Afcons Infrastructure Limited has informed the Exchange regarding Board meeting held on August 28, 2025 with respect to changes at the Board level and in the designation of certain Senior Management Personnels of the Company.
AFCONS · price
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Shapoorji Pallonji Mistry has resigned as Non-Executive Non-Independent Director and Chairman of Afcons Infrastructure after over 25 years on the board, effective August 28, 2025. He will continue as Chairman Emeritus in an honorary, non-board role. Subramanian Krishnamurthy, who has been with Afcons for over 22 years and was Executive Vice Chairman, has been elevated to Executive Chairman. Pallon Shapoorji Mistry, the 33-year-old son of Shapoorji Pallonji Mistry and a member of the promoter group, has been appointed as an Additional Non-Executive Non-Independent Director effective August 29, 2025, subject to shareholder approval. Additionally, three senior management personnel received new designations — Anantakumar Rayaprolu as Director & COO, Manivannan Venkataraman as Director & CTO, and Bhakti Prasad as Director & CHRO.
This signals a planned leadership succession rather than a sudden exit — the founding promoter steps aside, a long-serving insider takes over as Executive Chairman, and the next-generation Mistry joins the board. Continuity of operations is likely preserved, though closer promoter family involvement may interest investors tracking governance and strategic direction.