Suntech Infra Solutions Ltd Management Discussions

Global & Indian Economic Environment

The global economy is navigating a period of cautious optimism. While advanced economies continue to face headwinds from inflationary pressures, geopolitical tensions, and tight monetary conditions, emerging markets have shown resilience. According to the International Monetary Fund (IMF), global GDP is projected to grow by around 3.2% in 2025, with growth remaining uneven across regions.

India has emerged as the worlds fastest-growing major economy, supported by a combination of robust domestic demand, government-led infrastructure spending, and structural reforms. The IMF projects Indias GDP to expand by 6.4% in both 2025 and 2026, while the Reserve Bank of India (RBI) forecasts growth of 6.5% for FY2025-26. Rural consumption is reviving after two years of subdued demand, while urban India continues to drive spending in services and construction. The governments commitment to capital expenditure, especially in infrastructure and energy transition projects, remains a critical driver of growth.

The infrastructure sector, in particular, is witnessing significant momentum. The National Infrastructure Pipeline (NIP), which earmarks investments of over fill lakh crore (US$1.4 trillion) for 2020-2025, and the Pradhan Mantri Gati Shakti Master Plan, valued at US$1.2 trillion, have set the stage for long-term, sustainable growth across logistics, energy, transportation, and industrial ecosystems. These initiatives have created substantial opportunities for companies in the civil construction space, especially those with proven execution capabilities and asset- backed operations.

Industry Landscape

The Indian construction sector is one of the largest contributors to the national economy, accounting for nearly 9% of GDP and employing over 50 million people. Within this, civil and structural construction forms the backbone of industrial and infrastructure development. The sector benefits from rising private participation in core industries like oil & gas, cement, steel, and fertilizers, alongside continued public sector investments in metro rail, highways, irrigation, and power projects.

A notable trend shaping the industry is the growing preference for contractors with integrated capabilities-those who can combine engineering expertise with access to modern equipment and efficient project management. Additionally, the equipment rental market has gained traction, offering clients flexibility and cost efficiency while enabling construction firms to monetize underutilized assets.

This evolving landscape plays directly to Suntech Infras strengths, positioning the company as a reliable partner for both private and government-led infrastructure projects.

Company Overview & Business Model

Suntech Infra operates as a business-to-business (B2B) construction company, providing a wide range of civil construction services with a particular focus on foundation works, structural works, and construction equipment rental. The company executes projects under both direct contracting and sub-contracting models, ensuring a diversified revenue base and strong client relationships.

The companys services cater to critical industrial sectors such as refineries, power, process plants, petrochemicals, cement, steel, and fertilizers, while also expanding into metro, port, irrigation, and urban infrastructure projects. A unique differentiator for Suntech is its ownership of a modern fleet of construction equipment, which enhances execution reliability, reduces downtime, and provides cost control. Additionally, the equipment is offered on a rental basis, creating a steady, asset-backed revenue stream.

Suntechs project pipeline is built on two strong foundations: tender-based bidding, which ensures competitive market participation, and relationship-driven direct negotiations, which provide continuity of work with long-standing clients. This dual approach has enabled the company to secure projects of significant scale and complexity, reflecting the trust reposed by clients in its technical capabilities and governance standards.

Business Highlights & Key Projects

The companys operational scale and portfolio diversity are reflected in its current order book and ongoing project base:

Metric	Value (in crores)
Ongoing Projects	353.64
Current Orderbook- Civil Construction	182.36
Current Orderbook- Equipment Rental	6.5

Notably, the company has successfully executed large-scale assignments in oil /* 1 refineries, petrochemical complexes, and landmark urban projects like the J!*u Delhi Metro Rail Corporation (DMRC) and ATC Tower. These achievements highlight Suntech Infras ability to operate across both industrial and urban of M infrastructure domains, with equal efficiency and quality assurance.

Governance, People & Leadership

Suntech Infras governance philosophy is anchored in transparency, accountability, and ethical business practices. The company is led by its promoters, Mr. Gaurav Gupta (Managing Director) and Mr. Parveen Kumar Gupta, who bring deep industry expertise and a vision to expand the companys presence in high-growth infrastructure segments.

Governance mechanisms are complemented by a robust operating structure, with well-defined responsibilities and internal controls to ensure financial discipline and risk management. The company maintains a strong compliance culture, adhering to industry best practices in safety, quality, and environmental sustainability.

Equally important are the people who form the backbone of Suntechs execution strength. The company has cultivated a skilled and motivated workforce, supported by continuous training in safety, operations, and project management. Employee welfare remains a priority, with initiatives designed to enhance engagement, retention, and productivity. This people-first approach ensures that Suntech delivers not just on project milestones, but also on long-term client satisfaction.

Outlook

The outlook for Suntech Infra remains highly positive, underpinned by a strong macroeconomic backdrop and a growing demand for quality infrastructure in India. With an asset-backed execution model, a healthy order pipeline, and a diversified sectoral presence, the company is strategically positioned to capitalize on emerging opportunities under NIP and Gati Shakti.

Going forward, Suntech Infra intends to strengthen its presence in high-growth areas such as process plants, port infrastructure, and renewable-linked civil works, while continuing to deepen its footprint in core industrial and metro projects. By combining disciplined execution with governance-led growth and a focus on human capital, Suntech Infra aims to create sustainable long-term value for its stakeholders.