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Hi Sharad,
Allow me to first welcome you to the CarWale family.
Now, as per your query - Alto is a fine performer and delivers well with petrol. Running the car on CNG the car will experience a power loss of close to about 20-25%. Since Alto only has an 800cc engine, it will be quite an ask from the motor. But the fitment should not be a problem and if done by a highly trained mechanic, should pose no problems. The kit will cost you about Rs 35,000.
Alternatively, there are a few cars that you could consider. First being the Tata Indica with CNG, second Hyundai Santro CNG and the third, Maruti Wagon-R DUO.
Wagon-R DUO runs on petrol as well as on LPG. The power loss is not very substantial but LPG costs more than CNG. Tata Indica CNG is a good option. It is spacious, comfortable and pretty economical to run but is not as refined as either the Maruti or the Hyundai. The Santro is another viable option for you. It has been the bestseller in is class, has been a proven performer and now comes with the CNG option too!
I would suggest that if it is possible, do sell off the Alto and go in for either the Wagon R DUO or the Santro CNG. Both come factory-fitted with LPG and CNG kits respectively, which is surely anyday better than after-market fitment.
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