Afcons Infrastructure
{{short description|Indian construction and engineering company}}
{{Use Indian English|date=July 2020}}
{{Use dmy dates|date=September 2020}}
{{Infobox company
| name = Afcons Infrastructure Limited
| logo = AFCONS logo.svg
| logo_size = 250px
| former_name = Asia Foundations and Construction Limited
| type = Public
| traded_as = {{NSE|AFCONS}}
{{BSE|544280}}
| industry = Infrastructure
| founded = 1959
| hq_location_city = Mumbai, Maharashtra
| hq_location_country = India
| area_served = Worldwide
| key_people = Shapoor Pallonji Mistry (Chairman)
| revenue = {{up}} {{INRconvert|13646|c}} (FY24)
| operating_income = {{up}} {{INRconvert|1583|c}} (FY24)
| profit = {{up}} {{INRconvert|449|c}} (FY24){{cite news |title=Annual Report 2023-24|url=https://www.afcons.com/sites/default/files/2024-07/Full%20-%20Afcons%20Annual%20Report%202024_Low_0.pdf|access-date=28 September 2024 |work=Afcons}}
| parent = Shapoorji Pallonji Group
| website = {{URL|https://afcons.com}}
}}
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.{{Cite web|title=Afcons Infrastructure Limited Company Profile – India {{!}} Financials & Key Executives {{!}} EMIS|url=https://www.emis.com/php/company-profile/IN/Afcons_Infrastructure_Limited_en_2586695.html|access-date=30 June 2020|website=emis.com}}{{Cite web|title=Afcons Infrastructure Ltd – Company Profile and News – Bloomberg Markets|url=https://www.bloomberg.com/profile/company/6595396Z:IN|access-date=30 June 2020|website=Bloomberg.com}} 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.{{cite news |title=Afcons’ golden moment |url=https://businessindia.co/magazine/afcons-golden-moment |access-date=28 September 2024 |work=Business India |date=15 November 2009 |language=en}}{{cite news |last1=Lall |first1=Pavan |title=The company that Cyrus built |url=https://www.fortuneindia.com/people/the-company-that-cyrus-built/100391 |access-date=28 September 2024 |work=Fortune India |date=9 August 2015 |language=en}}
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.
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.{{cite news |title=Shapoorji Buys Out 47% Icici Stake In Afcons |url=https://www.business-standard.com/article/specials/shapoorji-buys-out-47-icici-stake-in-afcons-100051101073_1.html |access-date=5 July 2023 |work=Business Standard |date=11 May 2000}} Shapoorji Pallonji Group eventually increased its stake to over 97% by acquiring shares held by employees.{{Cite web|date=December 23, 2006|first=Reeba|last=Zachariah|title=Shapoorji Pallonji readies IPO for arm|url=https://timesofindia.indiatimes.com/business/india-business/Shapoorji-Pallonji-readies-IPO-for-arm/articleshow/903974.cms|access-date=30 June 2020|website=The Times of India|language=en}} Cyrus Mistry served as chairman from 2003 until 2012, when he was succeeded by his brother Shapoor Mistry.
