About Company

• Afcons Infrastructure is the flagship infrastructure, engineering and construction company of the Shapoorji Pallonji group, a diversified Indian conglomerate, and has a legacy of over 6 decades.

• The company’s projects cover 5 major infrastructure business verticals (i) Marine and Industrial (ii) Surface Transport (iii) Urban Infrastructure, (iv) Hydro and Underground and (v) Oil and Gas Projects. The company has extensive international operations and has delivered projects in 30 countries since its inception. The company has a transnational presence in almost the entire spectrum of infrastructure activities.

• The company won the MIKE (Most Innovative Knowledge Enterprise) award from 2018 to 2023 at India and Global levels. The company has also won the Outstanding Global MIKE Award in 2023. The company was also accorded the status of Five Star Export House in accordance with the provisions of the Foreign Trade Policy 2023 by the Indian government in 2023.

• The company has longstanding relationships with several private and government clients globally. This includes Arcelor Mittal, an association of over 10 years, ARISE Integrated Industrial Platforms (IIP) an association of over 5 years, and a leading global food and agribusiness company headquartered in Singapore, which is a client across various business verticals.

• During the last 11 financial years and the 3-month period ended June 30, 2024, the company has successfully completed 79 projects across 17 countries with a total historic executed contract value of ? 56,305 Cr. As of June 30, 2024, the company has 65 active projects across 12 countries, aggregating to an order book of ?31,747 Cr. Additionally, as of September 30th, 2024, the company was an ‘L1 bidder’ in projects worth ? 10,732.36 Cr.

• The company’s healthy order book has contributed to strong financial performance. For the 3 months ended June 30, 2024, and 2023 and the FY 2024, 2023 and 2022, the company’s revenue from operations amounted to ?3,154.36 Cr, ? 3,171.41 Cr, ?13,267.49 Cr, ?12,637.38 Cr, and ?11,018.97 Cr, respectively, and the EBITDA amounted to ?371.69 Cr, ?314.06 Cr, ?1,583.12 Cr, ?1,373.79 Cr, and ?1,068.59 Cr, respectively.

• The company has worked on several complex projects some of which include Chenab Bridge- tallest single-arch railway bridge in the world, Atal Tunnel - the world’s longest highway tunnel located at 3,000 metres above sea level. Some of the company’s ongoing projects include Kolkata Metro- Design and construction of tunnels below the Hooghly River; Male to Thilafushi Link Project, Maldives and Construction of a 21 km long tunnel including India’s first undersea rail tunnel (7 km long) for the Mumbai – Ahmedabad high speed rail corridor.

Strengths

Competitive Strength 

• Strong Track Record of Timely Execution of Large-Scale, Complex and High-Value Projects;
• Diversified Order Book across Geographies, Clients, and Business Verticals, Longstanding Relationships with Clients Globally, and Strong Financial Performance;
• Collaboration among Internal Teams and with JV counterparties, and a Strategic Equipment Base leading to Strong Execution Capabilities;
• Knowledge Management and Innovation Practices;
• Experienced Leadership Team with Shapoorji Pallonji Group parentage;
• Strong Risk Management, Project Selection and Dispute Resolution Processes.

 Business Strategies 

• Selectively Pursue Large Value and Complex Projects;
• Maximizing Opportunities in Existing Markets and Expanding Footprint in Overseas Markets;
• Focus on Cost Management;
• Optimizing Project Execution and Management;
• Growing a highly skilled and motivated workforce and strengthening the equipment base.

Company Promoters

Company Financials

Afcons Infrastructure Limited's revenue increased by 6% and profit after tax (PAT) rose by 9% between the financial year ending with March 31, 2024 and March 31, 2023.

Objects of the Issue

The Company proposes to utilise the Net Proceeds towards funding the following objects

• Capital expenditure towards purchase of construction equipment
• Funding long term working capital requirements
• Prepayment or scheduled repayment of a portion of certain outstanding borrowings and acceptances availed by the Company
• General corporate purpose