Shares of Afcons Infrastructure Ltd. got here underneath sharp promoting strain on Monday, 18 Could, with the inventory slipping practically 8% throughout early commerce after the corporate disclosed the cancellation of two abroad street development tenders in Croatia. Investor sentiment additionally remained cautious forward of the corporate’s fourth-quarter earnings announcement scheduled for later within the day.
In a regulatory submitting dated 16 Could, Afcons knowledgeable exchanges that Croatian Motorways Ltd. had withdrawn two beforehand awarded street infrastructure packages after figuring out that the corporate’s bid values exceeded the monetary assets allotted for the tasks.
The contracts have been linked to freeway development works within the Republic of Croatia, the place Afcons had earlier emerged because the lowest bidder in July 2025.
Regardless of the setback, the Shapoorji Pallonji Group firm not too long ago secured a significant breakthrough in Europe. Final week, Afcons introduced that it had been chosen as probably the most appropriate bidder for an enormous railway modernization challenge on Croatia’s Dugo Selo–Novska hall.
The challenge, valued at €677.07 million (round Rs 7,544 crore), marks the corporate’s entry into the European infrastructure market and stands as its largest worldwide order up to now.
The scope of the railway challenge consists of reconstruction of the prevailing rail monitor, growth of a second line, overhead electrification, signalling programs, and telecommunication infrastructure. The challenge is predicted to strengthen Afcons’ world execution portfolio and increase its presence in high-value worldwide transport infrastructure.
During the last six months, Afcons has continued to construct its order e book aggressively. Earlier this month, the corporate additionally secured EPC and tunnelling contracts value Rs 373 crore, in response to its alternate disclosures.
Even after the current correction, market contributors stay targeted on the corporate’s increasing worldwide pipeline and execution capabilities. Nevertheless, the cancellation of the Croatia street tasks has raised issues round order conversion and funding visibility in abroad markets.
At 11:59 am, the shares of Afcons Infra have been buying and selling 6.89% decrease at Rs 313.30 on NSE.
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