Afcons Infrastructure Limited has informed the Exchange regarding a press release dated August 28, 2025, titled "Afcons elevates Shapoorji Mistry as Chairman Emeritus, Krishnamurthy Subramanian as Executive Chairman, and inducts Pallon S Mistry to its Board".
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Afcons Infrastructure has announced key board changes effective August 28, 2025. Shapoorji Mistry, who chaired the company for over 13 years, moves to a non-board honorary role of Chairman Emeritus. Krishnamurthy Subramanian, currently Executive Vice Chairman and a 22-year veteran, takes over as Executive Chairman. Pallon S Mistry, representing the next generation of the promoter Shapoorji Pallonji family, joins the Board as a Non-Executive Director. The release highlights that under Shapoorji Mistry's tenure (FY2012–FY2025), turnover grew nearly fivefold to ₹13,023 Cr, EBITDA grew at over 14.5% CAGR, and the order book expanded over fivefold to ₹36,869 Cr. The company emphasises this is a transition to a professionally managed organisation while retaining promoter family involvement.
This is a planned, orderly succession that should reassure investors — it preserves promoter oversight through Pallon S Mistry's induction while strengthening professional management with Subramanian's elevation. The market is unlikely to view this negatively given the strong growth track record cited, though the continued promoter family presence on the board is notable.