K2 Infragen
K2 Infragen Limited is a publicly listed Indian EPC infrastructure company executing turnkey projects in railway electrification, power transmission and distribution, road construction, water supply, and solar across eight Indian states for government agencies and private clients.
- Company typePublic
- Founded2015
- HeadquartersGurugram, India
- Headcount11–50
- GTM typeB2B
- OfferingServices
What K2 Infragen does
K2 Infragen Limited is an integrated engineering, procurement, and construction (EPC) infrastructure company publicly listed on Indian exchanges under ticker K2INFRA. Originally incorporated on March 5, 2015 as K2 Powergen Private Limited, the company rebranded to K2 Infragen in 2017 and converted to a public limited company in November 2023, completing its IPO in 2024. Headquartered in Gurgaon, Haryana, the company executes turnkey infrastructure projects across at least eight Indian states covering North, Central, South, and West India. Its core service offerings span railway electrification (including specialized 2x25 kV AC traction system upgradation), power transmission and distribution (132/33 kV and 220 kV substations and lines), road and highway construction under EPC and hybrid annuity modes, water supply projects under Jal Jeevan Mission/AMRUT, renewable energy/solar EPC, and building construction. Technical capabilities include in-house design, procurement, and project management, supported by a fleet of 15 owned construction equipment and ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications.
The company operates a project-based revenue model under three streams: one-time EPC contract revenue, professional services including design and supervision, and a smaller trading business. Revenue is generated through competitive bidding on central and state government tenders as well as direct engagement with private sector clients. Major customers include Indian Railways, Konkan Railway, RVPN, KPTCL, NHAI, Panchayat Raj Engineering Department Telangana, and private-sector EPC clients such as Larsen & Toubro, Tata Projects, HG Infra Engineering, KEC International, GR Infraprojects, and Adani Green Energy. Recent notable contract wins include a Rs 390.91 crore Telangana road project, Rs 262 crore Indian Railways Luni-Bhildi electrification (as JV lead partner with Salasar Techno Engineering), Rs 158.58 crore Konkan Railway electrification, Rs 85 crore KPTCL transmission order, and Rs 56.91 crore RVPN orders. The company has also acquired a 49% stake in Animaus Energy to enter solar generation with intent to make it a wholly owned subsidiary. For FY 2025-26, revenue from operations was Rs 184.68 crore (~$22M, +25.96% YoY) and the order book reached approximately Rs 918 crore by June 2026.
The business is led by Founder and Managing Director Pankaj Sharma (electronics engineer, MBA Marketing), with CFO Priyanka Pareek (Chartered Accountant), VP-Projects Pushpendra Singh, VP-Business Strategy Vineet Sharma, Senior VP Sanjay Gupta (ex-KEC International, 38+ years EPC experience), Executive Director Vikas Lakhanpal (ex-American Tower, Honeywell), and several independent directors including Ajai Kumar Singh Chauhan (RITES background). Operating geographies span four regions of India with no international footprint disclosed. Key risks include concentrated dependence on government tendering, a contract value (Rs 390.91 crore) that exceeds four times the company's market capitalization (~Rs 84.86 crore as of June 2026), disclosed Income Tax Department search proceedings, and execution capacity constraints given an order book more than five times annualised revenue.
K2 Infragen firmographics
Firmographics- Name
- K2 Infragen
- Legal name
- K2 Infragen Limited
- Website
- https://k2infra.com
- Company type
- Public
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- K2 Infragen Limited is a publicly listed Indian EPC infrastructure company executing turnkey projects in railway electrification, power transmission and distribution, road construction, water supply, and solar across eight Indian states for government agencies and private clients.
