As the lowest bidder (L1) for the Rs 4,787.20 crore offer issued by the Maharashtra State Road Development Corporation (MSRDC), Afcons Infrastructure, a company owned by the Shapoorji Pallonji Group, saw its shares jump 3.5% in early trading to a high of Rs 496.70 on the BSE on Tuesday, January 14.
For the two projects of building the access-controlled Pune Ring Road (East) Packages PRR E5 and E7, the civil construction business has been chosen. The deadline for both projects is 36 months.
With a bid cost of Rs 2,718.50 crore, the PRR E5 package entails building the Pune Ring Road (East) from Valati, Taluka Haveli to Sonori, Taluka Purandar, District Pune. With a bid cost of Rs 2,068.70 crore, the PRR E7 package includes construction from Garade, Taluka Purandar to Shiware, Taluka Bhor, District Pune.
The flagship infrastructure engineering and construction firm of the diverse Indian conglomerate Shapoorji Pallonji Group is called Afcons Infrastructure. It has a solid track record of completing several technically challenging EPC projects in India and abroad, with a legacy spanning more than 60 years.
Despite an 11.22% drop in operating revenue to Rs 2,959.89 crore in Q2 FY25 compared to Q2 FY24, the company’s consolidated net profit increased 30% to Rs 135.43 crore.
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