IRCON International has secured a Rs. 962.5 mn contract from Konkan Railway Corporation to maintain communication systems in the Katra-Banihal railway section. The state-owned engineering and construction company disclosed the award on October 8, 2026, stating that the contract includes GST and will run for five years. The agreement covers an annual maintenance contract for the Integrated Tunnel Communication System installed in the Northern Railway section. The maintenance scope includes IP-based video surveillance, public address systems, emergency communication facilities and networking infrastructure across tunnels, bridges and railway stations. IRCON International said the contract was awarded by a domestic entity and does not constitute a related-party transaction. It also stated that its promoters, promoter group and group companies have no interest in the entity that awarded the contract. The company's shares closed at Rs. 104.68 on October 9, gaining 1.35 per cent during the session. However, the stock has declined 41.17 per cent so far in 2026. Separately, IRCON International plans to challenge an arbitration award of Rs. 236.4 mn relating to a dispute with Afcons Infrastructure before the Delhi High Court. Afcons had submitted a claim of Rs. 3.6 bn on February 22, 2023, concerning work package T-74R-A. On June 29, 2026, the majority tribunal awarded Rs. 1.47 bn against the claim, while a minority tribunal issued a dissenting opinion on September 23 and awarded Rs. 236.4 mn against the same claim. IRCON International said the arbitration process was complete and that it would contest the award in accordance with the law. For the quarter ended June 30, 2026, IRCON International reported a 43.6 per cent year-on-year decline in consolidated net profit to Rs. 927.4 mn from Rs. 1.65 bn in the year-ago period. Consolidated revenue from operations increased 9.5 per cent to Rs. 1.96 bn from Rs. 1.79 bn.