India’s road infrastructure space may have hit a speed bump in Q2FY26, but Axis Securities believes the non-road infra segment is cruising on a stronger growth trajectory. In its latest sector review, the brokerage reiterated a positive stance on non-road infrastructure companies, backed by healthy order books and sustained government capex. Its top picks: KEC International, Kalpataru Projects International (KPIL) and Ahluwalia Contracts. Advertisement

Axis Securities noted that road infra players delivered a weak quarter, missing estimates sharply. “Road infrastructure companies under our coverage reported revenue and EBITDA declines of 13 per cent/17 per cent, respectively, against our expectation of 9 per cent/1 per cent,” the brokerage said, attributing the miss to slow execution, de

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