Afcons Infrastructure said on Wednesday, July 2, that it received a Letter of Commitment (LoC) for a construction contract worth ₹175 crore from Reliance Industries Ltd. The project pertains to the civil & structural erection work at Jamnagar, Gujarat, a stock exchange filing shows.The tentative timeline for completing the work shall be mutually agreed by both parties. The estimated value of the contract is ₹175 crore, but the payment shall be made as per the actual value of the work executed as per the contract, according to the update.
Afcons Infrastructure’s Managing Director Paramasivan Srinivasan told CNBC-TV18 in May that the company is targeting a strong 20–25% revenue growth in FY26, bouncing back from a weak FY25. This growth optimism is backed by a robust order pipeline. Afcons has guided for ₹30,000–35,000 crore in total orders for FY26. The company is also in race for a major project in Dubai.
Also read: Strong order pipeline to drive 20-25% revenue growth in FY26: Afcons InfraMumbai-headquartered Afcons in February received a ‘Buy’ rating from global brokerage firm Nomura which initiated coverage for the newly listed unit of the Shapoorji Pallonji Group. The shares of Afcons Infrastructure debuted on the stock exchanges in November, 2024.
Afcons Infrastructure’s Managing Director Paramasivan Srinivasan told CNBC-TV18 in May that the company is targeting a strong 20–25% revenue growth in FY26, bouncing back from a weak FY25. This growth optimism is backed by a robust order pipeline. Afcons has guided for ₹30,000–35,000 crore in total orders for FY26. The company is also in race for a major project in Dubai.
Also read: Strong order pipeline to drive 20-25% revenue growth in FY26: Afcons InfraMumbai-headquartered Afcons in February received a ‘Buy’ rating from global brokerage firm Nomura which initiated coverage for the newly listed unit of the Shapoorji Pallonji Group. The shares of Afcons Infrastructure debuted on the stock exchanges in November, 2024.
Shares of Afcons are trading 1.30% lower at ₹427.70 on the BSE. Meanwhile, the company’s shares have declined by as much as 20% over the previous six months.
First Published: Jul 2, 2025 12:18 PM IS
