Afcons Infra Shares Rise After Rs 12.83 Billion Gujarat Contract Win

31 Jan 2025 CW Team

Afcons Infrastructure, part of the Shapoorji Pallonji Group, has secured a significant Rs 12.83 billion contract for the marine package at Tuna Tekra, Gujarat, attracting attention to its shares.

The company will handle the design and construction of the container terminal at Tuna Tekra (Package-1), with the project slated for completion in 29 months under an engineering, procurement, and construction (EPC) model.

Additionally, Afcons was awarded two projects worth Rs 47.87 billion for constructing access-controlled sections of the Pune Ring Road (East), with a 36-month timeline for completion.

Both projects were awarded by the Maharashtra State Road Development Corporation (MSRDC). Despite these major project wins, Afcons’ shares have declined 15% year-to-date and 13% over the past month. The company’s current market capitalisation is Rs 168.5 billion.

(ET)

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