ING-GRAD

What ING-GRAD does

ING-GRAD d.d. is a Croatian public limited company headquartered in Zagreb at Kalinovica 3, founded in 1985 and operating under its current name since 1991. It is a full-service construction contractor organized across four operational pillars: (1) commercial and residential buildings (offices, shopping centers, production facilities, residential complexes); (2) tourist and public buildings (museums, hotels, public-use buildings); (3) energy and infrastructure (wind farms, district-heating network revitalization, petrol stations); and (4) cultural heritage restoration (historically significant buildings, forts, palaces, sacred architecture, bridges, and post-earthquake reconstruction). Across 35+ years, the company has executed around 200 construction projects, including more than 80 heritage restorations, with notable assignments including the Museum of Slavonia in Osijek, the St. Mark's Church roof in Zagreb, the Museum Mimara, and the Ivan Dežmana 10 seismic reconstruction.

Its technical differentiation lies in combining modern construction methods (FRCM structural strengthening, energy-efficient renovation, photovoltaic integration) with traditional craft techniques preserved from old guilds — for example, lime plaster produced to original recipes with natural pigments from larch-wood ash, photogrammetric reproduction of original Hermann Bollé tile shapes, and use of traditional materials such as Slavonian oak and larch for monumental roof reconstructions. Revenue is generated through winning public procurement tenders and negotiated private construction contracts on a project-by-project basis, with significant reliance on multi-year public-sector assignments, often pursued as consortium lead (e.g., the €179.8M University Hospital for Infectious Diseases project with Kamgrad and Tehnozavod) and frequently co-financed by the European Union. Certified to ISO 9001, ISO 14001, ISO 45001, and SCCp, the company went public on the Zagreb Stock Exchange under ticker IG in March 2025 at a €183.5M post-money valuation, with operations primarily in Croatia and select projects in North Macedonia.

Name

ING-GRAD

Legal name

ING-GRAD d.d.

Website

https://ing-grad.hr

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

101–250 employees

Short description

ING-GRAD d.d. is a Zagreb-based, Zagreb-Stock-Exchange-listed Croatian construction contractor (since March 2025) delivering commercial, residential, energy/infrastructure, and cultural-heritage restoration projects for government, institutional, and private clients, with particular expertise in post-earthquake reconstruction of historic buildings.

Ownership category

akta.pro rank

Headquarters

HQ city

Zagreb

HQ country

Bosnia & Herzegovina

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure

Revenue model

1. Construction Contracts: ING-GRAD generates revenue through the award of construction contracts, both public procurement tenders and private construction projects. Projects span commercial/residential buildings, tourist and public buildings, energy and infrastructure, and cultural heritage restoration. Revenue is project-based and contract-driven, with the company maintaining a pipeline of ongoing projects.
2. Consortium-based Public Infrastructure Projects: ING-GRAD participates in consortium arrangements with other construction companies (e.g., Kamgrad and Tehnozavod) for large public tenders. In June 2026, a consortium led by ING-GRAD won a 179.8 million euro contract for the central complex of the University Hospital for Infectious Diseases in Zagreb.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

ING-GRAD is a Croatian construction company that delivers a broad range of building services, including new construction of commercial and residential buildings, tourist and public buildings, energy and infrastructure projects, and restoration of cultural heritage properties. The company operates across the full construction lifecycle — from design and engineering through execution and handover — serving public, commercial, and institutional clients primarily in Croatia.

Product overview

ING-GRAD d.d. is a Croatian construction company founded in 1985, offering a comprehensive portfolio of construction services organized into four main divisions: Commercial and Residential Buildings Construction (office buildings, shopping centers, production facilities), Tourist and Public Buildings (museums, hotels), Energy and Infrastructure (wind farms, petrol stations), and Cultural Heritage Restoration (historically significant buildings, castles, churches, bridges). The company specializes in both new construction and specialized restoration work, with particular expertise in earthquake damage reconstruction and heritage building conservation using both modern techniques and traditional craftsmanship methods.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial and Residential Building Construction
• Tourist and Public Building Construction
• Energy and Infrastructure Construction
• Cultural Heritage Restoration

Quantifiable outcome

• Completed approximately 200 construction projects across various fields in over three decades of operation.
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• KamgradcoreStrategic or Co-development Partner · 23 June 2026ING-GRAD formed a consortium with Kamgrad and Tehnozavod to jointly bid on and execute the 179.8 million euro public tender for the central complex of the University Hospital for Infectious Diseases in Zagreb. Kamgrad is a Croatian construction company participating as a consortium partner on this significant public infrastructure project.
• TehnozavodcoreStrategic or Co-development Partner · 23 June 2026ING-GRAD formed a consortium with Kamgrad and Tehnozavod to jointly bid on and execute the 179.8 million euro public tender for the central complex of the University Hospital for Infectious Diseases in Zagreb. Tehnozavod is a Croatian construction company participating as a consortium partner on this significant public infrastructure project.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Others

• Holcim Croatia: Major construction-materials supplier (cement, aggregates) operating in Croatia. Not a direct competitor but an upstream ecosystem participant in the same Croatian construction value chain.
• Croatian Conservation Institute (Hrvatski restauratorski zavod): Croatian public institute specializing in cultural heritage conservation and restoration, and a customer of ING-GRAD on the Zagreb Tobacco Factory project. Functions as an indirect peer / ecosystem partner in the heritage-restoration value chain.

Broad incumbents

• Hochtief AG: Major international contractor with significant CEE operations. Competes for the same EU-financed and public-tender projects as ING-GRAD but at significantly larger scale and with broader geographic diversification.
• VINCI Construction: Global construction and civil engineering arm of VINCI, operating across Europe including the Balkans. Competes for large public infrastructure tenders in the region, including EU-financed projects.
• Strabag SE: One of Europe's largest construction groups with a strong CEE presence, active in Croatia on large public tenders and infrastructure. Overlaps with ING-GRAD on commercial, infrastructure, and public-project work but operates globally at much larger scale.
• PORR AG: Austrian-headquartered full-service construction firm with active Croatian and CEE operations across building construction, infrastructure, and environmental engineering. Comparable in segment breadth and EU-tender participation.

Direct peers

• Tehnozavod: Croatian construction and engineering company, also a consortium partner on the University Hospital project. Comparable in scale and focus on Croatian public infrastructure and industrial construction.
• Kamgrad: Croatian construction firm and direct consortium partner on the 179.8M EUR University Hospital tender. Operates in commercial, residential, and public-infrastructure construction in Croatia, making it the closest direct peer by geography, scale, and customer overlap.
• Industrogradnja: Croatian-headquartered construction group with operations across the former Yugoslavia and broader CEE, active in commercial, infrastructure, and energy construction. Geographically and operationally similar to ING-GRAD.
• Tehnika: Established Croatian general contractor operating across construction, civil engineering, and project development. Comparable by geography (Croatia/Balkans), customer base (public tenders), and broad construction scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCIng-Grad
• Facebookfacebook.com/ing.grad
• LinkedInlinkedin.com/company/ing-grad
• Instagraminstagram.com/ing_grad_dd

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ING-GRAD