Afcons Infrastructure Ltd has secured a Letter of Award from Vadhvan Port Project Limited (VPPL) to construct a 10.14 km-long breakwater at the upcoming Vadhvan Port in Maharashtra. Valued at ₹5,301 crores (excluding GST), the project will be the second longest breakwater in the world upon completion. This strategic award strengthens the company's position in the marine infrastructure sector and supports India's ambition to become a global maritime hub.

The order was received in the normal course of business and disclosed to the exchanges on June 09, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The breakwater project is a key component of the Vadhvan Port, which is envisioned as India's largest public port with a handling capacity of 23.2 million TEUs.

Leadership Commentary

Krishnamurthy Subramanian, Executive Chairman of Afcons Infrastructure Ltd, stated that the award is a testament to the company's proven expertise in delivering complex and large-scale marine infrastructure projects. He highlighted that the Vadhvan breakwater project will serve as a strategic enabler for India's maritime ambitions.

S Paramasivan, Managing Director of Afcons Infrastructure Ltd, expressed pride in securing one of the world's landmark marine projects. He noted that the successful completion of this project would further strengthen the vision of Viksit Bharat.

Project at a Glance

The key details of the Vadhvan Port breakwater contract are summarised below:

About Afcons Infrastructure

Afcons Infrastructure Ltd is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group. With a legacy of over six decades, the company operates in 31 countries across South Asia, Africa, the Middle East, and CIS. It is currently ranked as the 8th largest marine and port facilities contractor globally by Engineering News-Record (ENR), USA. The company has previously executed complex marine projects internationally, including the Bulk Jetty at Port of Sohar in Oman and the New Owendo International Port in Gabon.

Afcons Infrastructure Limited has raised ₹25 crore through the issuance of commercial papers on a private placement basis. The unsecured instruments carry a coupon rate of 8.05% per annum, providing the company with short-term working capital. The issuance was completed on June 04, 2026, and the papers are proposed to be listed on the National Stock Exchange of India Limited.

The commercial papers have a tenure of 182 days, with a maturity date set for December 03, 2026. Interest payments are scheduled to be made upfront. The issuance was made in favor of The Maharashtra State Co-Operative Bank Ltd. The instruments carry a credit rating of Crisil A1+.

Details of the Issuance

The following table outlines the key specifics of the commercial papers issued by the company:

The disclosure was made to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Gaurang Parekh, Company Secretary and Compliance Officer, signed the filing on behalf of the company.