Afcons Infrastructure rallied 3.93% to Rs 556 after the company received a Letter of Intent (LoI) worth Rs 1,084.54 crore from the Government of India's Ministry of Defence and Defence Research and Development Organisation (DRDO).
The order involves the execution of work for the augmentation of MTC, creation of SAF, and installation of workshop equipment for the Ship Lift Facility (AMCSWF) at Visakhapatnam, Andhra Pradesh.The project will follow a design & build (D&B) concept and includes civil, mechanical, electrical, HVAC, ELV systems, furniture & interiors, and other associated works. The project is scheduled for completion within 36 months.
Afcons Infrastructure is flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group, a diversified Indian conglomerate. It has a legacy of over six decades, with strong track record of executing numerous technologically complex EPC projects both within India and internationally.
The companys consolidated net profit jumped 30% to Rs 135.43 crore despite of 11.22% decline in revenue from operations to Rs 2959.89 crore in Q2 FY25 over Q2 FY24.
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