Afcons Infrastructure share price surges 4% as company wins ₹6,800 crore project

Afcons Infrastructure's share price surged 3.74% to ₹434.45 on July 22, 2025, after the company emerged as the lowest bidder for a ₹6,800 crore project in Croatia. The project involves rehabilitating and constructing a railway line, with an estimated completion time of 72 months. Afcons Infrastructure is a leading infrastructure, engineering, and construction company in India, part of the Shapoorji Pallonji Group.

Afcons Infrastructure's share price surged 3.74% to ₹434.45 on July 22, 2025, following the company's emergence as the lowest bidder for a ₹6,800 crore railway project in Croatia. The project involves the rehabilitation and construction of a railway line, with an estimated completion time of 72 months. This significant win comes as part of the company's ongoing expansion in the infrastructure and engineering sector.

The contract, awarded by HŽ Infrastruktura d.o.o. (HŽ Infrastructure Ltd), is valued at approximately Rs 6,800 crore. The project encompasses the reconstruction of the existing track, the construction of a second line, overhead electrification, and signalling and telecommunication work on the Dugo Selo–Novska railway route. This is the third major construction project order that Afcons Infrastructure has won in Croatia within a week, following two previous infrastructure contracts worth Rs 4,535 crore [3].

Prior to this, Afcons Infrastructure had received a Letter of Commitment from Reliance Industries for civil and structural construction work at Reliance's facility in Jamnagar, worth Rs 175 crore. The company's recent success in Croatia further underscores its capability to secure large-scale projects, both domestically and internationally. Afcons Infrastructure, part of the Shapoorji Pallonji Group, has a strong presence in over 25 countries, primarily in Africa and the Middle East, and completed over 60 projects overseas in the fiscal year 2025 [3].

Analysts have a positive outlook on Afcons Infrastructure's stock, with the average target price for the company at Rs 543, suggesting a potential upside of nearly 30% from current levels. Most analysts covering the stock have a ‘Strong Buy’ rating, indicating confidence in the company's future performance [1].

Reference List:
[1] https://m.economictimes.com/markets/stocks/news/afcons-infra-shares-in-focus-after-emerging-lowest-bidder-for-rs-6800-crore-railway-project-in-croatia/articleshow/122826670.cms
[2] https://www.business-standard.com/markets/capital-market-news/afcons-infrastructure-successfully-bids-for-railways-contract-in-croatia-125072101294_1.html
[3] https://www.financialexpress.com/business/industry-afcons-infra-bags-massive-rs-6800-crore-order-third-big-order-in-a-week-3922069/