RPP Infra Projects Limited (NSE: RPPINFRA, BSE: 540566) is a mid-cap Indian infrastructure company. The company is specialising in construction, power transmission, irrigation and renewable energy projects.
It is expected the rapid growth under initiatives such as the National Infrastructure Pipeline (NIP) and Smart Cities Mission, RPP Infra is strategically positioned to take advantage of these opportunities.
RPP Infra Share Price Today
| Stock | Symbol | Price | Chart (24H) |
|---|---|---|---|
 R.P.P INFRA PROJECTS LTD. RPPINFRA.NS | RPPINFRA.NS | ₹ 141.75 |
This article analyses the company’s growth factors, financial position and share price targets for 2026-2035.
Company Overview
Founded in 1995, RPP Infra operates in three sectors:
- Construction: roads, buildings and irrigation.
- Power: transmission lines and substations.
- Renewables: solar and wind power projects.
The company has a strong presence in Southern India and has recently expanded into Maharashtra and Gujarat. As of Q2 2024, its order book is ₹3,800 crore, of which 45% is from government contracts.
Growth Drivers
NIP’s $1.4 trillion investment target by 2025 and focus on renewable energy (500 GW capacity by 2030) and urban development.
- Order book momentum: Recent wins include a ₹650 crore solar project and a ₹520 crore highway contract.
- Margin improvement: Operational efficiency and cost rationalisation improved EBITDA margin to 10% in FY24.
- Debt management: Debt-to-equity ratio reduced to 0.8x in 2023 from 1.2x in 2021.
Financial Performance (FY23)
- Revenue: ₹1,250 crore (+18% YoY). Net Profit: ₹98 crore (+22% YoY).
- EPS: ₹15.2 (up from ₹12.5 in FY22).
- ROCE: 14% (industry average: 12%).
- RPP Infra Share Price Target: Key Assumptions
- Revenue Growth: 15% CAGR by 2028, moderating to 10% by 2035.
- Margins: EBITDA margins to stabilise at 11-12% after 2025.
- P/E Multiple: 20-25x (vs industry average of 22x), reflecting scale and sector tailwinds.
- Macro Factors: Stable GDP growth (6-7%), policy continuity and sub-5% inflation.
- RPP Infra Share Price Target Estimates
2026 Target: ₹550–600
- Sources: Execution of current order book, margin expansion.
- EPS Estimate: ₹26 (15% CAGR from FY23).
- Valuation: 22x P/E (₹26 × 22 = ₹572).
2028 Target: ₹800–850
- Sources: Entry into international markets, renewable energy dominance.
- EPS Estimate: ₹33 (12% CAGR).
- Valuation: 24 x P/E (₹33 × 24 = ₹792).
2030 Target: ₹1,100–1,200
- Sources: Diversification into smart cities, EV infrastructure.
- EPS estimate: ₹44 (10% CAGR).
- Valuation: 25x P/E (₹44 × 25 = ₹1,100).
2032 Target: ₹1,350–1,450
- Sources: Stable cash flows, low leverage.
- EPS estimate: ₹55 (8% CAGR).
- Valuation: 25x P/E (₹55 × 25 = ₹1,375).
2035 Target: ₹1,700–1,800
- Sources: Long-term contracts, global partnerships.
- EPS estimate: ₹70 (6% CAGR).
- Valuation: 25x P/E (₹70 × 25 = ₹1,750).
Risks
- Regulatory delays: land acquisition and environmental clearances.
- Competition: Pressure from giants like L&T and KNR Construction.
- Commodity prices: Volatility in steel and cement prices.
- Global slowdown: Impact on funding and demand.
Conclusion
RPP Infra’s focus on high-margin areas like renewable energy and prudent debt management positions it as an attractive mid-cap in India’s infrastructure boom. The short-term volatility is expected, the long-term outlook remains strong. So conservative investors may wait for dips below ₹450 to accumulate.
Disclaimer: This analysis is for informational purposes only. Market risks apply; consult a financial advisor before investing.
