Afcons Infrastruct.

** Shares of Afcons Infrastructure AFCN.NS up 2% at 284.3 rupees

** Infrastructure engineering and construction co gets arbitral award of 3.36 bln rupees ($35.1 mln) in its favour; co expects positive impact on its financials

** Arbitration proceedings between co and Uttar Pradesh Expressways Industrial Development Authority

** Avg rating of 10 analysts is "hold" and median PT is 324.5 rupees - data compiled by LSEG

** AFCN down ~26% YTD

($1 = 95.7125 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

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Afcons Infrastructure received an arbitral award of ₹335.50 crore in its dispute with Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) on 24 August 2026. The award comprised ₹152.25 crore of principal and ₹183.25 crore of pre-award and pendente lite interest, calculated at SBI’s base rate with quarterly rests from 1 May 2019. Payment was subject to UPEIDA not challenging the award within the stipulated period under law. Afcons had reported consolidated operating revenue of about ₹11,950 crore and profit after tax of ₹290 crore for FY26. Its order book stood at ₹43,290 crore in the June quarter, while debt was ₹3,529 crore after ₹2,230 crore a year earlier.

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Aug 24 (Reuters) - Afcons Infrastructure Limited AFCN.NS:

• AFCONS INFRASTRUCTURE - RECEIVED ARBITRAL AWARD OF 3.36 BILLION RUPEES IN CO'S FAVOUR

• AFCONS INFRASTRUCTURE - THERE WILL BE POSITIVE IMPACT ON FINANCIAL POSITION OF COMPANY

Source text: ID:nBSEb0hrXb

Further company coverage: AFCN.NS

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CRISIL Ratings revised the outlook on Afcons Infrastructure's long-term bank facilities and ₹500 crore of non-convertible debentures to Negative from Stable, while reaffirming the AA- rating. It reaffirmed the company's ₹500 crore commercial-paper programme at A1+. The rating action cited weaker operating performance, higher working-capital intensity, delayed receivable realisation, limited work fronts and slower conversion or cancellation of some L1 projects. Afcons reported FY26 operating income of ₹11,976 crore, total debt of ₹3,529 crore and cash and equivalents of about ₹900 crore.

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** Construction firm Afcons Infrastructure's AFCN.NS June-qtr net profit falls 77.7% YoY; revenue from operations down 20.8%

** Jefferies cuts PT to 290 rupees from 305 rupees, citing continued weakness in project execution and working capital

** Brokerage says weakness stemming from delays in converting orders into revenue with slower project execution likely to persist over the near to medium term

** Dolat Capital says Q1 was a bad quarter with results much below estimates, lowers its FY27 and FY28 EBITDA, revenue estimates on expectations of slower project execution and weaker margins

** Dolat trims PT on stock to 269 rupees from 317 rupees

** AFCN shares up 1.3% to 266.30 rupees after slipping 1.4% earlier in the session

** YTD, stock down 32.1%

(Reporting by Abhinav Parmar in Bengaluru)

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Afcons Infrastructure received a Letter of Acceptance from the Brihanmumbai Municipal Corporation for the design and construction of a desalinated-water conveyance tunnel from Manori to Charkop, extending to Mahavir Nagar in Mumbai, valued at ₹1,918 crore including GST and O&M. The award came after roughly ₹900 crore of urban-infrastructure wins recorded in July, while FY27 booked inflow stood at about ₹8,900 crore at the end of that month, alongside a separate ₹7,000 crore L1 position. Afcons was also executing BMC's 7.13-km underground water-conveyance tunnel from Kasheli to Mulund. Its standalone revenue for FY26 was ₹11,938 crore and profit after tax was ₹290 crore.

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Aug 6 (Reuters) - Afcons Infrastructure Limited AFCN.NS:

• AFCONS INFRASTRUCTURE - GOT PROJECT VALUED AT 19.18 BILLION RUPEES

Source text: ID:nBSE3v0dsZ

Further company coverage: AFCN.NS

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Afcons Infrastructure said it secured two urban infrastructure projects in July with a combined value of nearly ₹900 crore. The orders were received in the normal course of business, and the company did not identify the individual projects. The inflow follows a weak FY26 in which Afcons booked ₹8,000 crore of orders against an initial target of ₹30,000 crore. Management has guided to ₹30,000 crore of order inflow for FY27.

