Afcons Infra shares jump 6% on Rs 700 crore LoA from Reliance Industries

Afcons Infrastructure share jumped nearly 6% to Rs 460.7 in Monday's trade on BSE after the company secured a work order from Reliance Industries.

“We are pleased to inform that Afcons Infrastructure Limited has been awarded a Letter of Award (LoA) from Reliance Industries Limited (RIL) for the execution of construction works related to the Vinyl Projects at Dahej, Gujarat,” the company said in an exchange filing.

The scope of work includes civil, mechanical, and associated works involving installation, testing, and commissioning. The contract is valued at approximately Rs 700 crore.


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Earlier in May, the company emerged as the lowest bidder (L1) for a water supply project covering 353 villages in Dungarpur district from Kadana Back Water (Mahi Dam) Package-1. The project is estimated at Rs 463.5 crore.

Afcons Infrastructure Q4 earnings

Afcons Infrastructure reported a 23% decline in consolidated net profit to Rs 110.92 crore for the quarter ended 31 March, compared to Rs 144.90 crore in the same period last year. Profit stood at Rs 148.85 crore in the previous quarter.

Revenue from operations came in at Rs 3,223.27 crore in Q4FY25, down from Rs 3,636.43 crore a year earlier. Sequentially, revenue was Rs 3,211.10 crore.

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Afcons Infra share price target and performance

According to Trendlyne, the average target price for Afcons Infra is Rs 543, indicating a potential upside of 21%. Among seven analysts tracking the stock, the consensus rating is ‘Strong Buy’.

As of 10:16 am, the stock was trading 3.1% higher at Rs 448.6 on the BSE. However, it has declined 14% over the past six months and 16% so far this year. Its current market capitalisation stands at Rs 16,498 crore.

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