Afcons Infrastructure shares rise 3% after securing Rs 4,787 crore Pune Ring Road project
Shapoorji Pallonji Group firm Afcons Infrastructure’s shares surged 3.5% in early trade to a high of Rs 496.70 on the BSE on Tuesday, January 14, as the company emerged as the lowest bidder (L1) for the Rs 4,787.20 crore tender floated by the Maharashtra State Road Development Corporation (MSRDC).
The civil construction company has been selected for two projects to construct the access-controlled Pune Ring Road (East) Packages PRR E5 and E7. Both projects are to be completed within 36 months.
The PRR E5 package involves the construction of Pune Ring Road (East) from Valati, Taluka Haveli to Sonori, Taluka Purandar, District Pune, with a bid cost of Rs 2,718.50 crore. The PRR E7 package entails the construction from Garade, Taluka Purandar to Shiware, Taluka Bhor, District Pune, with a bid cost of Rs 2,068.70 crore.
Afcons Infrastructure is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group, a diversified Indian conglomerate. With a legacy spanning over six decades, it has a strong track record of executing numerous technologically complex EPC projects both in India and internationally.
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