 | |
| Formerly | Asia Foundations and Construction Limited |
|---|---|
| Company type | Public |
| NSE: AFCONS BSE: 544280 | |
| Industry | Infrastructure |
| Founded | 1959 |
| Headquarters | , India |
Area served | Worldwide |
Key people | Shapoor Pallonji Mistry (Chairman) |
| Revenue |  ₹13,646 crore (US$1.6 billion) (FY24)[1] |
| ₹1,583 crore (US$190 million) (FY24)[1] | |
| ₹449 crore (US$53 million) (FY24)[1] | |
| Parent | Shapoorji Pallonji Group |
| Website | afcons |
Afcons Infrastructure Limited is an Indian multinational construction and engineering company based in Mumbai. The company is involved in infrastructure EPC projects such as bridges, flyovers, metros, railway lines, tunnels, highways, ports and marine works, barrages, and oil and gas structures.[2][3] It has been a part of the Shapoorji Pallonji Group since 2000.
History
The company was founded in 1959 as Rodio Hazarat & Co, a joint venture between Rodio Foundation Engineering of Switzerland and Hazarat & Co of India. In the initial years, the company undertook foundation work of office buildings in Mumbai's then-business district Nariman Point. In 1976, the Swiss partner exited the joint venture by selling its stake to an employees-led consortium, owing to the Foreign Exchange Regulation Act legislation passed in 1973 which affected its business viability. The company was renamed as Asia Foundations and Construction in the same year.[4][5]
The company later expanded its business interests beyond foundation engineering to include marine construction (jetties, docks and harbours) and transportation works (roads and bridges). In 1997, the company was renamed to Afcons Infrastructure. In the 1990s, the company raised debt funding from ICICI, which later converted the debt to equity, obtaining a 47.37% stake by 1998.[4][5]
In 2000, the Shapoorji Pallonji Group acquired a majority stake in Afcons by buying out ICICI's entire stake and an additional 6.59% from promoter Hazarat family.[6][4] Shapoorji Pallonji Group eventually increased its stake to over 97% by acquiring shares held by employees.[7] Cyrus Mistry served as chairman from 2003 until 2012, when he was succeeded by his brother Shapoor Mistry.[5]
Notable projects
- Tunnels such as Atal Tunnel,[9] East–West Metro Tunnel (Kolkata),[10] USBRL T49 tunnel,[11] and Thane Creek undersea bullet train tunnel[12]
- Bridges such as Chenab Rail Bridge,[13] Airoli Bridge, KR Puram Bridge (Bangalore), Ram Jhula (Nagpur), Vembanad Rail Bridge (Kerala), Mahatma Gandhi Setu rehabilitation (Bihar),[14] and Thilamalé Bridge (Maldives)
- Port and marine projects including Dahej Port liquid cargo berth, Kochi LNG Terminal,[15] Chhara Port breakwater, and Sohar Port jetty (Oman)[16]
- Metro works in Kolkata,[17] Chennai,[18] Kanpur,[19] Bengaluru, Delhi, Mumbai, Kochi, Nagpur, Ahmedabad, and Delhi–Meerut RRTS
- Highway projects such as Udhampur–Jammu highway, Agra–Lucknow Expressway, and Samruddhi Mahamarg[20]
- Railway projects including Tema-Mpakadan Railway Line (Ghana)[21] and Dhaka-Chittagong railway corridor doubling[22]
- Water structures like Saraswati Barrage and Pakal Dul Dam
References
- ^ a b c "Annual Report 2023-24" (PDF). Afcons. Retrieved 28 September 2024.
- ^ "Afcons Infrastructure Limited Company Profile – India | Financials & Key Executives | EMIS". emis.com. Retrieved 30 June 2020.
- ^ "Afcons Infrastructure Ltd – Company Profile and News – Bloomberg Markets". Bloomberg.com. Retrieved 30 June 2020.
- ^ a b c "Afcons' golden moment". Business India. 15 November 2009. Retrieved 28 September 2024.
- ^ a b c Lall, Pavan (9 August 2015). "The company that Cyrus built". Fortune India. Retrieved 28 September 2024.
- ^ "Shapoorji Buys Out 47% Icici Stake In Afcons". Business Standard. 11 May 2000. Retrieved 5 July 2023.
- ^ Zachariah, Reeba (23 December 2006). "Shapoorji Pallonji readies IPO for arm". The Times of India. Retrieved 30 June 2020.
- ^ "A first in India: Nagpur's 4-level transport corridor". Mid-Day. 6 December 2022. Retrieved 16 October 2024.
- ^ Bisht, Gaurav (2 October 2020). "9-km-long Atal Tunnel an engineering marvel". Hindustan Times. Retrieved 13 February 2025.
- ^ "Afcons to build India's first underwater train tunnel, Bags Rs 938-Cr Project From Kolkata Metro Railway". The Economic Times. 22 March 2010. Retrieved 30 June 2020.
- ^ Shaikh, Mustafa (25 November 2022). "T49 tunnel, longest railway tunnel, in J-K to soon become pride of the nation". India Today. Retrieved 22 July 2025.
- ^ "Afcons awarded Rs 6,397 crore bullet train tunnel tender". The Economic Times. 9 June 2023. Retrieved 22 July 2025.
- ^ "Chenab Bridge, Jammu and Kashmir, India". Railway Technology. Retrieved 3 May 2023.
- ^ "India's longest steel bridge Mahatma Gandhi Setu to be fully functional by June 7th". The Economic Times. 31 May 2022. Retrieved 13 February 2025.
- ^ "Afcons eyes bigger role in LNG terminals". Business Standard. 12 February 2014. Retrieved 22 July 2025.
- ^ Joshi, Manish (6 January 2025). "Vadhvan Port a big bet for Afcons". Mint. PressReader.com. Retrieved 22 July 2025.
- ^ "Afcons Begins Kolkata Metro Line-6's D-Wall Work at Airport". The Metro Rail Guy. 20 February 2023. Retrieved 25 June 2023.
- ^ "Afcon Infra bags Rs 2,598-cr Chennai Metro Project". The Economic Times. 1 February 2011. Retrieved 30 June 2020.
- ^ Shah, Narendra (7 September 2019). "AFCONS Infra wins Rs 676 crore Civil Contract For Kanpur Metro". Metro Rail News. Retrieved 5 October 2020.
- ^ "Construction Package14". Maharashtra Samruddhi Mahamarg. Retrieved 5 May 2023.
- ^ "President of Ghana commissions $447-million railway line built by Afcons Infra". Moneycontrol. Retrieved 22 July 2025.
- ^ "Afcons, Ircon JV bags Rs 453-crore contract in Bangladesh". The Economic Times. 8 October 2013. Retrieved 30 June 2020.
- ^ Jazeera, Al. "Agaléga, a secret base, and India's claim to power". interactive.aljazeera.com. Retrieved 18 August 2022.
- Construction and civil engineering companies of India
- Companies based in Mumbai
- Indian companies established in 1959
- Construction and civil engineering companies established in 1959
- Shapoorji Pallonji Group
- Companies listed on the National Stock Exchange of India
- Companies listed on the Bombay Stock Exchange
- 2024 initial public offerings
- Multinational companies headquartered in India
