Afcons Infrastructure Ltd, part of the Shapoorji Pallonji Group, announced that it has secured a civil and allied infrastructure works contract worth ₹576 crore (including GST) as part of its regular business operations.
MCA Inspection Extended to FY2024–25
In a separate regulatory filing, Afcons disclosed that it has received an inspection letter under Section 206(5) of the Companies Act, 2013, from the Regional Director, Western Region, Ministry of Corporate Affairs (MCA).
The letter extends the scope of the ongoing inspection, originally covering FY2018–19 to FY2022–23, to now include FY2023–24 and FY2024–25, and additional projects. The MCA has sought clarifications on certain alleged non-compliances and accounting-related matters linked to these projects.
Afcons stated that it believes its legal position is sound and that it intends to vigorously defend its case, assuring stakeholders that it will respond appropriately to the ministry’s communication.
Ongoing International Projects
Earlier this year, on July 21, Afcons had been declared the lowest bidder by HŽ Infrastruktura d.o.o. for a railway rehabilitation and construction project in Croatia.
The project—valued at approximately €677 million (₹6,800 crore)—involves reconstruction and double-tracking of the Dugo Selo–Novska railway line, including electrification and signalling works, with a completion timeline of 72 months.
Summary:
Afcons Infrastructure has bagged a ₹576 crore civil works contract while also facing an extended MCA inspection covering additional fiscal years and projects. The company maintains confidence in its legal stance even as it continues to expand globally, notably through its €677 million Croatian railway project.
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