Afcons Infrastructure Limited , a flagship company of the Shapoorji Pallonji Group, has announced significant changes to its leadership structure, marking a new era for the infrastructure engineering and construction giant.

Leadership Transition

Shapoorji Mistry, who has served on the Board of Afcons for over 25 years, including more than 13 years as Chairman, will transition to the role of Chairman Emeritus. This honorary, non-board position will allow Mistry to continue providing guidance and support to the company as needed.

Krishnamurthy Subramanian, previously serving as Executive Vice-Chairman, has been elevated to the position of Executive Chairman. Subramanian brings over 22 years of experience with Afcons, including 15 years as Managing Director. His appointment underscores the company's commitment to professional management and continuity in leadership.

New Board Member

In a move to strengthen the alignment between Afcons' long-term strategy and the Shapoorji Pallonji Group's vision, Pallon S. Mistry has been inducted to the Board of Directors. Pallon Mistry, aged 33, represents the next generation of the Shapoorji Pallonji family and brings a decade of experience to his new role.

Company Performance

Under Shapoorji Mistry's leadership from FY2012 to FY2025, Afcons has seen remarkable growth:

Notable Projects

Afcons has executed several landmark projects, including:

• The Chenab Railway Bridge in Jammu and Kashmir
• Atal Tunnel in Himachal Pradesh
• India's first underwater tunnel for Kolkata Metro

Additional Management Changes

The company also announced changes in designations for key senior management personnel:

• Anantakumar Rayaprolu: Appointed as Director & Chief Operating Officer
• Manivannan Venkataraman: Appointed as Director & Chief Technical Officer
• Bhakti Prasad: Appointed as Director & Chief Human Resources Officer

These changes reflect Afcons' commitment to recognizing and leveraging its experienced leadership team.

Market Response

As of the announcement, Afcons shares were trading at ₹418.70, down 0.81% on the stock exchange.

Afcons Infrastructure , a leading player in India's infrastructure sector, has kicked off the fiscal year with a robust financial performance in the first quarter. The company reported significant growth across key financial metrics, showcasing its resilience and operational efficiency in a dynamic market environment.

Financial Highlights

AFCONS Infrastructure posted impressive year-on-year growth in its Q1 results:

• Total Income reached ₹3,419.00 crore, marking a 6.4% increase from ₹3,213.00 crore in the same quarter of the previous year.
• EBITDA surged by 19.6% to ₹445.00 crore, compared to ₹372.00 crore in the same quarter last year.
• EBITDA margin expanded to 13.0% from 11.6%, reflecting improved operational efficiency.
• Profit After Tax (PAT) showed remarkable growth, jumping 50% to ₹137.00 crore from ₹92.00 crore.
• PAT margin improved to 4.0%, up from 2.9% in the corresponding quarter of the previous fiscal year.

Order Book and Business Outlook

The company's order book remains robust, standing at ₹35,311.00 crore as of June 30. This excludes L1 projects worth ₹21,556.00 crore, indicating a strong pipeline of future projects. The book-to-bill ratio of 2.6x provides healthy revenue visibility for the coming quarters.

In Q1, AFCONS secured new orders worth ₹1,093.00 crore. Notably, the company has made significant inroads into the European market, emerging as L1 in multiple large orders in Croatia in July, valued at ₹11,321.00 crore.

Key Project Milestone

A significant highlight of the quarter was the inauguration of the Chenab Railway Bridge, part of the Udhampur–Srinagar–Baramulla Rail Link. This engineering marvel, constructed by AFCONS, stands as the world's highest single-arch railway bridge. The company's contribution to this project of national importance includes:

• Construction of 17 critical railway bridges, in addition to the Chenab Bridge.
• Completion of 13 complex tunnels in the Katra–Laole section, spanning 36.3 km in challenging geological conditions.
• Building 8.2 km of India's longest transportation tunnel, which measures 12.75 km in total length.

Management Commentary

Mr. Subramanian Krishnamurthy, Executive Vice Chairman (Whole-time Director) of AFCONS Infrastructure, commented on the results: "AFCONS Infrastructure has started the new financial year with a positive set of results. We have delivered good growth in our profitability metrics. Our sustained efforts to enter European markets have borne fruit with us becoming L1 in multiple large orders in Croatia. This aligns with our strategy of focusing on large orders and expanding our presence in overseas markets."

He added, "We are excited by the growth opportunities available both domestically and internationally. We believe that our consistent financial performance, including a sturdy margin profile, positions us well to deliver value to our shareholders. We will continue to remain disciplined in our bidding and financing decisions while focusing on growth."

Conclusion

AFCONS Infrastructure's strong Q1 performance, characterized by significant growth in profitability and a healthy order book, sets a positive tone for the fiscal year. The company's strategic focus on large-scale projects and international expansion, particularly in Europe, indicates a clear growth trajectory. As AFCONS continues to leverage its engineering expertise in complex infrastructure projects, it remains well-positioned to capitalize on the growing infrastructure development opportunities both in India and abroad.