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July 31 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE LTD - AFCONS SECURES PROJECTS WORTH NEARLY 9 BILLION RUPEES IN JULY

Source text: [ID:]

Further company coverage: AFCN.NS

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BENGALURU, July 30 (Reuters) - Diary of India economic, corporate events on July 30

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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Goswami Infratech Private Limited created a pledge over its entire 25.03 per cent stake in Afcons Infrastructure on 21 July 2026. The pledge, covering 9.20 crore shares, was made in favour of Axis Trustee Services Limited to secure non-convertible debentures issued by Equizen Investment Private Limited with a principal of ₹2,135 crore. The encumbrance was created the same day an earlier pledge over the same block was fully released after the redemption of separate debentures released earlier in July. Afcons' promoter group has repeatedly used its shareholding as collateral for group debt; Goswami Infratech had previously pledged the entire stake before releasing it. Afcons reported standalone revenue of ₹11,938 crore and net profit of ₹290 crore for the financial year ended March 2026.

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Axis Trustee Services released its encumbrance over 9,20,72,053 shares of Afcons Infrastructure, or 25.03 per cent of the company's equity, according to a regulatory filing made on July 23. The shares were previously pledged by promoter entity Goswami Infratech Private Limited as collateral for debentures issued by GIPL and Capespan Investment Private Limited. Both sets of debentures have now been fully redeemed, triggering the release of all associated pledges on July 21.

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July 6 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE - GETS TAX PENALTY OF 164.8 MILLION RUPEES IMPOSED

Source text: ID:nNSE1JBjD6

Further company coverage: AFCN.NS

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** Shares of Afcons Infrastructure AFCN.NS jump 8.8% to 343.35 rupees

** Infrastructure engineering and construction co gets order worth 53.01 bln rupees ($554.7 mln) from Vadhvan Port Project

** Order for construction of a 10.14 km-long breakwater at the upcoming Vadhvan Port in Maharashtra

** YTD, AFCN down about 11%

($1 = 95.5575 Indian rupees)

(Reporting by Vijay Malkar)

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Afcons Infrastructure has received a Letter of Award from Vadhvan Port Project Limited to build a 10.14-kilometre breakwater at the upcoming Vadhvan Port in Maharashtra, the company announced on Tuesday. The project is valued at ₹5,301 crore. Once completed, it will be the second longest breakwater in the world. Vadhvan Port is envisioned as India's largest public port with a handling capacity of 23.2 million twenty-foot equivalent units, positioning the country prominently on global trade routes. Afcons, ranked the eighth largest marine and port facilities contractor globally by Engineering News-Record, has previously delivered complex marine projects across India and internationally, including in Oman, Gabon, and Kuwait. The company's executive chairman described the award as a testament to its expertise in large-scale marine infrastructure.

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June 9 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE - GETS PROJECT VALUED AT 53.01 BILLION RUPEES

Source text: ID:nBSE8mFl2

Further company coverage: AFCN.NS

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** Shares of Afcons Infrastructure AFCN.NS fall as much as 1.26% after Jefferies downgrades stock to "hold" from "buy", PT cut to 305 rupees from 440 rupees

** Jefferies cuts FY27/FY28 EPS estimates by more than 37%

** Brokerage cites persistent weakness in execution and order inflows

** Says FY26 order inflow fell 74% y/y due to delays in converting low-bidder projects and cancellations, while working capital pressures and payment delays remain

** Adds, near-term weakness could persist amid slower execution, geopolitical disruptions

** AFCN rated "hold" on average by 10 analysts, median PT at 345 rupees - LSEG-compiled data

** Stock last down 0.41% at 304.15 rupees

** YTD, stock down about 21%

(Reporting by Surbhi Misra in Bengaluru)

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BENGALURU, May 19 (Reuters) - Diary of India economic, corporate events on May 19

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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May 18 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE LTD - RECOMMENDS DIVIDEND OF 2 RUPEES PER SHARE

• AFCONS INFRASTRUCTURE LTD - MARCH-QUARTER CONSOL NET LOSS 884 MILLION RUPEES

• AFCONS INFRASTRUCTURE LTD - MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 26.14 BILLION RUPEES

Source text: ID:nBSE5p3zwC

Further company coverage: AFCN.NS

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** Shares of Afcons Infrastructure AFCN.NS up 2.3% to 334.3 rupees, after rising as much as 9.9% earlier in the session

** Co wins project worth 75.44 bln rupees ($789.7 mln) for rehabilitation and construction of a railway line in Europe

** More than 8.5 mln shares traded, ~4x their 30-day moving avg

** Busiest session since April 15

** Avg analysts' rating is "buy" and median PT is 424.5 rupees - data compiled by LSEG

** YTD, AFCN down ~14%

($1 = 95.5325 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

May 11 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE LTD - SELECTED FOR RAILWAY REHABILITATION AND CONSTRUCTION IN EUROPE

