- Afcons Infrastructure, a renowned entity in the construction industry, has clinched two major contracts worth a whopping Rs 4,787.20 crore for the development of the Pune Ring Road (East) projects.
- The Maharashtra State Road Development Corporation (MSRDC) floated the tender, with Afcons emerging as the lowest bidder (L1) for the projects, highlighting the company’s competitive edge and expertise in the field.
- The first package, PRR E5, involves the construction of the Pune Ring Road (East) from Valati to Sonori in Pune district, with an estimated cost of Rs 2,718.50 crore, while the second package, PRR E7, focuses on the development of the road from Garade to Shiware, costing Rs 2,068.70 crore.
- Both projects will be executed under the Engineering, Procurement, and Construction (EPC) model, ensuring efficient and timely completion within a 36-month timeline, showcasing Afcons’ commitment to delivering quality infrastructure.
- Afcons Infrastructure, a flagship company of the Shapoorji Pallonji Group, has a rich legacy of over 60 years in handling complex engineering and construction projects, both in India and abroad, cementing its reputation as a leader in the industry.
- Despite facing revenue challenges in Q2 FY25, Afcons witnessed a 30% increase in net profit, reaching Rs 135.43 crore, showcasing its resilience and ability to navigate through market fluctuations.
- Despite the positive news of securing these lucrative contracts, Afcons Infrastructure’s shares witnessed a slight dip by 3.92% on the BSE, closing at Rs 479.60, indicating the volatility of the market and investor sentiment.
- The successful acquisition of these projects further solidifies Afcons Infrastructure’s position as a key player in the infrastructure sector, with a focus on driving impactful development initiatives in India, underscoring its commitment to excellence and innovation.
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