- Ownership category
- akta.pro rank
K2 Infragen industry classification
Industry- Product category
- Infrastructure Construction Services (EPC)
- NAICS
- Power and Communication Line and Related Structures Construction (237130), Utility System Construction (2371)
- SIC
- Heavy Construction Other Than Bldg Const - Contractors (1600)
- akta.pro primary industry
- Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE) (EUAMAFAJ)
- akta.pro secondary industries
- Overhead & Underground Collection System Construction (MV/HV Lines, Duct Banks) (EUAEADAG), Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB), Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations) (EUAEADAA)
Keywords
Where K2 Infragen is headquartered
LocationHeadquarters
- HQ city
- Gurugram
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
K2 Infragen business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- EPC Contract Business: The primary revenue stream comes from engineering, procurement and construction contracts. The company designs projects, procures key materials, and executes at sites with overall project management through commissioning. Projects span railway electrification, power transmission/distribution, road construction, water supply, and building construction. Revenue from operations grew 25.96% to Rs 1.85 billion (₹184.68 crore) in FY 2025-26.
- EPC Service Business: Service-based EPC offerings including design, procurement, construction supervision, subcontract management, work order management, and post-construction activities provided to clients across the infrastructure value chain.
- Trading Business: The company also engages in trading business as part of its revenue diversification strategy.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | Project-based EPC contracts - pricing varies by project scope and scale |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
K2 Infragen product offering
Product offeringCore offering
K2 Infragen Limited is an integrated Engineering, Procurement and Construction (EPC) infrastructure company that delivers turnkey construction services across railway electrification (including 2x25 kV AC traction power systems), power transmission and distribution (substations and transmission lines), road and highway construction, water supply projects (JJM/AMRUT), renewable energy/solar EPC, and building/civil construction. The company combines in-house design, procurement, project management and quality control with a fleet of 15 owned construction equipment to execute projects for government clients (Indian Railways, Konkan Railway, RVPN, KPTCL, NHAI) and private infrastructure majors across 8 Indian states.
Product overview
K2 Infragen Limited is an integrated EPC (Engineering, Procurement, and Construction) infrastructure company offering a comprehensive suite of services across multiple domains. The company operates through a unified service model combining EPC/Turnkey Construction, Power Engineering, and Project Engineering as its foundational pillars. These core services support specialized infrastructure offerings including Road/Transport/Highways construction, Railway electrification and infrastructure work, Power Transmission and Distribution (T&D), Renewable Energy/Solar EPC, Water Supply Projects (JJM/AMRUT), and Building/Civil construction. The company executes projects across 8 Indian states with in-house design, engineering, procurement, project management, and quality management capabilities, supported by a fleet of 15 construction equipment and vehicles.
Differentiator
Problem solved
Functional benefit
Products and services
- EPC / Turnkey Construction Services Comprehensive engineering, procurement, and construction services delivering complete infrastructure projects on a turnkey basis, including build-to-order and build-operate-lease arrangements for government and private clients.
Quantifiable outcome
- Revenue growth of 25.96% YoY to ₹184.68 crore in FY26
- +4 more outcomes
Companies that use K2 Infragen
Customer profileNamed customers12 records
Segments6 records
Ideal customer profiles2 records
K2 Infragen technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
K2 Infragen partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and core.
- Om Associates Pvt. Ltd.minorConsortium partnership for ₹85 crore KPTCL transmission project in Karnataka. K2 Infragen awarded order in consortium with Om Associates Pvt. Ltd. for development of 220 KV transmission lines and substations in Belgaum district.
- Salasar Techno Engineering Ltd.coreJoint venture partnership for railway electrification project where K2 Infragen holds 74% stake as lead partner. The JV secured ₹262 crore Indian Railways contract for 2x25 kV AC traction power system on Luni-Bhildi rail section.
Scale indicators9 records
Recent moves10 records
Expansion highlights5 records
K2 Infragen competitors and assessment
Company assessmentDirect peers
- IRCON International: Government PSU focused on railway construction and electrification; competes directly for the same Indian Railways packages and Zonal Railways tenders K2 is winning.
- HG Infra Engineering: Direct peer in road and highway EPC under HAM mode (also a customer of K2's embankment work). Competes for similar NHAI and state road packages in North/West India where K2 operates.
