Vishnusurya Projects and Infra started in 1996 as a small team of construction experts in Chennai and has spent nearly three decades turning itself into something rarer: an infrastructure company that owns the materials it builds with. It began as a pure EPC contractor, then in 2015 made a pivotal shift into mining its own construction aggregates and manufactured sand, and more recently added water infrastructure and waste management - each new leg built on the cash flows and capabilities of the one before. The recurring approach is to move from low-margin contracting toward asset-backed, cash-generating operations, and to bring in consortium partners with specialised technology rather than trying to build everything alone.
Business segments
Three engines at different stages - a mining-and-materials cash generator, an EPC construction platform that feeds on government infrastructure spending, and a water-infrastructure bet scaling through consortiums - plus a small waste-management seed being planted with partners.
1. Construction aggregates and M-Sand: the asset-backed cash engine
The company owns three quarries in Tamil Nadu that crush rough stone into blue metal and manufactured sand - a high-margin, cash-generating business that supplies the construction industry while replacing environmentally destructive river sand.
- Owns the rock, not just the contract - the company extracts rough stone from three owned quarries at Aruppukottai, Vandavasi, and Hosur, then crushes and washes it into blue metal (construction aggregates) and M-Sand (manufactured sand), capturing margin at every step rather than buying raw materials from third parties.
- A sustainable substitute with regulatory tailwinds - M-Sand replaces river sand, which is environmentally hazardous and increasingly restricted; government and international projects now specify manufactured sand, so demand is expected to run at full capacity for at least three to four years.
- A fleet that does the heavy lifting - the business runs 12 hydraulic excavators, 26 tippers, 5 drilling machines, 4 crushing and screening plants, and 3 CDE sand-washing machines, so it controls extraction, crushing, washing, and delivery without depending on hired equipment.
- Roll-out speed as a competitive edge - the company says it can bring a new mine online every six months, and is already eyeing Tuticorin for its next site because of a ₹35,000 crore government harbour expansion on the east coast.
2. EPC construction: the government-contract platform
A turnkey engineering, procurement, and construction business with over 28 years of experience and more than 34 completed projects, focused on government-funded water, marine, roads, housing, and rail work where payments are secure.
- Five infrastructure verticals under one roof - the EPC division builds water supply systems, marine structures like fish landing centres and breakwaters, highways and bridges, residential and commercial buildings, and metro rail track and stations, giving it a diversified tender pipeline across Tamil Nadu government departments.
- Class-I licence opens the door - the company holds a Class-I permit from Tamil Nadu Highways, Public Works, Water Supply and Drainage Board, and Greater Chennai Corporation, which is the entry ticket for bidding on projects awarded by these agencies.
- Chases margins, not just volume - in a sector known for aggressive bidding and thin margins, the company targets projects with EBITDA margins above 16%, and has executed work for marquee clients including NHAI, L&T, Chennai Metro Rail, and Adani Cement.
- In-house design keeps control - the division has its own design and engineering team and offers turnkey solutions from design through procurement to construction, so it does not outsource the thinking that shapes project cost and execution.
3. Water infrastructure: the consortium-powered growth bet
Large-scale desalination and water-supply projects won in partnership with international and domestic players, structured as public-private partnerships with 15-to-20-year operations and maintenance commitments that lock in long-term revenue.
- The Tuticorin desalination plant is the anchor - the company holds a 10% stake in a ₹2,217 crore consortium with JWIL Infra and IDE Technologies of Israel to design, build, operate, and maintain a 60 MLD seawater desalination plant for SIPCOT, with a 15-year O&M period after construction.
- Pipeline work feeds the order book now - a ₹103 crore turnkey project for JWIL Infra involves supplying, erecting, and commissioning high-capacity MS pipelines for Chennai’s 400 MLD desalination plant at Perur, with a 20-year O&M tail.
- Consortiums bring technology the company does not need to own - by partnering with IDE Technologies for desalination know-how and JWIL Infra for project scale, the company participates in orders far larger than it could bid for alone, while earning a retention margin of 13% to 17% depending on delivery efficiency.
- Water dominates the future pipeline - as of March 2026, water infrastructure projects represented 89% of the total order book, and the stated aim is to target a ₹300 crore or more water order book annually.
4. Waste management: the early-stage environmental seed
A small but growing entry into bio-mining, legacy waste processing, and industrial solid-waste infrastructure, built through partnerships with established players rather than organic trial and error.
- Bio-mining turns old landfills into recovered material - the business treats legacy waste by segregating and processing it to extract metals and reduce landfill burden, with revenue recognised based on the tonnage of waste processed at rates agreed with municipal clients.
- Partnerships provide the know-how - the company has signed MOUs with Hitachi Zosen India, Antony Waste Handling Cell, AG Enviro Infra Projects, and Gorantla Geosynthetics, giving it access to technology and pre-qualified bidding relationships in solid waste management, scientific landfilling, and waste-to-energy.
- Industrial waste opens a second front - a ₹23.6 crore project at SAIL’s Bokaro Steel Plant to replace a Benzol Recovery Plant and By-Product Plant marks the company’s entry into environmental engineering for India’s public-sector steel industry, diversifying beyond municipal contracts.
Group structure and partners
The company operates through two wholly owned mining subsidiaries and a web of consortium and joint-venture relationships that give it access to technology, scale, and new geographies without putting its own balance sheet at full risk.
- Subsidiaries lock in new mining regions - Vishnusurya Projects and Infra Hosur Private Limited (incorporated December 2024) and Vishnusurya Projects and Infra Thoothukudi Private Limited (incorporated March 2026) are 100%-owned vehicles for mining, civil construction, and infrastructure development in the Hosur and Thoothukudi regions of Tamil Nadu.
- An SPV for Chennai’s continuous water supply - the Board approved an investment of up to ₹5 crore in CWS Private Limited, a special-purpose vehicle to be incorporated as a subsidiary of Vishnusurya Projects and Infra Limited to implement a Hybrid Annuity Model water-supply project across two distribution zones in Chennai.
- Joint ventures stretch beyond water - a JV with Brigade will deliver roughly 140,000 square feet of rental property by mid-2027 on land contributed by the company, while a JV with SF Marina India targets concrete floating systems for marinas and docks across South India’s coastline.
- An MOU with NTPC’s services arm - the company signed an agreement with NTPC GE Power Services to jointly pursue EPC, operations and maintenance, and advisory work in the power sector, opening a potential new vertical through a partner with sector-specific credentials.