Rail Vikas Nigam vs Unitech vs Kesar India: Which Stock Should You Track

Rail Vikas Nigam vs Unitech vs Kesar India starts with the core numbers most investors compare within the infrastructure and real estate segment: market capitalisation, valuation multiples, profitability, dividend yield and the latest quarterly results. Figures below are sourced as of October 2026 and will shift with daily price moves.

All three names sit in the infrastructure and real estate bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses. The sections below cover the company profiles, a valuation table, the latest quarter and a five-quarter trend for revenue and net profit.

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Rail Vikas Nigam, Unitech and Kesar India: Company Overview

Rail Vikas Nigam is a listed Indian company in the infrastructure and real estate space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 41,023 crore, a return on equity of 8.91% and a book value of Rs 47.11 per share. Its quarterly revenue moved from Rs 4,136.96 crore in June 2025 to Rs 4,462.29 crore in June 2026, a change of +7.9%.

Unitech is a listed Indian company in the infrastructure and real estate space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 1,036 crore, a return on equity of NA and a negative book value of Rs 35.79 per share. Its quarterly revenue moved from Rs 117.14 crore in June 2025 to Rs 120.76 crore in June 2026, a change of +3.1%.

Kesar India is a listed Indian company in the infrastructure and real estate space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 3,595 crore, a return on equity of 11.99% and a book value of Rs 445.78 per share. Its quarterly revenue moved from Rs 14.69 crore in June 2025 to Rs 176.16 crore in June 2026, a change of +1099.2%.

Rail Vikas Nigam vs Unitech vs Kesar India: Valuation and Profitability Snapshot

Metric	Rail Vikas Nigam	Unitech	Kesar India
Market Cap (approx.)	Rs 41,023 crore	Rs 1,036 crore	Rs 3,595 crore
PE Ratio (TTM)	45.76	NA	76.84
PB Ratio	4.18	NA	2.48
Return on Equity (ROE)	8.91%	NA	11.99%
EPS (TTM, Rs)	4.30	-11.40	14.38
Dividend Yield	0.87%	0.00%	0.00%
Debt to Equity	0.49	NA	0.18
Book Value per Share (Rs)	47.11	-35.79	445.78

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On valuation, Rail Vikas Nigam trades at a PE of 45.76 and a PB of 4.18, Unitech at a PE of NA and a PB of NA, while Kesar India trades at a PE of 76.84 and a PB of 2.48. On return on equity, the three post 8.91%, NA and 11.99% respectively, and on dividend yield they stand at 0.87%, 0.00% and 0.00%. Rail Vikas Nigam has the highest market capitalisation of the three at Rs 41,023 crore, while Unitech has the lowest at Rs 1,036 crore. Kesar India has the highest PE ratio of the three at 76.84, while Rail Vikas Nigam has the lowest at 45.76. Kesar India has the highest return on equity of the three at 11.99%, while Rail Vikas Nigam has the lowest at 8.91%. Rail Vikas Nigam has the highest debt to equity ratio of the three at 0.49, while Kesar India has the lowest at 0.18. Debt to equity is 0.49, NA and 0.18 for the three respectively. An NA for return on equity or debt to equity means the ratio is not meaningful in the source data, for example because shareholders' equity is negative.

Rail Vikas Nigam vs Unitech vs Kesar India: Latest Quarterly Results

Company	Latest Quarter Revenue	Latest Quarter Net Profit	YoY Change (Revenue)	QoQ Change (Revenue)	YoY Change (Net Profit)
Rail Vikas Nigam	Rs 4,462.29 crore	Rs 159.52 crore	+7.9%	-34.2%	+18.7%
Unitech	Rs 120.76 crore	-Rs 702.84 crore	+3.1%	-16.9%	NA
Kesar India	Rs 176.16 crore	Rs 16.16 crore	+1099.2%	+101.2%	+5671.4%

Quarterly figures above are the most recent reported quarter for each company (Q1 FY27, quarter ended June 2026), compared with the year-ago and preceding quarter. A percentage change in net profit is shown as NA where the comparison quarter was a loss or the latest quarter is a loss, since the percentage is not meaningful in that case.

