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Shapoorji Pallonji group firm Afcons Infrastructure Ltd on Tuesday (June 30) said it has received a favourable arbitration award of ₹148.67 crore in relation to claims arising from a tunnel project in Jammu & Kashmir.
The company informed that the award pertains to claims arising out of the Construction of Tunnel T74-R balance work on the Dharam-Qazigund section of the Udhampur-Srinagar-Baramulla Rail Link (USBRL) Project.
According to the disclosure, the Arbitral Tribunal awarded ₹148.67 crore in favour of Afcons Infrastructure. The tribunal also directed the release of the company's bank guarantee related to the project.
ALSO READ | Afcons Infra secures ₹373 crore orders for urban, metro projects in April
Afcons said it received the arbitration award on June 30, 2026. The company stated that the award will have a positive impact on its financial position.
However, Afcons said the awarded amount will be payable subject to the condition that the counterparty does not challenge the award within the period prescribed under law.
This month, Afcons Infrastructure said it had secured a ₹5,301 crore project from Vadhvan Port Project Ltd (VPPL) to construct a 10.14-kilometre-long breakwater at the upcoming Vadhvan Port in Maharashtra. The company received a Letter of Award for the project valued at ₹5,301 crore, excluding GST.
ALSO READ | Afcons Infrastructure shares decline 7% after Q4 net loss; revised guidance miss for FY26
In an exchange filing, Afcons said the structure will become the second-longest breakwater in the world upon completion and forms a key part of the Vadhvan Port development project.
Commenting on the order win, Executive Chairman Krishnamurthy Subramanian said the project reflects Afcons' expertise in executing complex marine infrastructure projects, adding, "The Vadhvan breakwater project
will be a strategic enabler for India’s ambition to become a global maritime hub."
Managing Director S Paramasivan described the project as one of the world's "landmark marine" infrastructure developments and said it highlights India's growing capabilities in delivering large-scale infrastructure projects.
ALSO READ | Afcons Infra reports ₹88-cr Q4 loss as revenue, margins slide; declares dividend
Vadhvan Port is being developed as India's largest public port and is expected to be among the world's largest container ports, with a planned handling capacity of 23.2 million TEUs.
Shares of Afcons Infrastructure Ltd ended at ₹312.20, down by ₹4.60, or 1.45%, on the BSE.
The company informed that the award pertains to claims arising out of the Construction of Tunnel T74-R balance work on the Dharam-Qazigund section of the Udhampur-Srinagar-Baramulla Rail Link (USBRL) Project.
According to the disclosure, the Arbitral Tribunal awarded ₹148.67 crore in favour of Afcons Infrastructure. The tribunal also directed the release of the company's bank guarantee related to the project.
ALSO READ | Afcons Infra secures ₹373 crore orders for urban, metro projects in April
Afcons said it received the arbitration award on June 30, 2026. The company stated that the award will have a positive impact on its financial position.
However, Afcons said the awarded amount will be payable subject to the condition that the counterparty does not challenge the award within the period prescribed under law.
This month, Afcons Infrastructure said it had secured a ₹5,301 crore project from Vadhvan Port Project Ltd (VPPL) to construct a 10.14-kilometre-long breakwater at the upcoming Vadhvan Port in Maharashtra. The company received a Letter of Award for the project valued at ₹5,301 crore, excluding GST.
ALSO READ | Afcons Infrastructure shares decline 7% after Q4 net loss; revised guidance miss for FY26
In an exchange filing, Afcons said the structure will become the second-longest breakwater in the world upon completion and forms a key part of the Vadhvan Port development project.
Commenting on the order win, Executive Chairman Krishnamurthy Subramanian said the project reflects Afcons' expertise in executing complex marine infrastructure projects, adding, "The Vadhvan breakwater project
will be a strategic enabler for India’s ambition to become a global maritime hub."
Managing Director S Paramasivan described the project as one of the world's "landmark marine" infrastructure developments and said it highlights India's growing capabilities in delivering large-scale infrastructure projects.
ALSO READ | Afcons Infra reports ₹88-cr Q4 loss as revenue, margins slide; declares dividend
Vadhvan Port is being developed as India's largest public port and is expected to be among the world's largest container ports, with a planned handling capacity of 23.2 million TEUs.
Shares of Afcons Infrastructure Ltd ended at ₹312.20, down by ₹4.60, or 1.45%, on the BSE.
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