Notable projects
{{multiple image
| direction = vertical
| align = right
| image1 = FsORR8 XoAA5GL2.jpg
| image2 = Atal Tunnel 01.jpg
| image3 = Nagpur-Metro.webp
| caption1 = Chenab Rail Bridge in Jammu division
| caption2 = North portal of Atal Tunnel, at an altitude of 10,075 ft
| caption3= Nagpur's four-level corridor comprising underpass, railway line, highway and metro{{cite news |title=A first in India: Nagpur’s 4-level transport corridor |url=https://www.mid-day.com/mumbai/mumbai-news/article/a-first-in-india-nagpurs-4-level-transport-corridor-23259194 |access-date=16 October 2024 |work=Mid-Day |date=6 December 2022 |language=en}}
}}
- Atal Tunnel{{cite news |last1=Bisht |first1=Gaurav |title=9-km-long Atal Tunnel an engineering marvel |url=https://www.hindustantimes.com/cities/9-km-long-atal-tunnel-an-engineering-marvel/story-hxYuskhbvkFAmQK1uQD1YK.html |access-date=13 February 2025 |work=Hindustan Times |date=2 October 2020 |language=en-us}}
- Chhara Port
- Chenab Rail Bridge{{Cite web |title=Chenab Bridge, Jammu and Kashmir, India |url=https://www.railway-technology.com/projects/chenab-bridge-jammu-kashmir/ |access-date=2023-05-03 |website=Railway Technology |language=en-US}}
- Dahej Port liquid cargo berth
- Kolkata Metro Orange Line{{Cite web |date=2023-02-20 |title=Afcons Begins Kolkata Metro Line-6's D-Wall Work at Airport |url=https://themetrorailguy.com/2023/02/20/afcons-begins-kolkata-metro-line-6s-d-wall-work-at-airport/ |access-date=2023-06-25 |website=The Metro Rail Guy |language=en-US}}
- Chennai Metro Blue Line{{Cite news|date=1 February 2011|title=Afcon Infra bags Rs 2,598-cr Chennai Metro Project|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/services/property-/-cstruction/afcon-infra-bags-rs-2598-cr-chennai-metro-project/articleshow/7404891.cms|access-date=30 June 2020}}
- Airoli Bridge
- Udhampur–Jammu highway
- KR Puram Bridge, Bangalore
- Kanpur Metro{{Cite web|date=2019-09-26|title=Kanpur Metro project gets going from Oct 2 with pillar construction|url=https://www.hindustantimes.com/cities/kanpur-metro-project-gets-going-from-oct-2-with-pillar-construction/story-7BFBlhjLsLAI9vQS7QCbyH.html|access-date=2020-10-05|website=Hindustan Times|language=en}}{{Cite web|last=Shah|first=Narendra|date=2019-09-07|title=AFCONS Infra wins Rs 676 crore Civil Contract For Kanpur Metro|url=https://www.metrorailnews.in/afcons-infra-wins-rs-676-crore-civil-contract-for-kanpur-metro/|access-date=2020-10-05|website=Metro Rail News|language=en-US}}
- East–West Metro Tunnel, Kolkata{{Cite news|date=22 March 2010|title=Afcons to build India's first underwater train tunnel, Bags Rs 938-Cr Project From Kolkata Metro Railway|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/transportation/railways/afcons-to-build-indias-first-underwater-train-tunnel-bags-rs-938-cr-project-from-kolkata-metro-railway/articleshow/5710331.cms|access-date=30 June 2020}}
- Namma Metro, Bangalore
- New railway bridge adjacent to Rajendra Setu on River Ganga in Begusarai, Bihar
- Dhaka-Chittagong railway corridor doubling{{Cite news|date=8 October 2013|title=Afcons, Ircon JV bags Rs 453-crore contract in Bangladesh|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/indl-goods/svs/construction/afcons-ircon-jv-bags-rs-453-crore-contract-in-bangladesh/articleshow/23727498.cms|access-date=30 June 2020}}
- Ram Jhula, Nagpur
- Samruddhi Mahamarg Package-14 and Package-02{{cite web |url=https://www.mahasamruddhimahamarg.com/construction-package14/ |title=Construction Package14 |publisher=Maharashtra Samruddhi Mahamarg |access-date=2023-05-05}}
- Pandoh-Takoli
- T49 Tunnel, Jammu & Kashmir
- Vembanad Rail Bridge, Kerala
- Agaléga Military Base, Mauritius{{Cite web |last=Jazeera |first=Al |title=Agaléga, a secret base, and India’s claim to power |url=https://interactive.aljazeera.com/aje/2021/island-of-secrets/index.html |access-date=2022-08-18 |website=interactive.aljazeera.com |language=en}}
- Mahatma Gandhi Setu rehabilitation{{cite news |title=India's longest steel bridge Mahatma Gandhi Setu to be fully functional by June 7th |url=https://economictimes.indiatimes.com/news/new-updates/indias-longest-steel-bridge-mahatma-gandhi-setu-to-be-fully-functional-by-june-7th/articleshow/91859612.cms |access-date=13 February 2025 |work=The Economic Times |date=31 May 2022}}
- Kochi Metro
- Delhi–Meerut Regional Rapid Transit System
- Saraswati Barrage
- Agra–Lucknow Expressway
- Thilamalé Bridge, Maldives
- Tema-Mpakadan Railway Line, Ghana
References
{{reflist}}
Category:Construction and civil engineering companies of India
Category:Companies based in Mumbai
Category:Indian companies established in 1959
Category:Construction and civil engineering companies established in 1959
Category:Shapoorji Pallonji Group
Category:Companies listed on the National Stock Exchange of India