• AFCONS INFRASTRUCTURE LTD - PROJECT VALUED AT 677.07 MILLION EUROS EXCLUDING TAXES

Source text: ID:nBSE3fTVLR

Further company coverage: AFCN.NS

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May 4 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE LTD - RECEIVES EPC ORDER WORTH 3.73 BILLION RUPEES IN APRIL 2026

Source text: ID:nBSEbbt8LF

Further company coverage: AFCN.NS

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March 17 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE LTD - ARBITRAL TRIBUNAL AWARDS 33.5 MILLION RUPEES TO AFCONS GUNANUSA JOINT VENTURE

Source text: ID:nBSE2GcgYT

Further company coverage: AFCN.NS

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Feb 10 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE LTD - DEC-QUARTER CONSOL NET PROFIT 970.9 MILLION RUPEES

• AFCONS INFRASTRUCTURE LTD - DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 29.76 BILLION RUPEES

Source text: ID:nnAZN4SFU5I

Further company coverage: AFCN.NS

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Feb 2 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE LTD - SECURES 100 MILLION EURO ROAD PROJECT IN UGANDA

Source text: ID:nPre6VP5ja

Further company coverage: AFCN.NS

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Jan 30 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• GETS ARBITRATION AWARD OF 270.3 MILLION RUPEES, BANK GUARANTEE 275.4 MILLION RUPEES

Source text: ID:nBSE4cB1Wk

Further company coverage: AFCN.NS

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** Afcons Infrastructure AFCN.NS rises 2% to 475 rupees

** Co secures contract worth 5.76 bln rupees ($64.9 mln) for civil, allied infra works

** More than 984,640 shares traded, 1.2x the 30-day avg

** Stock rated "strong buy" on average; median PT is 560 rupees, per data compiled by LSEG

** YTD, AFCN falls ~13%

($1 = 88.7320 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

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** Afcons Infrastructure AFCN.NS rises 3.87% to 422.45 rupees after Q1 PAT jumps 50% y/y

** Co's revenue rises 6.4%, benefiting from robust national spending on infra

** Core profit came in above expectations, Jefferies and DAM Capital say, citing strong execution of higher-margin orders

** Jefferies adds Afcons' target markets abroad are largely unaffected by tariff-related uncertainty, while domestic pipeline remains strong

** DAM Capital says co's substantial order backlog provides revenue growth visibility in the range of 20-25% for fiscal 2026

** YTD, AFCN down 22.5%

(Reporting by Ananta Agarwal in Bengaluru)

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** Shares of Afcons Infrastructure Ltd AFCN.NS rise as much as 3.7% to 434.3 rupees
** Infra co declared the lowest bidder by HŽ Infrastructure Ltd for construction of a railway line in the Republic of Croatia
** Adds, estimated value of contract is 68 bln rupees ($788.5 mln)
** Stock on track to gain for third straight day
** More than 2.2 mln shares traded as of 9:53 a.m. IST, 1.7x their 30-day moving avg
** Mean rating of stock is "strong buy"; their median PT is 560 rupees - data compiled by LSEG
** AFCN last up 2%, cutting YTD losses to 23.2%

($1 = 86.2350 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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July 21 (Reuters) - Four companies submitted bids for the rebuilding of an 83-km railway and construction of a new track in central Croatia, the country's largest rail project ever estimated to cost 620 million euros ($725 million), a state infrastructure operator said on Monday.

The reconstruction of the Dugo Selo-Novska railway track will be financed with European Union funds, HZ Infrastruktura said on its website.

A consortium of Ashoka Buildcon Ltd ABDL.NS, Serneke International Group AB and Konkan Railway Corp Ltd offered to perform the work for 780 million euros, HZ Infrastruktura said.

Afcons Infrastructure Ltd AFCN.NS has submitted a 677-million-euro bid, while Turkish companies Dogus Insaat ve Ticaret Anonim Sirketi and Cengiz Insaat Sanavi ve Ticaret A.S. have bid 990 million and 873 million euros respectively.

The bids will be evaluated in a timeframe provided by law and a contract signed after the selection of the economically most favourable offer, HZ Infrastruktura said. It is estimated that the works will last nearly six years.

($1 = 0.8592 euros)

(Reporting by Daria Sito-Sucic; Editing by Dale Hudson)

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