Mahanagar Gas (NSE:MGL) Construction In Progress: ₹12,695 Mil (As of Mar. 2026)


NSE:MGL Mahanagar Gas Ltd NSE:MGL
97 GF Score
Price ₹1,174.60
GF Value ₹1,552.96
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Mahanagar Gas Construction In Progress?

Mahanagar Gas NSE:MGL -1.79% 97 Construction In Progress is ₹12,695 Mil as of Mar. 2026. GuruFocus rates NSE:MGL with a GF Score™ of 97/100 and a GF Value™ of ₹1,552.96 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Mahanagar Gas's quarterly construction in progress declined from Sep. 2025 (₹11,715 Mil) to Dec. 2025 (₹0 Mil) but then increased from Dec. 2025 (₹0 Mil) to Mar. 2026 (₹12,695 Mil).

Mahanagar Gas's annual construction in progress increased from Mar. 2024 (₹8,459 Mil) to Mar. 2025 (₹11,506 Mil) and increased from Mar. 2025 (₹11,506 Mil) to Mar. 2026 (₹12,695 Mil).

Mahanagar Gas Construction In Progress Historical Data

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The historical data trend for Mahanagar Gas's Construction In Progress can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Mahanagar Gas Construction In Progress Chart

Mahanagar Gas Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Construction In Progress
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6,425.50 7,346.60 8,459.10 11,506.40 12,695.20

Mahanagar Gas Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Construction In Progress Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 11,506.40 0.00 11,715.00 0.00 12,695.20
NSE:MGL
97GF Score
Mahanagar Gas Ltd NSE:MGL
Construction In Progress is just one metric. See GF Score™, valuation, warning signs, and more.
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Mahanagar Gas Construction In Progress Calculation

It records the cost of construction work, which is not yet completed (typically, applied to capital budget items). A construction in progress item is not depreciated until the asset is placed in service. Normally, upon completion, a construction in progress item is reclassified, and the reclassified asset is capitalized and depreciated.

What does a Construction In Progress of ₹12,695 Mil mean?
Mahanagar Gas (NSE:MGL) has a Construction In Progress of ₹12,695 Mil as of Mar. 2026. Construction in Progress records the amount of construction work that is not complete. View historical data on Mahanagar Gas and its competitors.
Is Mahanagar Gas' Construction In Progress too high?
Mahanagar Gas' current Construction In Progress is ₹12,695 Mil. Overall, Mahanagar Gas has a GF Score™ of 97/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Mahanagar Gas' Construction In Progress compare to ATO and NI?
Mahanagar Gas' Construction In Progress of ₹12,695 Mil can be compared against companies in the Utilities - Regulated industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Construction In Progress for an Utilities - Regulated company?
A good Construction In Progress depends on the Utilities - Regulated industry context. However, Construction In Progress should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Construction In Progress mean?
A high Construction In Progress can signal that a stock is expensive relative to its fundamentals. Construction in Progress records the amount of construction work that is not complete. View historical data on Mahanagar Gas and its competitors. Mahanagar Gas's current Construction In Progress is ₹12,695 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mahanagar Gas stock overvalued right now?
Based on GuruFocus' analysis, Mahanagar Gas (NSE:MGL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹1,552.96, compared to a current price of ₹1,174.60 — trading 24.4% below its estimated fair value. The current Construction In Progress is ₹12,695 Mil. Mahanagar Gas' overall GF Score™ is 97/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Construction In Progress calculated?
Construction In Progress is calculated from a company's financial statements. For Mahanagar Gas (NSE:MGL), the current Construction In Progress is ₹12,695 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Mahanagar Gas (NSE:MGL) Overvalued in 2026?

Based on GuruFocus' analysis, Mahanagar Gas stock appears to be undervalued. The current stock price of ₹1,174.60 is trading 24.4% below its estimated GF Value™ of ₹1,552.96. GuruFocus considers Mahanagar Gas to be Modestly Undervalued.

Key valuation signals for NSE:MGL:

  • Construction In Progress: ₹12,695 Mil
  • GF Value™: ₹1,552.96 vs. price of ₹1,174.60 (24.4% below fair value)
  • GF Score™: 97/100 with 5 warning signs

No single metric tells the full story. See the NSE:MGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Mahanagar Gas Business Description

Other Exchanges 539957:India
Address Block No. G-33, Bandra-Kurla Complex, MGL House, Bandra (East), Mumbai, MH, IND, 400051
Mahanagar Gas Ltd is an India-based natural gas distribution company. It distributes natural gas through the City Gas Distribution network of pipelines. It distributes compressed natural gas (CNG) for use in vehicles and piped natural gas (PNG) for domestic household, commercial, and industrial use, and to transport sector customers as well. The company operates under the business segment of the sale of natural gas. Its business operations are principally carried out in India. The company generates revenue by selling natural gas, of which the sale of CNG accounts majorly for the total gas sales revenue.
97GF Score

Get the complete analysis for NSE:MGL

Construction In Progress is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹1,174.60
Price
₹1,552.96
GF Value