Stock in Focus: Afcons Infrastructure Ltd, a Shapoorji Pallonji Group company, has received a contract worth approximately ₹576 crore (including GST) for civil and related infrastructure works. This is part of the company’s normal business.
Inspection letter received from MCA
The company said in a separate regulatory filing that it has received an inspection letter under Section 206(5) of the Companies Act, 2013. This letter has been issued by the office of the Western Regional Director of the Ministry of Corporate Affairs (MCA). Afcons Infrastructure Ltd said this is part of an ongoing inspection that began in 2024, as described under ‘Risk Factors’ in its prospectus dated October 29, 2024.
The new RD letter now covers additional projects and the observation period has been extended from FY2018-19 to FY2022-23 to FY2024-25. It sought clarification on some alleged non-compliance and accounting related matters. The company expressed confidence that its legal stance is strong and it will defend the case vigorously. The company said, ‘We will give a suitable reply to the RD letter.’
Railway project in Croatia
On July 21 this year, Afcons Infrastructure Ltd announced that it was declared the lowest bidder for a railway rehabilitation and construction project in Croatia by HŽ Infrastructura doo (HŽ Infrastructure Ltd).
The Croatian project will include the reconstruction of the existing track and the construction of a second track on the Dugo Selo-Novska railway line, as well as electrification and signaling works. The estimated value of the project is €677 million (approximately ₹6,800 crore) and the timeline for completion is 72 months.
what is the status of shares
Shares of Afcons Infrastructure Ltd closed 1.31% higher at ₹465.00 on the NSE on Thursday, October 9. The stock has gained 10.06% in the last 6 months. However, so far this year i.e. 2025, the stock has given a negative return of 13.83%. Its market cap is Rs 17.12 thousand crore.
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