Afcons Wins Rs 45.4 Billion Croatia Road Contracts

21 Jul 2025 CW Team

Afcons Infrastructure, a Shapoorji Pallonji group company, has emerged as the lowest bidder for two major road construction contracts in Croatia, totalling Rs 45.35 billion. According to an exchange filing, the contracts were awarded by Croatian Motorway and involve building two road segments. The first contract, worth Rs 23.98 billion, involves constructing a 9 km stretch, while the second, valued at Rs 21.37 billion, covers an 11.5 km segment. Both projects have a construction timeline of 42 months.

This marks the second major contract win for Afcons this month. On 2 July, the company received a Letter of Commitment from Reliance Industries for civil and structural works at its Jamnagar facility, valued at Rs 1.75 billion.

Afcons has a robust international presence, operating in over 26 countries, primarily across Africa and the Middle East. In FY25, the company completed more than 60 overseas projects, which included over 5,100 lane kilometres of roads, 195 bridges and flyovers, and approximately 150 km of elevated and underground metro tracks.

For FY25, Afcons reported a profit after tax (PAT) of Rs 4.97 billion, up 8.2 per cent from Rs 4.5 billion the previous year. EBITDA grew by 4.99 per cent to Rs 16.62 billion. However, total income declined by 4.57 per cent year-on-year to Rs 130.23 billion. In Q4 FY25, revenue from operations dropped by 11.36 per cent, falling from Rs 36.36 billion in Q4 FY24 to Rs 32.23 billion.

Despite a dip in revenue, Afcons continues to demonstrate strong profitability and international growth momentum, reaffirming its position as a leading player in global infrastructure development.

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