Afcons Infrastructure Limited has informed regarding Disclosure of material issue
AFCONS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Afcons Infrastructure had been declared the Lowest Bidder (L1) for two road construction packages (J324/23 and J325/23) in Croatia for Croatian Motorways Ltd. The company has now received communication that both tenders have been cancelled because their quoted price exceeds the client's planned or secured financial resources. This is a continuation of an earlier intimation from July 17, 2025. The company will keep exchanges informed of any further developments.
This represents a lost opportunity for international road construction contracts. While no revenue was recognized from these tenders, the cancellation reflects that the company's pricing was uncompetitive for this client's budget constraints, potentially affecting future international bidding strategy.