Technocraft Ventures IPO

Technocraft Ventures Limited IPO Strengths 

Diversified EPC Capabilities 

Technocraft Ventures Limited has strong engineering, procurement, and construction (EPC) capabilities across multiple infrastructure sectors, including water supply, sewerage networks, and power systems. The company provides end-to-end project delivery, from engineering design to commissioning. This diversification allows it to undertake complex projects under major government schemes like Namami Gange and Jal Jeevan Mission. 

Execution Capabilities and Financial Growth 

The company demonstrates its execution capabilities through its successful completion of high-value government and multilateral projects. Its proficiency in managing large-scale, technically complex projects is reflected in its robust financial performance, with consistent growth in revenue, EBITDA, and Profit After Tax over the past three fiscal years, showcasing a strong track record of operational and financial success. 

In-House Engineering and Technological Adaptation 

The company’s in-house engineering team of 76 professionals provides a strong foundation for its project execution. This team integrates advanced technologies, such as micro-tunnelling and trenchless pipeline installation, to minimize disruption in urban areas. The use of digital tools and engineering software enhances precision, efficiency, and timely delivery of technically complex projects, showcasing a commitment to innovation. 

Consistent Revenue Growth and Strengthening Profitability 

Technocraft Ventures has shown consistent growth in revenue and profitability over the last three financial years. Revenue from operations grew from ₹1,786.91 million in FY 2023 to ₹2,795.64 million in FY 2025, a CAGR of approximately 16.09%. Profit After Tax (PAT) also increased significantly, reflecting the company’s ability to scale operations efficiently while improving its bottom line. 

Regulatory-Approved Electrical Works Capabilities 

The company holds ‘Class A’ Electrical Contractor’s Licenses from the Electrical Inspectorate Department of Rajasthan and Uttarakhand, which are among the highest certifications for executing high-tension (HT) and extra high-tension (EHT) electrical projects. These licenses allow the company to independently undertake critical electrical infrastructure works, such as substations and transmission lines, diversifying its revenue streams. 

Promoter-Led Business 

Technocraft Ventures is led by its Managing Director, Mr. Sanjay Tyagi, who has over 35 years of experience in the infrastructure sector. His extensive background in government contracting and public works has been crucial in expanding the company’s operational footprint and securing mandates under major government schemes. This promoter-led structure ensures strong execution capabilities and industry expertise. 

Robust Order Book 

As of June 30, 2025, Technocraft Ventures has a robust order book with 14 projects and 5 O&M projects, totaling ₹6,656.44 million and ₹201.60 million, respectively. This consistent growth in the order book is a testament to the company’s ability to successfully bid for and win new projects. The company’s strong reputation for quality and timely delivery has contributed to its continued success. 

More About Technocraft Ventures Limited 

Technocraft Ventures Limited is a multidisciplinary public infrastructure development company specialising in turnkey Engineering, Procurement, and Construction (EPC) projects. The company operates across multiple infrastructure segments, including wastewater treatment, operation and maintenance of public utilities, water supply schemes, electrical transmission and distribution networks, substation construction, road and highway works, micro-tunnelling, and urban development. Its projects are primarily executed for state governments and government agencies across northern India, including Uttar Pradesh, Uttarakhand, Rajasthan, and the National Capital Territory of Delhi. 

Project Execution and Operations 

• Tender-Based Model: Technocraft executes projects mostly under tender-based contracts awarded by state agencies, public works departments, urban local bodies, and other government entities. 

• Dedicated Site Teams: The company maintains strong on-ground presence through dedicated teams aligned with each project’s geographical and technical requirements. 

History and Milestones 

Incorporated in 1998, Technocraft began operations in Uttar Pradesh with residential and road construction projects. Initial work on planned housing colonies, sector-level layouts, and road strengthening under PWD and National Highways programs laid the foundation for diversification into water, wastewater, and public utility infrastructure. 

Key achievements include: 

• 2007: Annual turnover exceeded ₹450 million. 

• 2009: Entered wastewater treatment via a strategic partnership with M/s Ultratech Engineers. 

• 2012–2013: Diversified into power distribution, securing contracts valued at ₹891.4 million and annual turnover crossing ₹1,000 million. 

• 2016: Acquired Ultratech Engineers’ ongoing business, enhancing wastewater treatment capabilities. 

• 2017: Entered multilateral-funded projects with an ADB-funded sewerage project in Udaipur. 

• 2023–2025: Annual turnover reached over ₹2,700 million, with awards in AMRUT 2.0 and PWD road projects. 

Core Services 

Water & Wastewater Infrastructure 

• EPC of water supply schemes, sewerage networks, STPs/WWTPs, reservoirs, and transmission mains 

• Long-term O&M of STPs, WSSPs, and sewer networks 

Roads and Highways 

• EPC of road and highway projects 

Urban Infrastructure 

• Sector-level planning and residential buildings 

Power Distribution 

• Electrification schemes, substations, transmission lines 

Trenchless & Micro-Tunnelling Works 

• Pipeline installation in high-density zones with minimal surface disruption 

Leadership 

Under Managing Director Mr. Sanjay Tyagi, who joined in 2007, Technocraft strategically diversified into specialised EPC segments, strengthened technical capabilities, and expanded operations across complex government and multilateral-funded projects, ensuring high standards of project execution and long-term sustainability. 

Industry Outlook 

The Indian infrastructure sector is poised for robust growth, driven by substantial government investments and strategic initiatives aimed at enhancing connectivity, urban development, and sustainability. The sector encompasses various domains, including road construction, wastewater treatment, power distribution, and urban infrastructure development. 

