<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">7.7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Cemindia Projects posts the highest return on equity in this group at 24.9%. KEI Industries has the largest FY26 revenue at Rs 11,906 crore, and Cemindia Projects shows the fastest revenue growth with a 28.0% compound annual rate. A useful habit with infrastructure contractor stocks is to check each new quarterly result against the capacity plans the company described earlier.<\/p>\n<p>The June 2026 quarter, the latest reported, gives a fresh read on momentum:<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Q1 FY26 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Q1 FY27 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Year-on-Year Growth<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">VA Tech Wabag<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">745<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">939<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">26.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Cemindia Projects<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,597<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,731<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">KEI Industries<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,630<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3,205<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21.9%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_to_Check_Before_Investing_in_Infrastructure_Contractor_Stocks\"><\/span><strong>Key Risks to Check Before Investing in Infrastructure Contractor Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Every theme carries risks that deserve a check before any decision. For these infrastructure contractor stocks, the main points are: Long-term infrastructure contractor shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.<\/p>\n<ul>\n<li><strong>Execution delays.<\/strong> Land, approvals and weather can slow project progress.<\/li>\n<li><strong>Working capital.<\/strong> Large projects can tie up cash until payments arrive.<\/li>\n<li><strong>Input costs.<\/strong> Cement, steel and copper prices affect margins.<\/li>\n<\/ul>\n<p>Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Use the Univest Stock Screener<\/a><\/strong> to filter infrastructure contractor stocks by market capitalisation, P\/E, ROE and growth, and build your own shortlist.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Thoughts_on_Infrastructure_Contractor_Stocks\"><\/span><strong>Final Thoughts on Infrastructure Contractor Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Infrastructure contractor stocks suit investors who read order books and cash collection alongside revenue. VA Tech Wabag, Cemindia Projects and KEI Industries each serve a different layer of the infrastructure chain. Based on the 20 October 2026 close, VA Tech Wabag trades at Rs 1,873.2, Cemindia Projects at Rs 1,168.8 and KEI Industries at Rs 4,442. Valuation matters as much as growth, so compare each company&#8217;s P\/E with its industry P\/E before adding any of these infrastructure contractor stocks to a watchlist.<\/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&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track infrastructure contractor stocks, set price alerts and get research-backed stock ideas.<\/em><\/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<h3><span class=\"ez-toc-section\" id=\"What_are_infrastructure_contractor_stocks\"><\/span><strong>What are infrastructure contractor stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Infrastructure contractor stocks are listed companies that carry out civil works, build treatment plants or supply the cables and materials that complete a project. Their revenue builds up as projects progress, so order books are the main guide. This list looks at three of them, VA Tech Wabag, Cemindia Projects and KEI Industries, using reported FY22 to FY26 financials and the 20 October 2026 closing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_infrastructure_contractor_stocks_are_covered_in_this_list\"><\/span><strong>Which infrastructure contractor stocks are covered in this list?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This list covers VA Tech Wabag, Cemindia Projects and KEI Industries. Based on the 20 October 2026 close, VA Tech Wabag traded at Rs 1,873.2, Cemindia Projects at Rs 1,168.8 and KEI Industries at Rs 4,442. Their return on equity ranges from 13.8% to 24.9%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.6% to 28.0%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_do_infrastructure_contractor_stocks_have_a_strong_future_roadmap_in_India\"><\/span><strong>Why do infrastructure contractor stocks have a strong future roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Infrastructure contractor stocks have a strong roadmap in India because public programmes for water, ports and power continue to generate large multi-year work. The main drivers are as follows. Water security. Drinking water, sewage and reuse schemes keep treatment orders flowing. Port and marine work. Port capacity expansion needs specialised foundation and marine construction. Power networks. Cables are needed for transmission, housing and industrial projects. Together these factors give the companies on this list a visible path for growth over the coming years.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_VA_Tech_Wabag_performed_financially\"><\/span><strong>How has VA Tech Wabag performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 3,012 crore in FY22 to Rs 4,038 crore in FY26, a compound annual growth rate of 7.6%. Net profit grew from Rs 132 crore in FY22 to Rs 370 crore in FY26, which works out to a compound annual growth rate of 29.4%. In the June 2026 quarter, revenue grew 26.0% year on year to Rs 939 crore, while net profit rose 36.9% to Rs 90.1 crore. The company has a return on equity of 14.4%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 11,717 crore. The stock trades at a P\/E of 29.7, above the industry P\/E of 22.7. Looking ahead, government missions for drinking water supply and sewage treatment, along with industrial water reuse, feed a long project pipeline. Operation and maintenance contracts add recurring revenue, and international orders widen the customer base.