Afcons Infrastructure Ltd, part of the Shapoorji Pallonji Group, is a leading infrastructure engineering and construction company based in Mumbai, India, with a legacy dating back to 1959. Renowned for its expertise in delivering complex projects on time and within budget, Afcons specializes in Engineering, Procurement, and Construction (EPC) services across diverse sectors, including bridges, metros, tunnels, pipelines, roads, ports, and oil and gas infrastructure. With operations in over 25 countries across Asia, Africa, and the Middle East, it ranks 6th globally in Marine and Port facilities and 21st in the Bridges sector, also emerging as India’s top contractor in international transportation projects. Landmark achievements include the Chenab Rail Bridge in Jammu, the East West Metro Tunnel under Kolkata’s Hooghly River, the Atal Tunnel in Himachal Pradesh, Dahej Port in Gujarat, and metro corridors in Nagpur and Kanpur, showcasing its pivotal role in advancing global and Indian infrastructure.
Recent news on Afcons Infrastructure
Afcons Infrastructure Ltd made its stock market debut on November 4, 2024, with shares listing at a discount of 8% to the issue price, opening at ₹426 on the National Stock Exchange. Despite the subdued start, strong buying interest propelled the stock to close 11% higher at ₹472.60 on its debut day. The company raised ₹5,430 crore through its IPO, which included a fresh issue of ₹1,250 crore and an offer for sale of ₹4,180 crore, with the retail portion being subscribed 94%. Analysts are optimistic about Afcons Infrastructure’s long-term growth prospects, citing its strong market position, diverse project portfolio, and focus on infrastructure development as key factors that could drive future performance.
Below are the trading platforms that you can use to purchase Afcons Infrastructure shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| November 2024 | 505.05 | 439.18 |
| December 2024 | 510.10 | 443.57 |
As we approach the later months of 2024, Afcons Infrastructure’s share price is projected to demonstrate strong momentum. In November 2024, the maximum price is expected to reach ₹505.05, while the minimum price could settle at ₹439.18. As we step into December 2024, the share price is anticipated to rise further, with the maximum price projected at ₹510.10 and the minimum at ₹443.57
| When | Maximum Price | Minimum Price |
| January 2025 | 515.21 | 396.31 |
| February 2025 | 520.41 | 400.32 |
| March 2025 | 531.34 | 408.72 |
| April 2025 | 526.08 | 404.68 |
| May 2025 | 510.75 | 392.89 |
| June 2025 | 533.74 | 410.57 |
| July 2025 | 523.27 | 402.52 |
| August 2025 | 539.46 | 414.97 |
| September 2025 | 545.93 | 419.95 |
| October 2025 | 560.12 | 430.87 |
| November 2025 | 574.13 | 441.64 |
| December 2025 | 599.96 | 461.51 |
As we move through 2025, Afcons Infrastructure’s share price is projected to steadily rise. Starting with a maximum of ₹515.21 and a minimum of ₹396.31 in January, it is expected to grow to ₹531.34 and ₹408.72 by March. Mid-year trends suggest fluctuations, with prices reaching ₹533.74 and ₹410.57 in June and ₹539.46 and ₹414.97 in August. Towards the year-end, stronger growth is anticipated, with November seeing ₹574.13 and ₹441.64, and December closing at a peak of ₹599.96 and a minimum of ₹461.51.
