Stock in Focus: Afcons Infrastructure Secures ₹503.86 Crore Order Under Jal Jeevan Mission

Afcons Infrastructure Limited, in partnership with the Hindustan Project, has been awarded a ₹503.86 crore project under the Jal Jeevan Mission. The project involves delivering water supply to 353 villages in Dungarpur, Rajasthan. This achievement strengthens Afcons’ portfolio and aligns with its expertise in infrastructure development.

Project Details and Scope of Work

The contract, awarded by the Public Health Engineering Department, Udaipur, entails:

• Water Source: Utilising water from the Kadana Back Water (Mahi Dam).
• Infrastructure Development: Construction of an intake well, a water treatment plant (WTP), and transmission systems leading to overhead storage reservoirs (OHSRs).
• O&M Phase: A 10-year operation and maintenance period, following a one-year defect liability phase.

Tax Demand Settlement

Afcons also addressed a tax demand of ₹4.04 lakh from the Kerala GST Department. This arose from the detention of a vehicle due to missing documents during goods transportation. The company resolved the matter promptly without contesting and paid the amount. It clarified that this incident would not materially impact its financials or operations.

Share Performance 

Afcons Infrastructure debuted on the NSE and BSE on November 4, 2024. While the stock was listed at a discount, it gained momentum and recently reached an all-time high of ₹559.30 as of December 6, 2024.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.