Key Market Segments 

Roads and Highways 

• Market Size & Growth: Valued at USD 152.19 billion in 2024, the road construction market is projected to reach USD 341.31 billion by 2033, reflecting a CAGR of 10.20% . 

• Government Initiatives: The Bharatmala Pariyojana program aims to construct 83,677 kilometers of roads by 2025, addressing critical connectivity gaps and promoting regional economic growth . 

Water and Wastewater Treatment 

• Market Size & Growth: The wastewater treatment market was valued at USD 5.141 billion in 2022, with expectations of continued growth driven by urbanization and industrialization . 

• Regulatory Support: Government-backed programs emphasize wastewater treatment, sewage management, and the rejuvenation of water bodies, further supporting market expansion . 

Power Distribution 

• Market Dynamics: The power distribution sector is experiencing significant investments to enhance grid infrastructure and meet the growing energy demands of urban and rural areas. 

• Future Outlook: Continued investments in renewable energy sources and smart grid technologies are expected to drive the sector’s growth. 

Urban Infrastructure 

• Market Trends: There’s a growing emphasis on sustainable urban development, with investments in smart cities, public transportation, and green building initiatives. 

• Growth Drivers: Urbanization, increased disposable incomes, and government policies promoting sustainable development are key factors propelling this segment. 

Growth Drivers 

• Government Investments: Substantial allocations in national budgets for infrastructure development. 

• Urbanization: Rapid urban growth necessitating enhanced infrastructure. 

• Private Sector Participation: Increased involvement through public-private partnerships. 

• Technological Advancements: Adoption of smart infrastructure solutions and sustainable practices. 

How Will Technocraft Ventures Limited Benefit 

• Technocraft Ventures Limited can leverage the expanding road construction market, securing large-scale EPC contracts under programs like Bharatmala Pariyojana. 

• Growth in wastewater treatment and government-backed urban water projects offers opportunities for new contracts and long-term O&M engagements. 

• Increasing power distribution investments allow the company to expand its electrification and substation projects, particularly in northern India. 

• The focus on urban infrastructure and smart city initiatives enables Technocraft to undertake sector-level planning and residential development projects. 

• Rising government funding and public-private partnership models provide a stable pipeline of tender-based projects, ensuring consistent revenue streams. 

• Adoption of technological advancements and sustainable infrastructure practices aligns with the company’s integrated EPC capabilities, enhancing project efficiency and competitiveness. 

• Multilateral-funded projects and regulatory support offer the potential to participate in complex, high-value contracts, strengthening technical expertise and market reputation. 

• Overall, the sector’s growth drivers position Technocraft to scale operations, diversify services, and achieve sustained financial growth. 

 Peer Group Comparison 

Name of the Company	Face Value (₹)	Revenue (₹ million)	EPS (₹)	NAV (₹)	P/E Ratio	RoNW (%)
Technocraft Ventures Limited*	10	2,795.64	9.37	39.86	[●]	23.51
Peer group
EMS Limited	106	9,658.32	33.05	175.70	18.15	18.84
VA Tech Wabag Limited	216	32,940.00	47.48	345.15	32.19	13.78
Enviro Infra Engineers Limited	10	10,660.56	11.76	56.66	20.87	17.81
Denta Water and Infra Solutions Limited	10	2,032.85	25.83	153.10	11.85	12.94

 Key Strategies for Technocraft Ventures Limited 

Strategic Expansion of Project Scale 

Technocraft Ventures Limited plans to expand the scale of its infrastructure projects, focusing on high-capacity water and wastewater treatment plants. By targeting larger projects, the company aims to reduce competition, enhance profit margins, and improve its pre-qualification status. This strategy aligns with the Indian government’s increasing investment in major infrastructure schemes. 

Expanding Geographic Presence 

The company intends to expand its geographic footprint beyond its established presence in Northern India. Technocraft Ventures is targeting high-potential states such as Madhya Pradesh, Chhattisgarh, Bihar, Jharkhand, and Odisha. This strategic expansion aims to capitalize on increasing infrastructure demand and mitigate regional risks, ensuring a more resilient and diversified business model. 

On-site Renewable Energy Generation 

Technocraft Ventures is integrating renewable energy, particularly solar power, into its projects to enhance environmental sustainability and operational efficiency. By installing solar panels at sites, the company aims to reduce dependence on external power grids and lower costs. This initiative aligns with India’s clean energy mandates and positions the company as a responsible infrastructure developer. 

Capitalize on Government Initiatives 

The company plans to capitalize on key government policy initiatives aimed at addressing urbanization challenges, such as the need for clean water and efficient wastewater management. Technocraft Ventures is actively participating in programs like the Jal Jeevan Mission and AMRUT, leveraging its expertise in STPs and sewerage systems to contribute to national infrastructure development. 

Strategic Diversification into High-Growth Sectors 

Technocraft Ventures intends to diversify into high-growth sectors that complement its core EPC capabilities. The company is exploring opportunities in renewable energy, solid waste management, and satellite city development. This strategic diversification aligns with national infrastructure goals and is expected to enhance long-term growth by reducing project-specific risks and expanding its service offerings. 

Enhancing Core Strengths 

The company believes its ability to execute projects effectively is crucial for its continued success. Technocraft Ventures is committed to attracting, retaining, and training qualified personnel. The company provides its staff with continuous training in the latest techniques and technologies, ensuring high-quality workmanship, timely project completion, and a strong competitive edge in the industry.