| When | Maximum Price | Minimum Price |
| January 2026 | 617.96 | 475.36 |
| February 2026 | 602.51 | 463.47 |
| March 2026 | 614.56 | 472.74 |
| April 2026 | 627.11 | 482.39 |
| May 2026 | 620.90 | 477.61 |
| June 2026 | 636.42 | 489.55 |
| July 2026 | 623.94 | 479.95 |
| August 2026 | 643.24 | 494.80 |
| September 2026 | 656.10 | 504.69 |
| October 2026 | 673.16 | 517.82 |
| November 2026 | 689.99 | 530.76 |
| December 2026 | 707.24 | 544.03 |
| When | Maximum Price | Minimum Price |
| January 2027 | 714.31 | 549.47 |
| February 2027 | 732.63 | 563.56 |
| March 2027 | 761.20 | 585.54 |
| April 2027 | 746.27 | 574.06 |
| May 2027 | 724.54 | 557.34 |
| June 2027 | 757.14 | 582.42 |
| July 2027 | 742.30 | 571.00 |
| August 2027 | 765.25 | 588.66 |
| September 2027 | 792.04 | 609.26 |
| October 2027 | 812.63 | 625.10 |
| November 2027 | 832.95 | 640.73 |
| December 2027 | 853.77 | 656.75 |
| When | Maximum Price | Minimum Price |
| January 2028 | 870.85 | 669.88 |
| February 2028 | 893.18 | 687.06 |
| March 2028 | 928.01 | 713.85 |
| April 2028 | 909.81 | 699.86 |
| May 2028 | 883.31 | 679.47 |
| June 2028 | 923.06 | 710.05 |
| July 2028 | 904.96 | 696.13 |
| August 2028 | 932.95 | 717.66 |
| September 2028 | 965.61 | 742.77 |
| October 2028 | 990.71 | 762.09 |
| November 2028 | 1,015.48 | 781.14 |
| December 2028 | 1,040.87 | 800.67 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,061.68 | 816.68 |
| February 2029 | 1,088.91 | 837.62 |
| March 2029 | 1,131.37 | 870.29 |
| April 2029 | 1,109.19 | 853.22 |
| May 2029 | 1,076.88 | 828.37 |
| June 2029 | 1,125.34 | 865.65 |
| July 2029 | 1,103.28 | 848.68 |
| August 2029 | 1,137.40 | 874.92 |
| September 2029 | 1,177.21 | 905.55 |
| October 2029 | 1,207.82 | 929.09 |
| November 2029 | 1,238.01 | 952.32 |
| December 2029 | 1,268.96 | 976.12 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,294.34 | 995.65 |
| February 2030 | 1,327.53 | 1,021.18 |
| March 2030 | 1,379.30 | 1,061.00 |
| April 2030 | 1,352.26 | 1,040.20 |
| May 2030 | 1,312.87 | 1,009.90 |
| June 2030 | 1,371.95 | 1,055.35 |
| July 2030 | 1,345.05 | 1,034.65 |
| August 2030 | 1,386.65 | 1,066.65 |
| September 2030 | 1,435.18 | 1,103.99 |
| October 2030 | 1,472.50 | 1,132.69 |
| November 2030 | 1,509.31 | 1,161.01 |
| December 2030 | 1,547.04 | 1,190.03 |
As we move into 2030, Afcons Infrastructure’s share price is projected to exhibit significant growth. Starting in January with a maximum of ₹1,294.34 and a minimum of ₹995.65, the upward trend is expected to continue, reaching ₹1,379.30 and ₹1,061.00 by March. Mid-year, June is anticipated to see prices at ₹1,371.95 and ₹1,055.35, while August projects ₹1,386.65 and ₹1,066.65. Toward the year-end, strong performance is forecasted, with November reaching ₹1,509.31 and ₹1,161.01, and December culminating at a high of ₹1,547.04 and a minimum of ₹1,190.03.