Rail Vikas Nigam vs Unitech vs Kesar India: Five-Quarter Revenue and Net Profit Trend

The five-quarter view below shows how revenue and net profit moved from June 2025 to June 2026 for each company in Rail Vikas Nigam vs Unitech vs Kesar India, which helps separate a one-quarter move from a steadier pattern.

Quarterly revenue (Rs crore)

Quarter	Rail Vikas Nigam	Unitech	Kesar India
June 2025	Rs 4,136.96 crore	Rs 117.14 crore	Rs 14.69 crore
September 2025	Rs 5,333.36 crore	Rs 151.01 crore	Rs 15.54 crore
December 2025	Rs 4,936.14 crore	Rs 153.33 crore	Rs 91.94 crore
March 2026	Rs 6,780.89 crore	Rs 145.32 crore	Rs 87.54 crore
June 2026	Rs 4,462.29 crore	Rs 120.76 crore	Rs 176.16 crore

Quarterly net profit (Rs crore)

Quarter	Rail Vikas Nigam	Unitech	Kesar India
June 2025	Rs 134.36 crore	-Rs 738.66 crore	Rs 0.28 crore
September 2025	Rs 230.52 crore	-Rs 738.72 crore	Rs 0.87 crore
December 2025	Rs 324.14 crore	-Rs 975.10 crore	Rs 15.39 crore
March 2026	Rs 181.66 crore	-Rs 565.67 crore	Rs 14.59 crore
June 2026	Rs 159.52 crore	-Rs 702.84 crore	Rs 16.16 crore

Rail Vikas Nigam reported revenue of Rs 4,136.96 crore in June 2025 and Rs 4,462.29 crore in June 2026, a change of +7.9% across the period. Its highest quarterly revenue in this window was Rs 6,780.89 crore in March 2026. Net profit stood at Rs 159.52 crore in June 2026, which is a net profit margin of 3.57%.

Unitech reported revenue of Rs 117.14 crore in June 2025 and Rs 120.76 crore in June 2026, a change of +3.1% across the period. Its highest quarterly revenue in this window was Rs 153.33 crore in December 2025. Net profit stood at -Rs 702.84 crore in June 2026, which is a net profit margin of -582.01% (a net loss for the quarter). Unitech reported a net loss in June 2025, September 2025, December 2025, March 2026 and June 2026.

Kesar India reported revenue of Rs 14.69 crore in June 2025 and Rs 176.16 crore in June 2026, a change of +1099.2% across the period. Its highest quarterly revenue in this window was Rs 176.16 crore in June 2026. Net profit stood at Rs 16.16 crore in June 2026, which is a net profit margin of 9.17%.

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What Should Investors Look at Beyond These Numbers?

Beyond the metrics above, investors comparing these three infrastructure and real estate names should track quarter-on-quarter revenue and margin trends, management commentary on demand and cost drivers, and factors specific to the segment such as order book size, project approvals, execution pace, government payment cycles and debt levels. A single-quarter snapshot can shift quickly, and smaller companies in particular can show wide swings from one quarter to the next.

It also helps to read the latest quarterly filings and investor presentations of Rail Vikas Nigam, Unitech and Kesar India directly, since the figures here come from standardised data and do not capture company-specific context such as one-time items, order timing or promoter actions.

Conclusion

Rail Vikas Nigam vs Unitech vs Kesar India highlights how differently three companies in the same infrastructure and real estate segment can look across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.

FAQs on Rail Vikas Nigam vs Unitech vs Kesar India

What is the market cap difference between Rail Vikas Nigam, Unitech and Kesar India?

Ans. As of October 2026, Rail Vikas Nigam has a market cap of approximately Rs 41,023 crore, Unitech is at approximately Rs 1,036 crore, and Kesar India is at approximately Rs 3,595 crore. Rail Vikas Nigam is the largest of the three, and its market capitalisation is about 39.6 times that of Unitech, the smallest. Market capitalisation reflects the size of a company in the market rather than the quality of its business, so a larger value does not by itself signal a higher quality company. These figures move with the share price every trading day, which is why the table above should be read as a snapshot rather than a fixed ranking in the Rail Vikas Nigam vs Unitech vs Kesar India comparison.

What are the PE and PB ratios of Rail Vikas Nigam, Unitech and Kesar India?

