Afcons Infrastructure won two Croatian road construction contracts worth ₹4,535.44 crore, boosting its order book to ₹36,869 crore. Shares surged up to 5.7% intraday on July 18, 2025, following the international win.
On Friday, the share price of Afcons Infrastructure, the flagship firm of the Shapoorji Pallonji Group, rose after the company won two road construction contracts in Croatia valued at ₹4,535.44 crore.
Afcons Infrastructure Limited, a prominent Indian infrastructure company, announced on July 17, 2025, that it has been declared the Lowest Bidder (L1) for two significant road construction packages in the Republic of Croatia. These contracts were awarded by Croatian Motorways Ltd, marking a substantial international win for the company.
The first project, designated Package J324/23, involves the construction of a 9-kilometre road length. This package is specifically for the "CONSTRUCTION OF THE METKOVIĆ DUBROVNIK SECTOR, SUBSECTION RUDINE SLANO (L=9.0 KM), A1 MOTORWAY ZAGREB-SPLIT-DUBROVNIK." The estimated value of this contract, excluding taxes, is €240,593,861.40, which is equivalent to approximately ₹2,398 Crores. The project is to be executed on a BOQ/Item rate basis and has a stipulated completion period of 42 months from the commencement date post-award.
The second project, Package -J325/23, entails the construction of a longer road section, spanning 11.5 kilometres. This package is for the "CONSTRUCTION OF THE METKOVIĆ DUBROVNIK SECTOR, SLANO PUO MRAVINJAC SUBSECTION (L=11.5 KM), A1 MOTORWAY ZAGREB-SPLIT-DUBROVNIK." The estimated value for this contract, excluding taxes, is €214,452,118.69, which translates to approximately ₹2,137.44 Crores.
Similar to the first package, this project will also be executed on a BOQ/Item rate basis with a completion period of 42 months, effective from the commencement date after the award. The conversion rate used for these figures is €1 = ₹99.67.
As of March 2025, the company has a total order book of ₹36,869 crore (highest ever; ~2.9x TTM turnover).
For the quarter ending March 2025, the company reported revenue from operations of ₹3,223 crore, marking an 11.36% decline compared to ₹3,636 crore in the same quarter of the previous year. Profit after tax stood at ₹111 crore, reflecting a year-on-year decrease of 23.45% from ₹145 crore.
On an annual basis for FY 2024–25, revenue from operations reached ₹12,548 crore, down 5.43% from ₹13,268 crore in FY 2023–24. However, profit after tax improved by 8.22%, rising to ₹487 crore from ₹450 crore in the previous year.
Shapoorji Pallonji Group's flagship company, Afcons Infrastructure’s share price increased as much as 5.70% to hit an intraday high of ₹440.30 per share on Friday, July 18, 2025. At 11:27 AM, Afcons Infrastructure scrip was trading 1.31 per cent higher at ₹422.90 per share, up by 1.49%. By comparison, the Nifty 50 was trading 0.55% higher at 24,973.50 levels.
On a year-to-date basis, the stock has declined by over 22% while in the last 3 months it is down by 4.95% only. Since its listing in November 2024, the stock is marginally down by 0.84%.
Afcons Infrastructure Limited, a flagship company of the Shapoorji Pallonji Group, is an Indian multinational construction and engineering firm established in 1959 and headquartered in Mumbai. The company specialises in a wide array of infrastructure Engineering, Procurement, and Construction (EPC) projects both within India and internationally. Its diverse portfolio includes marine works (ports, jetties, dry docks), surface transport (highways, bridges, railways), urban infrastructure (metro systems, flyovers), hydro and underground projects (dams, tunnels), and oil & gas facilities (onshore and offshore). Afcons is recognised globally, ranking among the top international contractors in marine and port facilities, bridges, and transportation sectors, known for delivering complex projects on or ahead of schedule.
Disclaimer: The article is for informational purposes only and not investment advice.
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