Afcons Infra share price hits all-time high on getting LoI for ₹1,084 crore work order from DRDO

The stock rose as much as 6.62% to ₹570 per share - its all-time high level- on the National Stock Exchange (NSE). At 1:42 pm, it was trading at ₹548 apiece, up 2.51%

The company's market capitalisation stands at ₹20,320.10 crore.

In an exchange filing on Friday, Afcons Infra informed that it received an LoI from the Defence Research and Development Organisation (DRDO) for the "augmentation of MTC, creation of SAF, and workshop equipment for the ship lift facility (AMCSWF) at Visakhapatnam".

The order size is ₹1,084.54 crore. The deadline for project execution is 36 months.

Last month, the company had bagged ₹1,006.74 crore project from Madhya Pradesh Metro Rail Co Ltd. The project is related to "part design and construction of elevated via duct, thirteen (13) elevated metro stations which will connect Bhadbhada Chauraha to Ratnagiri Tiraha (excluding an elevated passenger interchange metro rail station), between chainage 50+000 and 62+915 and access to depot between chainages 00+143 and 01+080 for Blue Line" for Bhopal Metro Rail Project.

Afcons Infra gains nearly 30% since listing

Afcons Infra shares made their stock market debut in November 2024 at ₹426 a unit, a discount of 7.99% from the issue price of ₹463.

Since listing, the scrip has gained 29.69%.

The ₹5,430 crore initial public offer consisted of a fresh issue worth ₹1,250 crore and an offer-for-sale (OFS) of ₹4,180 crore.

Afcons Infrastructure is involved in the execution of complex engineering, procurement and construction projects in India and overseas.

The company posted a 30% increase in its profit after tax (PAT) to ₹135.43 crore for the September quarter of the current fiscal, compared to ₹104.8 crore net profit a year back. Its total income declined 10% to ₹3,089.58 crore in Q2 FY25, as against ₹3,433.84 crore in the corresponding period last fiscal.