Franklin Build India Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Franklin Build India Fund Direct Growth Plan has a NAV of ₹164.9535 as of 03 Sep 2026 and a scheme AUM of ₹3,199 Cr. Its 1-year, 3-year and 5-year returns are 2.12%, 17.56% and 19.19%, and the fund sits in the High Risk category.

Our view is that this is a cyclical equity fund with a meaningful bias toward infrastructure and capital-intensive businesses. The longer record is more convincing than the latest year, but the recent stretch has been softer than the 3-year and 5-year pattern, so the fund looks better suited to investors who can tolerate sharp swings and want a portfolio that can move differently from the benchmark.

Quick facts

Particular	Details
NAV	₹164.9535 as of 03 Sep 2026
AUM	₹3,199 Cr
Expense Ratio	0.98%
Launch Date	01 Jan 2013
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 1Y
Fund Managers	Ajay Argal, Kiran Sebastian, Sandeep Manam

The fund is managed by Ajay Argal, Kiran Sebastian, and Sandeep Manam.

Source data date: as of 03 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.47%	-3.01%
3M	-0.31%	1.95%
1Y	2.12%	-4.4%
3Y	17.56%	5.74%
5Y	19.19%	6.27%

The recent picture is mixed. Over 1 month, the fund fell less than the benchmark, which suggests some cushion in a weak market. Over 3 months, however, the fund was slightly negative while the benchmark was positive, so the short run has not been uniformly strong.

The 1-year return is modest at 2.12%, and that is a very different story from the 3-year and 5-year figures. The fund’s longer periods are comfortably ahead of the benchmark, which points to stronger compounding over a fuller cycle even though the latest year has not matched that tone.

That pattern matters for interpretation. The 3-year and 5-year performance indicates the strategy has historically been able to create value beyond the benchmark, but the latest year shows that this is not a smooth or defensive path. For investors, the key question is whether they can sit through weaker patches in exchange for stronger longer-horizon results.

Source data date: as of 03 Sep 2026

Should you BUY or HOLD Franklin Build India?

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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Franklin Build India Fund Direct Growth Plan	2.12%	17.56%	19.19%
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	73.76%	36.82%	Data not available
SBI Automotive Opportunities Fund Direct Growth Plan	31.34%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	28.01%	Data not available	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	27.49%	Data not available	Data not available
Aditya Birla SL Mfg. Equity Fund Direct Growth Plan	26.54%	22.36%	15.89%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

On the latest 1-year figure, this fund trails the stronger peer numbers by a wide margin. The gap is visible even against peers that have unavailable longer histories, which shows that its most recent stretch has been far less energetic than the peer set available here.

The longer record is more competitive. Its 3-year return is below Aditya Birla SL Mfg. Equity Fund Direct Growth Plan but above the current fund’s benchmark-style backdrop, and its 5-year return is ahead of the peer for which that period is available. That means the peer comparison is mixed: the short run looks soft, while the longer run still supports the strategy’s ability to compound.

Source data date: as of 03 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Larsen & Toubro Ltd	Infrastructure	8.93%
Interglobe Aviation Ltd	Aviation	6.88%
Reliance Industries Ltd	Crude Oil	5.01%
NTPC Ltd	Power	4.99%
Call, Cash & Other Assets	Cash & Cash Equivalents and Net Assets	4.62%
Bharti Airtel Ltd	Telecom	4.38%
Oil & Natural Gas Corporation Ltd	Crude Oil	4.09%
HDFC Bank Ltd	Bank	4.03%
Axis Bank Ltd	Bank	3.84%
Tata Power Co Ltd	Power	3.69%

The top 10 holdings account for approximately 50.46% of the portfolio.

To see all holdings, visit the Franklin Build India Fund Direct Growth Plan page

The largest position, Larsen & Toubro Ltd, is 8.93% of the portfolio, so it is large enough to matter but not so dominant that it defines the entire scheme. The drop from the first holding to the tenth is gradual rather than abrupt, which suggests the portfolio is spread across several meaningful positions instead of resting on one outsized bet.

That said, the top 10 holdings together make up about half of the portfolio, so the fund still carries a noticeable concentration in a relatively small set of names. With 41 disclosed holdings overall, the remaining positions form a longer tail that may soften single-stock dependence, but the largest positions are still likely to have greater influence on returns and volatility.

The mix also shows a clear tilt toward infrastructure, aviation, power, telecom, banking and energy-linked businesses. That kind of exposure may help the fund participate strongly when these areas do well, but it can also make performance more uneven than a broad market index.

Source data date: as of 03 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk equity exposure and can stay invested for a longer horizon. The 3-year and 5-year returns suggest the strategy can reward patience, while the weaker 1-year result shows that short-term outcomes may lag even when the longer record is healthier.

It may suit someone who wants a differentiated portfolio rather than a plain market tracker, especially because the holdings lean toward infrastructure and other cyclical businesses. The main trade-off is clear: you give up consistency in the short run in exchange for the chance of stronger longer-term compounding if the underlying themes move in the fund’s favour.

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: 1% if units are sold on or before 1 year. No exit load applies after 1 year.

Source data date: as of 03 Sep 2026

Frequently asked questions

What is the current NAV of Franklin Build India Fund Direct Growth Plan?
The current NAV is ₹164.9535 as of 03 Sep 2026.

What are the 1-year, 3-year and 5-year returns?
Its returns are 2.12% for 1 year, 17.56% for 3 years and 19.19% for 5 years.

How has it performed versus the benchmark?
It has beaten Nifty 50 over 3 years and 5 years, while the 1-year result has been weaker than its longer record and the 3-month result has also been softer than the benchmark.

How does it compare with the peer funds listed here?
The 1-year return is lower than the peer figures shown here, while the 3-year and 5-year records are more competitive where those longer periods are available.

What is the minimum SIP amount?
The minimum SIP amount is ₹500.

Who manages the fund and what is the exit load?
The fund is managed by Ajay Argal, Kiran Sebastian and Sandeep Manam. The exit load is 1% if units are sold on or before 1 year, and there is no exit load after 1 year.

Bottom line

Franklin Build India Fund Direct Growth Plan has a stronger longer-term record than its latest 1-year result, and that split matters when assessing fit. It has outpaced the benchmark over 3 years and 5 years, but the recent year has been much less convincing. The portfolio leans toward infrastructure and other cyclical areas, so the fund may appeal to investors who want a concentrated, theme-led equity style and can tolerate uneven short-term outcomes.

Published on 4 September 2026 at 4:51 PM 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.