Hi Sahil,
Thanks for starting a thread on this
Construction industry does seem attractive in the long run, coupled with the fact that most of the stocks in this industry were hammered pretty badly in the crash.
What I want to understand is, except the financials, how does NCC differ with its peers like PSP Projects or KNR Constructions? (in case you have some idea about it)
Which leads to a similar but broader question- What exactly is the key differentiator in this industry? Low Cost? Order book size? Or intangibles like execution strategy?
Also, comparing it to PSP Project which has a P/E of ~14, what is it that the market sees in that company which it doesn’t in the others?