Afcons Infra secures LoC for contract worth ₹175 Crore from RIL

2 Jul 2025 , 12:41 PM

Afcons Infrastructure informed the bourses and shareholders that it received a Letter of Commitment (LoC) worth ₹175 Crore from Reliance Industries Ltd. The contract is for construction works.

The project pertains to civil & structural erection work at Jamnagar, Gujarat, a stock exchange filing shows.

The company informed that both parties should mutually decide the tentative timeline for completing the work. As per the company, the estimated contract value is ₹175 Crore. However, the payment shall be made on an actual basis in proportion to work executed as per the contract, according to the company’s filing.

The company’s Managing Director Paramasivan Srinivasan stated that it is targeting a strong 20–25% revenue growth in FY26, holding up from a subdued FY25. 

The company’s growth prospects are supported by a strong order book. Afcons issued a guidance of ₹30,000–35,000 Crore in total orders for FY26. The company is also competing for a major project in Dubai.

At around 12.33 PM, Afcons Infra was trading 1.12% lower at ₹428.55, against the previous close of ₹433.40 on NSE. The counter touched an intraday high and low of ₹435.35, and ₹425.60, respectively.

Afcons Infrastructure marked its debut on the stock exchanges in November 2024.

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