- Rail Vikas Nigam Limited (RVNL): Railway PSU executing large rail infrastructure including electrification and civil works; competes for multi-disciplinary railway EPC packages analogous to those K2 targets.
- KEC International: Direct competitor in railway electrification and power T&D, with overlapping customer base (RVPN, KPTCL, Indian Railways) and a much larger global EPC footprint. K2's Senior VP Sanjay Gupta was previously VP at KEC, indicating talent and methodology overlap.
- Dilip Buildcon: Listed Indian highway EPC under HAM/EPC models, operating across similar geographies and competing for the same NHAI and state road tenders that anchor K2's Road segment.
- Kalpataru Projects International: Mid-to-large Indian EPC with adjacent business mix in power T&D, railways (including OHE), and water/urban infrastructure. A direct competitor for the same government T&D and railway electrification tenders K2 is bidding on.
- Patel Engineering: Direct peer in hydro/water/EPC civil works and tunnels, with similar presence in India's infrastructure buildout. Competes in adjacent water supply and tunnelling segments.
- GR Infraprojects: Direct peer in HAM-mode roads, railway civil works, and embankment construction; also a K2 customer and source of senior talent (Non-Executive Director Neeraj Bansal previously at GR Infraprojects).
Broad incumbents
- Tata Projects: Large diversified EPC incumbent and also a K2 customer; competes in power, rail, road, and urban infrastructure with materially greater balance sheet and execution scale.
- Larsen & Toubro (L&T): India's largest EPC conglomerate with deep presence across railways, power T&D, roads, and buildings—the same segments K2 pursues. Also a K2 customer for civil works; sets the de-facto benchmark on tender competitiveness.
Market position
Strengths6 records
Weaknesses7 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
K2 Infragen social profiles
Digital presenceK2 Infragen compliance and trust
Trust signalCompliance3 records
K2 Infragen financial estimates
Financial estimateRevenue estimate
Valuation estimate
K2 Infragen leadership team
Management profileNumber of profiles
Profiles16 records
K2 Infragen subsidiaries and ownership
Company hierarchySubsidiaries1 record
K2 Infragen funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
K2 Infragen M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about K2 Infragen
What does K2 Infragen do?
K2 Infragen Limited is an integrated Engineering, Procurement and Construction (EPC) infrastructure company that delivers turnkey construction services across railway electrification (including 2x25 kV AC traction power systems), power transmission and distribution (substations and transmission lines), road and highway construction, water supply projects (JJM/AMRUT), renewable energy/solar EPC, and building/civil construction. The company combines in-house design, procurement, project management and quality control with a fleet of 15 owned construction equipment to execute projects for government clients (Indian Railways, Konkan Railway, RVPN, KPTCL, NHAI) and private infrastructure majors across 8 Indian states.
Is K2 Infragen a public or private company?
K2 Infragen is a public company. It is classified as public and is currently operating.
When was K2 Infragen founded?
K2 Infragen was founded in 2015. It employs 11 to 50 people.
Where is K2 Infragen based?
K2 Infragen is headquartered in Gurugram, India, in the Asia region.
How does K2 Infragen make money?
Three revenue lines are on record. EPC Contract Business are the primary driver. The others are EPC Service Business and trading Business.
Who are K2 Infragen's main competitors?
Direct peers on record are IRCON International, HG Infra Engineering, Rail Vikas Nigam Limited (RVNL), KEC International, Dilip Buildcon, Kalpataru Projects International, Patel Engineering and GR Infraprojects. Broad incumbents are Tata Projects and Larsen & Toubro (L&T).
Does K2 Infragen have an API?
No public API is recorded for K2 Infragen.
What industry is K2 Infragen in?
K2 Infragen's product category is Infrastructure Construction Services (EPC). Its primary akta.pro industry code is EUAMAFAJ, Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE), with a secondary code of EUAEADAG, Overhead & Underground Collection System Construction (MV/HV Lines, Duct Banks). Its NAICS code is 237130 and its SIC code is 1600.