Afcons Infrastructure Limited has announced the re-appointment of its Cost Auditor for the upcoming financial year. The decision was taken by the Board of Directors during its meeting held on May 18, 2026, following the recommendation of the Audit Committee.

Board Approval and Ratification

The Board approved the re-appointment of M/s. Kishore Bhatia & Associates as the Cost Auditor of the Company for the financial year 2026-27. The firm, a registered Cost Accountant entity (Firm Registration No. 00294), will continue to provide its services to the infrastructure major. The payment of remuneration to the auditor is subject to ratification by the members of the Company at the ensuing Annual General Meeting (AGM).

Auditor Profile

M/s. Kishore Bhatia & Associates is a firm of practising cost accountants based in Mumbai. The firm offers a wide range of services, including cost audit, certifications, cost consultancy, costing-based turnaround strategies, and setting up costing systems across diverse industries. These include Pharmaceuticals, Engineering, Chemicals, Insecticides, Construction, Real Estate, Infrastructure, Steel, Telecommunications, Plastics & Polymers, Petroleum, FMCG, Medical Devices, Ports, Roads, Paints, and Energy. The firm also handles internal audits, stock and asset verification, and industry studies assignments.

Key Details of Appointment

The disclosure regarding the re-appointment was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI Master Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated January 30, 2026. The table below summarizes the key particulars of the appointment:

Afcons Infrastructure has received intimation of the client's decision selecting it as the most suitable bidder, with a proposal to accept its bid for the rehabilitation and construction of a railway line in Croatia. This development follows the company's earlier announcement wherein it had been declared the Lowest Bidder (L1) for the same project. The project is described as the company's largest international order to date and marks its foray into the European market.

Project Overview

The project entails a comprehensive scope of civil and allied infrastructure works on the Dugo Selo – Novska railway corridor in the Republic of Croatia. The following table summarises the key details of the project:

Leadership Commentary

Mr. Krishnamurthy Subramanian, Executive Chairman, Afcons Infrastructure Ltd, commented on the development: "This milestone project marks a significant step in Afcons' global journey, with an entry into Europe. It reflects our ability to deliver complex, large-scale infrastructure solutions across geographies. We are proud to contribute to the modernization of a railway network in a European country, and this achievement further strengthens our position as a trusted partner in international infrastructure development."

Mr. S Paramasivan, Managing Director, Afcons Infrastructure Ltd, noted that the project aligns with the vision of the Prime Minister of India, i.e., 'Making for the World', and highlighted the multi-disciplinary nature of the scope encompassing civil works, overhead electrification, signalling, and telecommunication.

About Afcons Infrastructure Ltd.

Afcons Infrastructure Ltd is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group. The company has a legacy of over six decades, with a strong track record of executing technologically complex EPC projects both within India and internationally. Key rankings as per the latest ENR survey are highlighted below:

• Global Ranking: Top 140 International Contractors
• Bridges: Ranked 12th globally
• Marine & Ports: Ranked 8th globally

Afcons Infrastructure is committed to creating sustainable value for stakeholders through transformative projects that connect communities and drive economic growth.