The revenue of Indian construction companies is expected to rise by 8-10 per cent in FY2025, down from 15-18 per cent in FY2024, according to ICRA. Factors such as the extended monsoon season, milestone-based billing in Q2 FY2025, and the Model Code of Conduct in Q1 FY2025 have hindered construction activity. ICRA anticipates an acceleration in execution pace during H2 FY2025, with operational income projected to increase by 8-10 per cent in FY2025 and 10-12 per cent in FY2026. However, new order inflows were modest in H1 FY2025, and despite a pick-up in Q2 FY2025, they are likely to fall short of FY2024 levels.