Synopsis: Waaree Energies, NBCC, HAL, Ahluwalia Contracts, and Larsen & Toubro are stocks with strong order books, providing two-year revenue visibility and supporting stable business execution and earnings continuity.
Stocks with strong order books often provide clear revenue visibility and business stability. Companies that have secured work for the next two years enjoy predictable cash flows and reduced earnings uncertainty. Such visibility is especially valuable in volatile markets. Here are stocks backed by solid order pipelines that position them for steady execution and recurring revenue over the coming years. Here are a few stocks offering two-year revenue visibility backed by strong order books
Waaree Energies Limited
With a market capitalization of Rs. 89,830.25 crore, the shares of Waaree Energies Limited were currently trading at Rs. 3,123 per equity share, rising nearly 11.77 percent from its previous day’s close price of Rs. 2,794.20.
Waaree Energies Limited maintains a strong and expanding order book of approximately Rs. 60,000 crore in Q3 FY26, up from Rs. 47,000 crore in Q2 FY26. Supported by a robust order pipeline and over 100 GW of opportunity visibility, the company demonstrates sustained demand momentum. This provides revenue visibility for the next 1.5 to 2 years, with the company already tying up orders for FY28.
Waaree Energies Limited is a leading Indian solar company manufacturing solar photovoltaic modules and providing EPC renewable energy solutions. The company develops solar projects, rooftop systems, and utility-scale installations. With large manufacturing capacity and exports to global markets, Waaree supports clean energy adoption across residential, commercial, and industrial sectors.
NBCC (India) Limited
With a market capitalization of Rs. 26,997.30 crore, the shares of NBCC (India) Limited were currently trading at Rs. 99.99 per equity share, rising nearly 3.18 percent from its previous day’s close price of Rs. 96.91.
NBCC (India) Limited reported a strong consolidated order book of Rs. 1,28,381 crore as on September 30, 2025. The bulk of the order book is held by NBCC at Rs. 1,12,500 crore, followed by HSCC with Rs. 8,368 crore, HSCL at Rs. 7,185 crore, and NSL at Rs. 328 crore. The order book is expected to be executed over the next 4 to 5 years.
NBCC (India) Limited is a government-owned construction company focused on infrastructure development, project management, and real estate redevelopment. It executes civil construction projects, government housing redevelopment, and urban infrastructure works across India. NBCC operates as a turnkey project consultant delivering large public sector and commercial infrastructure projects.
Hindustan Aeronautics Limited
With a market capitalization of Rs. 2,99,494.16 crore, the shares of Hindustan Aeronautics Limited were currently trading at Rs. 4,478.25 per equity share, rising nearly 3.25 percent from its previous day’s close price of Rs. 4,337.25.
The company’s order book grew from Rs. 94,127 crore in April 2024 to Rs. 1,89,300 crore as of March 2025, reflecting an annual growth rate of approximately 101 percent. The order pipeline is estimated at around Rs. 1 lakh crores and is expected to materialize within the next one to two years.
Hindustan Aeronautics Limited (HAL) is India’s premier aerospace and defence manufacturer. The company designs, develops, and produces aircraft, helicopters, engines, and avionics for the Indian armed forces. HAL also provides maintenance, repair, and overhaul services, supporting India’s defence aviation ecosystem and indigenous aerospace manufacturing capabilities.
Ahluwalia Contracts (India) Limited
With a market capitalization of Rs. 5,880.84 crore, the shares of Ahluwalia Contracts (India) Limited were currently trading at Rs. 877.90 per equity share, rising nearly 4.92 percent from its previous day’s close price of Rs. 836.75.
Ahluwalia Contracts (India) Limited reported a net order book of Rs. 18,057.60 crore as of September 30, 2025, which is expected to be executed over the next 2.5 years. The company recorded a total order inflow of Rs. 4,521.06 crore during FY26. Additionally, it is currently the L1 bidder in two projects with a combined value of Rs. 1,620 crore.
Ahluwalia Contracts (India) Limited is a leading engineering and construction company specializing in building construction and infrastructure projects. It executes residential, commercial, hospital, hotel, and industrial projects across India. The company provides turnkey construction solutions with strong expertise in large-scale civil and structural engineering works.
Larsen & Toubro Limited
With a market capitalization of Rs. 5,56,401.83 crore, the shares of Larsen & Toubro Limited were currently trading at Rs. 4,044.85 per equity share, rising nearly 3.13 percent from its previous day’s close price of Rs. 3,922.
Larsen & Toubro Limited reported an order book of around Rs. 7,332 billion as of December 31, 2025, with an execution visibility of nearly three years. Domestic orders form the larger share at Rs. 3,763 billion, while international orders contribute Rs. 3,569 billion. This provides revenue visibility for more than 2 years.
Segment-wise, the company’s infrastructure dominates the mix at 58 percent, followed by energy at 34 percent, hi-tech manufacturing at 5 percent, and others at 3 percent, reflecting a diversified project pipeline.
Larsen & Toubro Limited is a multinational engineering and construction conglomerate engaged in infrastructure, energy, defence, manufacturing, and technology services. The company executes large complex projects worldwide and provides EPC solutions across sectors. L&T is known for its diversified operations and strong presence in global infrastructure and industrial development.
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