Afcons Infrastructure Limited has informed the Exchange about Bagging/Receiving of orders/contracts-Company being declared Lowest Bidder by M/s. HZ INFRASTRUTURA d.o.o (HZ Infrastructure Ltd) for rehabilitation and construction of Railway line in the Republic of Croatia.
AFCONS · price
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On the reaction day the stock moved 2.4 pts more than Nifty Smallcap 250 and 2.4 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Afcons Infrastructure has been declared the Lowest Bidder (L1) by HŽ Infrastruktura d.o.o., the Croatian state-owned railway infrastructure company, for rehabilitation and construction of a railway line in Croatia. The project covers reconstruction of the existing track and construction of a second track on the Dugo Selo–Novska line, including overhead electrification, signalling and telecommunication works. The estimated contract value is EUR 677.07 million (approximately Rs. 6,800 crores), with a completion period of 72 months from the date of commencement. The company is yet to receive the formal award — being L1 only confirms lowest-price status. The currency used is Euro, converted at INR 100.44 per Euro.
This is a significant overseas win that would meaningfully boost Afcons' order book and provide hard-currency revenue, but the contract is not yet formally awarded, so execution certainty still depends on the final award and possible price negotiation. Positive sentiment likely for the stock given the size and international nature of the project.