HDFC Securities has assigned a target price of Rs 4,243 (9.2% upside). The company’s consolidated order pipeline for the remainder of FY26 stands at around Rs 14.8 lakh crore, including an infrastructure segment pipeline of Rs 8 lakh crore. Major projects span energy, infrastructure, heavy civil, renewables, water, defence, and international hydrocarbons. Management expects 10% growth in order intake and 15% revenue growth for FY26, reflecting strong execution potential. The order book remains robust at Rs 6.1 lakh crore as of June 2025, with 54% sourced from domestic markets and 46% from international markets.
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