The Indian small-cap segment is currently navigating a period of selective volatility. As of February 18, 2026, the BSE Smallcap index has shown a modest five-day decline of **2.75%**, reflecting a cautious mood among investors despite a positive advance-decline ratio of **2.0x**. Against this backdrop, infrastructure and real estate picks are gaining attention due to robust order books and strategic pivots. The Union Budget 2026-27 has further bolstered sentiment with a **9%** increase in capital expenditure, totaling **₹12.22 lakh crore**. Kalpataru Projects International (KPIL) Kalpataru Projects is currently trading near **₹1,118**, maintaining a market capitalization of approximately **₹19,100 crore**. The company recently reported a massive **89%** year-on-year jump in net profit for the latest quarter, reaching **₹237 crore**. Its execution visibility is underpinned by a record-high consolidated order book of **₹64,682 crore**. Recent wins include a **₹719 crore** metro rail project in Thane and international T&D contracts worth **₹989 crore**, bringing its FY26 order intake to **₹14,951 crore**. RITES Ltd RITES is trading at approximately **₹221**, with a dividend yield of **3.41%**. Analysts maintain a positive outlook on this transport consultancy, with a consensus price target of **₹282.40**, suggesting a potential upside of over **27%**. The company continues to leverage its status as a leading engineering consultant. While revenue growth has faced recent headwinds, its operational margins remain healthy at **23.36%**, supported by a steady flow of domestic and international infrastructure consultancy assignments. Ahluwalia Contracts (India) Ahluwalia Contracts recently delivered a strong Q3 performance, with revenue from operations growing **11.43%** to **₹1,060.72 crore**. The company’s net profit for the nine-month period ending December 2025 surged by **55.6%**, reaching **₹184 crore**. A major catalyst for the firm is the recent securing of a contract worth **₹3,070 crore** in early 2026. Additionally, the board has approved the amalgamation of five subsidiaries to streamline its real estate and rental income operations, effective April 2026. Signature Global India Signature Global is pivoting toward the luxury and commercial segments in Gurugram. The company has formed a **₹1,283 crore** joint venture with RMZ Group to develop a massive mixed-use project on the Southern Peripheral Road, with a projected capital value of up to **₹16,000 crore**. Despite a reported Q3 consolidated net loss of **₹453 million** due to construction halts during pollution bans, the company is accelerating operations. It aims for sales bookings of **₹10,300 crore** this fiscal year, supported by a new luxury project expected to generate **₹5,000 crore** in revenue.