ICICI Securities has downgraded Ahluwalia Contracts (India) to ‘Add’ due to expensive valuations, despite a revised target price of Rs 1,020. The company reported a consolidated total income of Rs 1233.87 crore for the quarter ended March 31, 2025, reflecting growth compared to previous periods. Management anticipates continued revenue growth and double-digit EBITDA margins, targeting significant order inflows in FY26.
