This fiscal year, diverse engineering, procurement, and construction (EPC) firms are expected to see a 12–14 percent increase in income due to robust order books that include both domestic and foreign contracts, as well as a stable pace of execution in the infrastructure sector.

That comes after five fiscal years of 10 per cent yearly growth through 2024. According to a CRISIL Ratings report, there were 13 big and 162 small and mid-sized diversified EPC companies.

Their estimated total revenue for the previous fiscal year was Rs.3.5 trillion, which accounts for one-third of all construction spending in India.

Also, investments in India’s key infrastructure sectors, renewable energy, roads and real estate are expected to grow by 38 percent in FY’25 and FY’26.

The surge will ride on India’s need for creation of sustainable infrastructure by adding more green power to the energy mix.

According to CRISIL, the key growth driver for renewables is demand for sustainable energy transition.

The government’s target is driving up auctions and India saw auctions of 35 GW in fiscal 2024, the highest ever in a single fiscal, resulting in a strong pipeline of 75 GW.