Mutual fund · Sectoral / Thematic
HDFC Infrastructure Fund
₹2,251 cr across 67 positions, as filed for 2026-09-30. Returns are the fund's AMFI growth-plan NAV; holdings and behavior come from its filed monthly portfolios.
Returns, against the category
Q2 FY27: −4% over 1 year against the median Sectoral / Thematic fund's +2%.
| Over | Quarter | 1 year | 3 years (ann.) | 5 years (ann.) |
|---|---|---|---|---|
| HDFC Infrastructure Fund | −5% | −4% | +12% | +17% |
| Median Sectoral / Thematic fund | −2% | +2% | +12% | +11% |
+55%Q3 FY24+79%Q4 FY24+76%Q1 FY25+56%Q2 FY25+23%Q3 FY25+5%Q4 FY25+1%Q1 FY26−5%Q2 FY26+2%Q3 FY26−3%Q4 FY26−1%Q1 FY27−4%Q2 FY27
What moved the fund, last 12 filed months
Contribution = the fund's filed weight each month × that stock's price move in its own filings, in percentage points of NAV. Corporate-action months are left out.
| Stock | 12 months | Latest month |
|---|---|---|
| TD Power Systems Ltd. | +1.7 pp | +0.0 pp |
| Centum Electronics Ltd. | +0.8 pp | +0.5 pp |
| Adani Ports & Special Economic Zone | +0.8 pp | +0.4 pp |
| Kalpataru Projects International Ltd | +0.5 pp | −0.1 pp |
| State Bank of India | +0.5 pp | −0.2 pp |
| Stock | 12 months | Latest month |
|---|---|---|
| HDFC Bank Ltd. | −1.3 pp | −0.0 pp |
| G R Infraprojects Limited | −0.9 pp | −0.2 pp |
| J.Kumar Infraprojects Ltd. | −0.8 pp | −0.2 pp |
| Ambuja Cements Ltd. | −0.7 pp | −0.1 pp |
| Paradeep Phosphates Limited | −0.7 pp | 0.0 pp |
Holdings, as filed for 2026-09-30
| Holding | Sector | % of fund | Value | Held for | Vs avg cost |
|---|---|---|---|---|---|
| Larsen & Toubro Limited | Construction | 7.03% | ₹158 cr | 46 mo | +31% |
| Kalpataru Projects International Limited | Construction | 4.40% | ₹99 cr | 45 mo | +114% |
| InterGlobe Aviation Limited | Services | 4.35% | ₹98 cr | 46 mo | +20% |
| ICICI Bank | Financial Services | 3.49% | ₹79 cr | 46 mo | +32% |
| Adani Ports | Services | 3.44% | ₹77 cr | 21 mo | +41% |
| NTPC Limited | Power | 3.23% | ₹73 cr | 46 mo | +71% |
| J.Kumar Infraprojects Limited | Construction | 2.88% | ₹65 cr | 46 mo | +70% |
| TD Power Systems Limited | Capital Goods | 2.51% | ₹57 cr | 40 mo | +61% |
| Power Grid Corporation of India Limited | Power | 2.12% | ₹48 cr | 30 mo | -10% |
| G R Infraprojects Limited | Construction | 1.99% | ₹45 cr | 46 mo | -34% |
| Adani Power | Power | 1.88% | ₹42 cr | 5 mo | -12% |
| Power Finance Corporation Limited | Financial Services | 1.87% | ₹42 cr | 46 mo | +8% |
| JSW Infrast | Services | 1.82% | ₹41 cr | 4 mo | +11% |
| HDFC Bank | Financial Services | 1.73% | ₹39 cr | 35 mo | -7% |
| Centum Electronics Limited | Capital Goods | 1.65% | ₹37 cr | 46 mo | +320% |
How this fund actually behaves
Computed from every filed monthly portfolio (46 months of filings) by the research pipeline.
| Holding patience | Median months a position is held (25th–75th band) | 21 mo (12–26) |
| Win rate on exits | Closed positions sold above entry, and the payoff ratio (39 exits) | 69% · payoff 2.7× |
| Loser handling | Cuts losers vs averages down, from 12 months of filings | Averages down |
| Entry valuation discipline | Median P/E paid on entries over 36 months; share above 50× | 31× · 28% over 50× |
| Portfolio valuation today | Weighted P/E and P/B of the current book at filed prices (P/E covers 95% of equity) | 42.9× P/E · 6.3× P/B · 5% loss-makers |
| Churn | Stocks entered and exited in 12 months, of 67 positions | 35 in · 22 out |
| Concentration | Top 10 holdings' share; effective number of positions | 35% · ~42 effective |