Construction Sector Revenues to Grow 12-15% by FY25: ICRA

06 May 2024 CW Team

According to ICRA, entities in the construction sector are poised to experience a significant revenue growth of 12-15% by the fiscal year 2025. This optimistic projection reflects the sector's potential for expansion and recovery in the coming years.

The forecasted revenue growth underscores the construction sector's resilience and adaptability, despite facing challenges such as the COVID-19 pandemic and economic uncertainties. The sector's ability to rebound and achieve double-digit revenue growth indicates its fundamental strength and vitality.

ICRA's projection is based on various factors, including increased government spending on infrastructure projects, rising demand for residential and commercial real estate, and the gradual recovery of the economy. These factors are expected to drive growth across the construction sector value chain.

The anticipated revenue growth presents opportunities for construction companies to capitalise on emerging trends and market dynamics. By leveraging technological innovations, adopting sustainable practices, and enhancing project execution capabilities, entities in the construction sector can position themselves for success in a competitive environment.

The positive outlook for the construction sector aligns with broader efforts to stimulate economic growth and infrastructure development in India. As the government continues to prioritise investment in key sectors such as transportation, housing, and urban infrastructure, the construction industry is poised to play a crucial role in driving economic recovery and job creation.

Overall, ICRA's forecast of 12-15% revenue growth for the construction sector by FY25 reflects confidence in its long-term prospects and underscores its potential to contribute to India's economic resurgence.

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