Afcons Infra issues corrigendum on DRDO contract of Rs 10 Bn
ECONOMY & POLICY

Afcons Infra issues corrigendum on DRDO contract of Rs 10 Bn

Shapoorji Pallonji group firm Afcons Infrastructure Ltd filed a corrigendum to its prior communication dated January 3, 2025, claiming the acquisition of a Rs 10 billion contract from the Defence Research and Development Organisation (DRDO).

Afcons Infrastructure stated in a regulatory filing that it received a Letter of Intent from the Government of India, Ministry of Defence, Defence Research and Development Organisation (DRDO) on January 3, 2025, in accordance with Regulation 30 of the SEBI (LODR) Regulation, 2015.

The project incorporates infrastructure development on an Engineering, Procurement, and Construction (EPC) basis and is expected to be completed within 36 months. The Ministry of Defence, part of the Indian government, granted the contract.

Afcons Infrastructure has secured orders of Rs 190 billion till September 2024 and expects additional inflows of roughly Rs 50 billion for the rest of the year, above its earlier guidance of Rs 200 billion.

In Maharashtra, over the last year or so, they have done the bidding of Rs 600- 700 billion, and we have bagged close to Rs 80-10 billion, where we have already received the contract, or we are the lowest bidder (L1). According to Jha, several of the projects did not have open bidding.

Shapoorji Pallonji group firm Afcons Infrastructure Ltd filed a corrigendum to its prior communication dated January 3, 2025, claiming the acquisition of a Rs 10 billion contract from the Defence Research and Development Organisation (DRDO). Afcons Infrastructure stated in a regulatory filing that it received a Letter of Intent from the Government of India, Ministry of Defence, Defence Research and Development Organisation (DRDO) on January 3, 2025, in accordance with Regulation 30 of the SEBI (LODR) Regulation, 2015. The project incorporates infrastructure development on an Engineering, Procurement, and Construction (EPC) basis and is expected to be completed within 36 months. The Ministry of Defence, part of the Indian government, granted the contract. Afcons Infrastructure has secured orders of Rs 190 billion till September 2024 and expects additional inflows of roughly Rs 50 billion for the rest of the year, above its earlier guidance of Rs 200 billion. In Maharashtra, over the last year or so, they have done the bidding of Rs 600- 700 billion, and we have bagged close to Rs 80-10 billion, where we have already received the contract, or we are the lowest bidder (L1). According to Jha, several of the projects did not have open bidding.

Next Story
Infrastructure Energy

NTPC Signs $11.5 Billion Clean Energy Deals in Chhattisgarh

Juniper Green Energy has successfully commissioned a 100-MW solar power project aimed at supplying electricity to Bhutan, marking a significant milestone in regional energy integration. According to the company's statement, the project facilitates a crucial cross-border agreement allowing Bhutan to receive 50% of the power generated during the winter months. This arrangement permits Bhutan to directly import power from an Indian generator under an established bilateral trade framework. Located in Rajasthan, the solar project contributes a total generation capacity of 100 MW. Highlighting the..

Next Story
Infrastructure Energy

Juniper Green Commissions 100-MW Solar Project for Bhutan

The New Delhi Municipal Council (NDMC) held its first council meeting since the Delhi Assembly polls focusing on a comprehensive Summer Action Plan aimed at achieving 100% solar energy adoption by 2026. The meeting, led by MP Bansuri Swaraj, began with the swearing-in of three new NDMC members — Delhi Minister and New Delhi MLA Parvesh Sahib Singh, Delhi Cantt. MLA Virender Singh Kadian, and Ravi Kumar Arora, Additional Secretary of the Ministry of Housing and Urban Affairs. Solar Energy Push NDMC Vice Chairman Kuljeet Singh Chahal announced the civic body's ambitious solar energy plans, ..

Next Story
Infrastructure Energy

NDMC Pushes for 100% Solar Energy by 2026

Mumbai-based energy storage startup AmpereHour Energy has raised $5 million from Avaana Capital, with participation from UC Impower and other angel investors. Founded in 2017 by IIT Bombay alumni, AmpereHour Energy focuses on building AI/ML-enabled Energy Storage Systems ranging from kW/kWh scale systems for Mini-grids to MW/MWh scale systems compatible with solar PV and wind plants. The systems are designed to be plug-and-play, integrated with the company’s proprietary Energy Management platform, Elina. The fresh capital will be directed towards expanding manufacturing and software capabi..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?