Afcons Infrastructure issues corrigendum on ₹1,085 crore DRDO contract

Shapoorji Pallonji group firm Afcons Infrastructure Ltd on Wednesday (January said it has issued a corrigendum to its earlier communication dated January 3, 2025, regarding the receipt of a ₹1,084.54 crore contract from the Defence Research and Development Organisation (DRDO).

“With reference to our earlier intimation letter dated January 03, 2025, under Regulation 30 of the SEBI (LODR) Regulation, 2015 regarding the receipt of Letter of Intent from the Govt of India, Ministry of Defence, Defence Research and Development Organisation (DRDO),” Afcons Infrastructure said in a regulatory filing.

The project involves infrastructure work on an Engineering, Procurement, and Construction (EPC) basis and is scheduled for completion within 36 months. The contract was awarded by the Ministry of Defence under the Government of India.

Afcons Infrastructure has secured orders worth ₹19,000 crore up to September 2024 and expects additional inflows of around ₹5,000 crore for the remainder of the year, surpassing its initial guidance of ₹20,000 crore, the management told CNBC-TV18 in an interaction on November 26.

“In Maharashtra, over the last one year or so, they have done bidding of ₹60,000-70,000 crore, and we have bagged close to ₹8,000-10,000 crore, where we have already received the order, or we are L1 (lowest bidder). For some of the projects, the bids were not open,” Jha said.

As of September 2024, the company’s total order book stood at over ₹34,000 crore. Shares of Afcons Infrastructure Limited ended at ₹528.10, up by ₹0.95, or 0.18% on the BSE.