Afcons Infrastructure secures landmark contract from DRDO worth ₹1084.54 crore

The project includes addition of the Material Transfer Complex, creation of the Ship Assembly Facility, and workshop equipment installation

Afcons Infrastructure Limited has secured a landmark contract worth ₹1084.54 crore from the Defence Research and Development Organisation (DRDO) of the Indian Government. The project, to be completed within 36 months, involves the construction of a critical defense infrastructure project in Visakhapatnam.

The scope of work includes the development of a Material Transfer Complex, the establishment of a Ship Assembly Facility, and the installation of state-of-the-art workshop equipment for the Advanced Ship Lift Facility (AMCSWF). This project is crucial for enhancing India's maritime defense capabilities.

This is a significant win for Afcons Infrastructure, solidifying its position as a key player in the Indian infrastructure sector. The company's expertise in executing complex projects, coupled with DRDO's trust, demonstrates its commitment to delivering high-quality and innovative solutions.

The news of this major contract award was well-received by the market. Shares of Afcons Infrastructure surged 1.38% on the BSE, reflecting investor optimism. The company's market capitalization currently stands at ₹19,978 crore. Afcons Infrastructure Limited is the flagship infrastructure, engineering, and construction company of the Shapoorji Pallonji Group, a diversified Indian conglomerate with over six decades of legacy.

Disclaimer: This article is intended for informational purposes only and should not be considered as investment advice.