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Cemindia_Projects_performed_financially\"><\/span><strong>How has Cemindia Projects performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 3,821 crore in FY22 to Rs 10,243 crore in FY26, a compound annual growth rate of 28.0%. Net profit grew from Rs 69.3 crore in FY22 to Rs 598 crore in FY26, which works out to a compound annual growth rate of 71.3%. In the June 2026 quarter, revenue grew 5.2% year on year to Rs 2,731 crore, while net profit rose 2.6% to Rs 141 crore. The company has a return on equity of 24.9%, a debt to equity ratio of 0.38 and a market capitalisation of Rs 20,093 crore. The stock trades at a P\/E of 33.4, above the industry P\/E of 22.7. Looking ahead, the company has expertise in marine and foundation work and holds a strong order book across ports, metro rail and power. As a member of the Adani Group it gains access to large port and infrastructure projects.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_KEI_Industries_performed_financially\"><\/span><strong>How has KEI Industries performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 5,742 crore in FY22 to Rs 11,906 crore in FY26, a compound annual growth rate of 20.0%. Net profit grew from Rs 376 crore in FY22 to Rs 918 crore in FY26, which works out to a compound annual growth rate of 25.0%. In the June 2026 quarter, revenue grew 21.9% year on year to Rs 3,205 crore, while net profit rose 40.0% to Rs 274 crore. The company has a return on equity of 13.8%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 42,514 crore. The stock trades at a P\/E of 42.6, below the industry P\/E of 45.1. Looking ahead, the company benefits from the demand for cables in power transmission, housing and industrial projects, and is expanding capacity to meet it. Rising exports and the shift to branded wires add further growth drivers.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_risks_should_investors_check_before_buying_infrastructure_contractor_stocks\"><\/span><strong>What risks should investors check before buying infrastructure contractor stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Investors should check a few risks before buying infrastructure contractor stocks. Execution delays. Land, approvals and weather can slow project progress. Working capital. Large projects can tie up cash until payments arrive. Input costs. Cement, steel and copper prices affect margins. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_list_of_infrastructure_contractor_stocks_investment_advice\"><\/span><strong>Is this list of infrastructure contractor stocks investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. This article is educational and uses publicly available data as of the 20 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What are infrastructure contractor stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Infrastructure contractor stocks are listed companies that carry out civil works, build treatment plants or supply the cables and materials that complete a project. Their revenue builds up as projects progress, so order books are the main guide. This list looks at three of them, VA Tech Wabag, Cemindia Projects and KEI Industries, using reported FY22 to FY26 financials and the 20 October 2026 closing prices.\"}},{\"@type\":\"Question\",\"name\":\"Which infrastructure contractor stocks are covered in this list?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This list covers VA Tech Wabag, Cemindia Projects and KEI Industries. Based on the 20 October 2026 close, VA Tech Wabag traded at Rs 1,873.2, Cemindia Projects at Rs 1,168.8 and KEI Industries at Rs 4,442. Their return on equity ranges from 13.8% to 24.9%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.6% to 28.0%.\"}},{\"@type\":\"Question\",\"name\":\"Why do infrastructure contractor stocks have a strong future roadmap in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Infrastructure contractor stocks have a strong roadmap in India because public programmes for water, ports and power continue to generate large multi-year work. The main drivers are as follows. Water security. Drinking water, sewage and reuse schemes keep treatment orders flowing. Port and marine work. Port capacity expansion needs specialised foundation and marine construction. Power networks. Cables are needed for transmission, housing and industrial projects. Together these factors give the companies on this list a visible path for growth over the coming years.\"}},{\"@type\":\"Question\",\"name\":\"How has VA Tech Wabag performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 3,012 crore in FY22 to Rs 4,038 crore in FY26, a compound annual growth rate of 7.6%. Net profit grew from Rs 132 crore in FY22 to Rs 370 crore in FY26, which works out to a compound annual growth rate of 29.4%. In the June 2026 quarter, revenue grew 26.0% year on year to Rs 939 crore, while net profit rose 36.9% to Rs 90.1 crore. The company has a return on equity of 14.4%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 11,717 crore. The stock trades at a P\/E of 29.7, above the industry P\/E of 22.7. Looking ahead, government missions for drinking water supply and sewage treatment, along with industrial water reuse, feed a long project pipeline. 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Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Infrastructure Contractor Stocks with a strong future roadmap: VA Tech Wabag, Cemindia Projects and KEI Industries. Compare price, valuation, return on equity and revenue growth as of 20 October 2026.<\/p>\n","protected":false},"author":28,"featured_media":320246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[3803,5536,13925,13924,13923,730,5720],"class_list":["post-320248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-best-stocks","tag-cemindia-projects","tag-civil-and-utility-stocks","tag-infrastructure-contractor-shares","tag-infrastructure-contractor-stocks","tag-kei-industries","tag-va-tech-wabag"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["320246"],"rank_math_title":["Infrastructure Contractor Stocks With a Strong Roadmap"],"rank_math_description":["Compare 3 infrastructure contractor stocks with a strong future roadmap on CMP, market cap, P\/E, ROE and revenue growth. 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