Recurring NGT construction bans in NCR
Pollution-related shutdowns have become annual, impacting 44% of order book and causing revenue shortfalls.
AHLUWALIACONTRACTS / bear-case history
Track the concerns that keep returning.
Ahluwalia Contracts · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
high
Labor availability and cost inflation
Scarcity of skilled labor and rising unit rates are pressuring margins; new labor code adds ₹1.31 crore cost in 9M.
Execution delays in large projects
CSMT station redevelopment faces design rework and potential further delays; cost overruns may not be fully recoverable.
Slow conversion of L1 orders
Government projects, especially state-level, may take longer to convert to letters of award, impacting future revenue visibility.