Financial Condition of Afcons Infrastructure
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 9,934 | 9,376 | 11,019 | 12,637 | 13,268 |
| Expenses + | 9,113 | 8,505 | 10,076 | 11,305 | 11,890 |
| Operating Profit | 821 | 870 | 943 | 1,333 | 1,377 |
| OPM % | 8% | 9% | 9% | 11% | 10% |
| Other Income + | 186 | 138 | 244 | 185 | 367 |
| Interest | 391 | 468 | 425 | 447 | 577 |
| Depreciation | 240 | 250 | 355 | 472 | 495 |
| Profit before tax | 376 | 290 | 407 | 599 | 673 |
| Tax % | 34% | 42% | 12% | 31% | 33% |
| Net Profit + | 248 | 170 | 358 | 411 | 450 |
| EPS in Rs | 34.12 | 23.2 | 49.51 | 57.09 | 13.2 |
| Dividend Payout % | 10% | 15% | 7% | 7% | 19% |
Afcons Infrastructure has demonstrated steady financial growth from March 2020 to March 2024. The company’s sales revenue rose consistently, increasing from ₹9,934 crore in March 2020 to ₹13,268 crore in March 2024, indicating a robust expansion of its operations. Correspondingly, expenses also grew, from ₹9,113 crore to ₹11,890 crore during the same period, but operating efficiency remained stable.
The operating profit climbed from ₹821 crore in March 2020 to ₹1,377 crore in March 2024, with the operating profit margin (OPM%) peaking at 11% in March 2023 before settling at 10% in March 2024. The company’s other income also increased significantly to ₹367 crore in March 2024, further strengthening its profitability.
While interest costs and depreciation grew, reflecting ongoing investments and financing, the profit before tax (PBT) improved from ₹376 crore to ₹673 crore over the five years. Afcons Infrastructure maintained a tax rate that fluctuated, ending at 33% in March 2024. Net profit showed notable growth, increasing from ₹248 crore in March 2020 to ₹450 crore in March 2024, supported by strong operational and other income contributions.
Despite fluctuations in earnings per share (EPS), which was ₹13.2 in March 2024 due to adjustments, Afcons Infrastructure increased its dividend payout ratio significantly to 19% in March 2024, reflecting its commitment to shareholder returns. This financial performance underscores the company’s stability and its potential for sustainable growth in the infrastructure sector.
FAQS
As of November 17th, 2024, the current share price of Afcons Infrastructure is ₹475.
According to market analysts and financial experts, the share price target for Afcons Infrastructure for 2025 is estimated to be between ₹392.89 to ₹599.96.
Looking ahead, Afcons Infrastructure share price is anticipated to reach impressive heights, ranging from ₹995.65 to ₹1,547.04 by 2030, highlighting the company’s promising long-term growth prospects.
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Conclusion
Afcons Infrastructure Ltd, a key player in the infrastructure sector under the Shapoorji Pallonji Group, has showcased robust financial growth and operational excellence over the years. With a steady increase in sales revenue, operating profit, and net profit from March 2020 to March 2024, the company has demonstrated resilience and efficiency despite rising expenses. The significant improvement in its operating profit margin, increasing from 8% to 10%, coupled with a notable rise in other income, highlights Afcons’ ability to optimize its financial structure while investing in growth initiatives.
The company’s successful IPO in November 2024, raising ₹5,430 crore, underlines strong market confidence in its long-term potential. The share price’s positive momentum post-listing and projections for significant growth in the coming years, including a target range of ₹995.65 to ₹1,547.04 by 2030, reaffirm its promising future. Afcons Infrastructure’s impressive track record of delivering complex projects, both in India and globally, positions it as a cornerstone of infrastructure development, further strengthening its growth trajectory and investor appeal.
What did we learn?
- 1 Recent news on Afcons Infrastructure
- 2 How to Buy Afcons Infrastructure Shares in India?
- 3 Afcons Infrastructure Share Price Prediction: 2024 to 2030
- 3.1 Afcons Infrastructure Share Price Target 2024
- 3.2 Afcons Infrastructure Share Price Target 2025
- 3.3 Afcons Infrastructure Share Price Prediction 2026
- 3.4 Afcons Infrastructure Share Price Target 2027
- 3.5 Afcons Infrastructure Share Price Target 2028
- 3.6 Afcons Infrastructure Share Price Target 2029
- 3.7 Afcons Infrastructure Share Price Prediction 2030
- 4 Financial Condition of Afcons Infrastructure
- 5 FAQS
- 6 Conclusion
