Afcons shares gain momentum with Bhopal Metro Line 2 project

07 Jun 2024 CW Team

Afcons Infrastructure made a quiet debut on the stock market on Monday but quickly gained momentum after emerging as the lowest bidder for the Bhopal metro project line 2 package.

The Bhopal Metro Phase 1 project’s 12.915 km Blue Line (Line-2) will link Bhadbhada Chauraha and Ratnagiri Tiraha, spanning 13 elevated stations. This package, issued by the Madhya Pradesh Metro Rail Corporation (MPMRCL), involves constructing all 13 stations of the Blue Line’s viaduct. The depot will also be shared with the Orange Line (Karond Circle to AIIMS) for maintenance and stabling purposes.

Afcons’ extensive project portfolio includes marine and industrial developments, surface transportation, urban infrastructure, hydro and underground projects, and oil and gas ventures. With a robust international presence, the company earns about 30 per cent of its revenue from overseas markets, primarily in Asia, Africa, and the Middle East. Over the last 11 years, Afcons has successfully completed 79 projects across 17 countries, amounting to a total contract value of Rs 563.05 billion.

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