Afcons Infrastructure Limited announced that its Board of Directors, at its meeting held on May 18, 2026, approved the re-appointment of its top leadership for a two-year term, along with key changes in Senior Management Personnel (SMPs). Mr. Subramanian Krishnamurthy has been re-appointed as Executive Chairman, while Mr. Srinivasan Paramasivan has been re-appointed as Managing Director. Both appointments are effective from July 1, 2026, to June 30, 2028, subject to the approval of shareholders at the ensuing Annual General Meeting.

Director Re-appointments

The Board approved the re-appointment of Mr. Subramanian Krishnamurthy (DIN: 00047592) as a Whole-Time Director designated as Executive Chairman. Mr. Krishnamurthy has been a Whole-Time Director on the Board since 2002 and brings over four decades of experience in project planning, execution, overall project management, contract management, and corporate planning. He is an alumnus of NIT, Tiruchirappalli (Mechanical Engineering) and IIM, Mumbai (formerly NITIE, Mumbai, Industrial Engineering), and is internationally recognised for his expertise in contractual matters and dispute resolution. He is India's sole representative in the Dispute Review Board Foundation, USA, and collaborates with NITI Aayog and various central and state government ministries.

Concurrently, the Board re-appointed Mr. Srinivasan Paramasivan (DIN: 00058445) as Managing Director. Mr. Paramasivan has also been a Whole-Time Director on the Board since 2002 and brings over 43 years of industry experience with a focus on banking, finance, commercial matters, and business development. He holds qualifications including CAIIB, FCMA, FCS, and is a Stanford Certified Project Manager. He serves as Chairman of the Project Export Promotion Council (PEPC) and was appointed as an Additional Director on the Board of the Construction Skill Development Council of India (CSDCI). Neither director is related to any other Director of the Company, and neither is debarred from holding office by virtue of any SEBI order.

Senior Management Changes

The Board also approved several changes in Senior Management Personnel based on the recommendations of the Nomination and Remuneration Committee. Mr. Gokul Javalikar, Director (Non-Board Member) and Head of the Marine and Industrial Business Unit, will step down from his role effective the close of business hours on June 30, 2026, due to retirement, and will consequently cease to be designated as a Senior Management Personnel from that date.

In succession, Mr. Satish Tengeri, Executive Vice President (Operations), has been elevated to the position of Business Unit Head – Industrial Division effective July 1, 2026, and will be categorised as a Senior Management Personnel from the same date. Mr. Tengeri is a Civil Engineering professional with over four decades of experience in the execution and management of complex marine and industrial infrastructure projects, having spent 19 years at Afcons and previously worked with HCC, ECC (L&T), and Essar Group. Additionally, Mr. R. Ramkumar, Executive Vice President (Contracts & Legal), has been categorised as a Senior Management Personnel effective May 18, 2026. Mr. Ramkumar is a techno-legal professional with more than 27 years of experience in contracts administration and management of large-scale infrastructure projects, holding qualifications including B.Tech. (Civil Engineering), MBA (Operations), and LL.B. from the University of Mumbai.

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: