Afcons Infra Bags ₹1,283 Crore Marine Contract in Gujarat

Afcons Infrastructure Ltd has secured a ₹1,283 crore contract from Hindustan Gateway Container Terminal Kandla Private Ltd, a DP World group entity. The company announced on January 29 that it had received the letter of award (LOA) for the project, which involves the design and construction of a marine package at Tuna Tekra in Gujarat.

Project Details

The contract will be executed under the engineering, procurement, and construction (EPC) model. The work includes marine infrastructure development for the container terminal, with a completion deadline of 29 months. The project is part of ongoing developments in Gujarat’s port sector, aimed at expanding cargo-handling capacity.

Other Recent Contracts

Earlier this month, Afcons Infrastructure was declared the lowest bidder (L1) for two packages of the Pune Ring Road (East) project. The Maharashtra State Road Development Corporation Ltd. (MSRDC) awarded the company the PRR E5 and E7 packages, valued at ₹4,787.20 crore. This project also follows the EPC model and has a completion timeline of 36 months. 

So, this contract win adds to the company’s ongoing portfolio of infrastructure projects across India, particularly in transport and marine development.

Financial Performance

Afcons Infrastructure reported a net profit of ₹135 crore in the second quarter of the current fiscal, marking a 30% increase from ₹104 crore in the same period last year. The company’s total income stood at ₹3,090 crore for the July-September quarter, compared to ₹3,434 crore in the previous year’s quarter.

Shares of Afcons Infrastructure Limited were trading at ₹458.70 as of 12:20 PM today,  January 30, up 0.23% for the day but down 11.92% over the past month and 3.21% over the past year.

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