HEC Infra ProjectsNSE:HECPROJECT +0.08%90 PB Ratio is 2.31 as of Jul. 05, 2026, which is 136% above its 10-year median of 0.98. GuruFocus rates NSE:HECPROJECT with a GF Score™ of 90/100 and a GF Value™ of ₹204.10 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,719 Construction companies, HEC Infra Projects ranks worse than 68.94% on this metric.
The historical rank and industry rank for HEC Infra Projects's PB Ratio or its related term are showing as below:
NSE:HECPROJECT'
s PB Ratio Range Over the Past 10 Years
Min: 0.68 Med: 0.98 Max: 4.71
Current: 2.31
During the past 12 years, HEC Infra Projects's highest PB Ratio was 4.71. The lowest was 0.68. And the median was 0.98.
NSE:HECPROJECT's PB Ratio is ranked worse than 68.94% of 1719
companies
in the Construction industry
Industry Median: 1.34
vs NSE:HECPROJECT: 2.31
During the past 12 months, HEC Infra Projects's average Book Value Per Share Growth Rate was 23.70% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 26.80% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 17.10% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 7.70% per year.
During the past 12 years, the highest 3-Year average Book Value Per Share Growth Rate of HEC Infra Projects was 26.80% per year. The lowest was 0.90% per year. And the median was 6.50% per year.
Back to Basics: PB Ratio
HEC Infra Projects (NSE:HECPROJECT) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
HEC Infra Projects PB Ratio Related Terms
HEC Infra Projects PB Ratio Historical Data
* Premium members only.
The historical data trend for HEC Infra Projects's PB Ratio 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.
NSE:HECPROJECT vs PWR, FIX, EME: PB Ratio Comparison
For the Engineering & Construction subindustry, HEC Infra Projects's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
HEC Infra Projects PB Ratio vs Construction Industry
For the Construction industry and Industrials sector, HEC Infra Projects's PB Ratio distribution charts can be found below:
* The bar in red indicates where HEC Infra Projects's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
HEC Infra Projects (NSE:HECPROJECT) has a PB Ratio of 2.31 as of Jul. 05, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on HEC Infra Projects and its competitors. This is 136% above median its historical median of 0.98. Over the past decade, HEC Infra Projects' PB Ratio has ranged from 0.68 to 4.71. According to the industry distribution chart, HEC Infra Projects ranks #1185 out of 1719 companies in the Construction industry, placing it in the top 68.9%.
Is HEC Infra Projects' PB Ratio too high?
HEC Infra Projects' current PB Ratio of 2.31 is 136% above median its 10-year median of 0.98. Over the past 10 years, this metric has ranged from a low of 0.68 to a high of 4.71. The Construction industry median PB Ratio is 1.34. HEC Infra Projects' value of 2.31 is 72.4% above this industry median. Based on the distribution chart, HEC Infra Projects ranks #1185 out of 1719 companies in the Construction industry, which is below the industry midpoint. Overall, HEC Infra Projects has a GF Score™ of 90/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does HEC Infra Projects' PB Ratio compare to PWR and FIX?
According to the Construction industry distribution chart, HEC Infra Projects ranks #1185 out of 1719 companies for PB Ratio. This places HEC Infra Projects in the lower half of its industry. The industry median PB Ratio is 1.34. HEC Infra Projects' value of 2.31 is 72.4% above this benchmark. Historically, HEC Infra Projects' own PB Ratio has ranged from 0.68 to 4.71 over the past decade. While the company's 10-year median is 0.98 vs. the industry median of 1.34, HEC Infra Projects has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Construction company?
The median PB Ratio among Construction companies is 1.34, based on 1,719 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. HEC Infra Projects's current PB Ratio of 2.31 is 72.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on HEC Infra Projects and its competitors. For the Construction industry, the median PB Ratio is 1.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HEC Infra Projects's current PB Ratio is 2.31, which is 136% above median its own 10-year median of 0.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HEC Infra Projects stock overvalued right now?
Based on GuruFocus' analysis, HEC Infra Projects (NSE:HECPROJECT) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹204.10, compared to a current price of ₹139.91 — trading 31.5% below its estimated fair value. The current PB Ratio is 2.31, which is 136% above median its 10-year median of 0.98 and 72.4% above the Construction industry median of 1.34. HEC Infra Projects' overall GF Score™ is 90/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For HEC Infra Projects (NSE:HECPROJECT), the current PB Ratio is 2.31 as of Jul. 05, 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 HEC Infra Projects (NSE:HECPROJECT) Overvalued in 2026?
Based on GuruFocus' analysis, HEC Infra Projects stock appears to be undervalued.
The current stock price of ₹139.91 is trading 31.5% below its estimated GF Value™ of ₹204.10.
GuruFocus considers HEC Infra Projects to be Significantly Undervalued.
Key valuation signals for NSE:HECPROJECT:
PB Ratio: 2.31 (136% above median its 10-year median of 0.98)
GF Value™: ₹204.10 vs. price of ₹139.91 (31.5% below fair value)
Industry Position: 72.4% above the Construction median (#1185 of 1719)
No single metric tells the full story. See the NSE:HECPROJECT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
HEC Infra Projects Ltd is an Engineering, Procurement and Construction Company Contractor in the Electro-Mechanical and Instrumentation Projects. The company services include switchyards; overhead transmission; substations, underground cable lying; Industrial and commercial electrification, battery energy storage system and mini / micro grid Solar projects water pumping stations; solar park; rooftop solar; indoor and outdoor lighting; security; fire alarm systems and others. It serves Steel, Chemical, Cement, Refineries, Petrochemicals, Gas and Oil Sector, Textile, Pharmaceuticals, Power-generation plants, Ports, Banks, Malls, Call Centers, Software Park; and other industries. It is engaged in the EPC Electro-Mechanical Project Business which is their only segment.
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