Ans. As of October 2026, the PE ratios stand at 45.76, NA and 76.84 respectively, and the price to book ratios stand at 4.18, NA and 2.48 respectively. A PE of NA for Unitech means trailing twelve month earnings were negative or not available, so the multiple cannot be read in the usual way. The PE ratio shows how much investors pay for each rupee of trailing earnings, while the PB ratio compares the market value with the net assets on the balance sheet. Both multiples should be read against the segment norms for infrastructure and real estate and against each company's own growth and earnings stability, because a high multiple can reflect expected growth or simply a small earnings base.

Which of the three has the highest ROE?

Ans. Rail Vikas Nigam, Unitech and Kesar India post ROE of 8.91%, NA and 11.99% respectively as of October 2026. Kesar India has the highest return on equity of the three at 11.99%, while Rail Vikas Nigam has the lowest at 8.91%. An NA reading means the ratio is not meaningful in the source data, for example because shareholders' equity is negative. Return on equity measures how much profit a company generates on the capital contributed by its shareholders, so it is a useful gauge of how efficiently equity is being used. A negative ROE points to losses over the period, and a very high ROE can sometimes result from a small equity base rather than operating performance. It is therefore worth reading ROE together with debt levels and the five-quarter profit trend before drawing any conclusion from the Rail Vikas Nigam vs Unitech vs Kesar India figures.

Which of these three stocks pays the highest dividend yield?

Ans. Rail Vikas Nigam, Unitech and Kesar India carry dividend yields of 0.87%, 0.00% and 0.00% respectively as of October 2026. Dividend yield is the annual dividend per share expressed as a percentage of the current share price, so it changes whenever the price changes. A low or zero yield is common among companies that retain profits to fund expansion, repay debt or absorb losses, and it does not by itself say anything about business quality. Investors who care about income should also check how consistently each company has paid dividends and what share of profit it distributes.

What is the debt to equity ratio for Rail Vikas Nigam, Unitech and Kesar India?

Ans. Rail Vikas Nigam carries a debt to equity of 0.49, Unitech of NA, and Kesar India of 0.18. Rail Vikas Nigam has the highest debt to equity ratio of the three at 0.49, while Kesar India has the lowest at 0.18. An NA reading means the ratio is not meaningful in the source data, for example because shareholders' equity is negative. The debt to equity ratio compares total borrowings with shareholders' funds, and a higher figure means the company relies more on borrowed money to run its business. What counts as a comfortable level differs by segment, since some businesses in infrastructure and real estate need heavy capital and carry more debt than others. Investors usually read this ratio alongside interest costs and cash generation to judge how well each company can service its borrowings in the Rail Vikas Nigam vs Unitech vs Kesar India comparison.

What were the latest quarterly revenue and net profit of Rail Vikas Nigam, Unitech and Kesar India?

Ans. For Q1 FY27 (quarter ended June 2026), Rail Vikas Nigam reported revenue of Rs 4,462.29 crore and net profit of Rs 159.52 crore, Unitech reported revenue of Rs 120.76 crore and net profit of -Rs 702.84 crore, and Kesar India reported revenue of Rs 176.16 crore and net profit of Rs 16.16 crore. Compared with the quarter ended June 2025, revenue changed by +7.9% for Rail Vikas Nigam, +3.1% for Unitech and +1099.2% for Kesar India. A single quarter can be affected by seasonality, one-time items and the timing of orders, so the five-quarter tables above give a clearer sense of direction than any one result. A net loss in a quarter does not always mean a troubled business, but it does call for a closer look at costs, debt and the reasons behind the swing in the Rail Vikas Nigam vs Unitech vs Kesar India results.

Does this comparison recommend one of Rail Vikas Nigam, Unitech and Kesar India?

Ans. This comparison does not declare one stock ahead of another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor's own criteria and research. Instead of a verdict, the tables above lay out the figures so that readers can weigh them against their own goals, time horizon and tolerance for risk. For companies in infrastructure and real estate, it also helps to look at factors such as order book size, project approvals, execution pace, government payment cycles and debt levels. Reading the latest filings and investor presentations of Rail Vikas Nigam, Unitech and Kesar India directly, and speaking to a SEBI registered adviser where needed, is a sensible step before acting on any numbers shown in Rail Vikas Nigam vs Unitech vs Kesar India.