Afcons Infrastructure Ltd, part of the Shapoorji Pallonji Group, announced on Monday (1 November) that it has secured contracts worth Rs 8.84 billion in November for civil infrastructure works under its marine and industrial business unit. The orders fall under the engineering, procurement and construction (EPC) category.

The company noted that these projects were booked across the marine and industrial segments during the month. In October, Afcons had won an additional contract valued at about Rs 5.76 billion, including GST, for civil and allied infrastructure works.

Afcons also informed exchanges that it has received an inspection letter under Section 206(5) of the Companies Act, 2013, from the regional director (western region), Ministry of Corporate Affairs. The letter extends the inspection period to FY2024–25 from the earlier FY2018–19 to FY2022–23 and seeks clarifications regarding alleged non-compliances and accounting matters related to additional projects.

The company stated it believes its legal position is strong and intends to defend the matter vigorously, adding that it will respond appropriately to the RD letter.

Shares of Afcons Infrastructure closed at Rs 409.60 on the BSE, up Rs 5.25 or 1.30 per cent on 1 December.