Afcons Infrastructure Limited is a leading Indian engineering and construction company with a strong presence in marine, ports, bridges, tunnels, roads, railways, and metro projects. Incorporated in 1959 and part of the Shapoorji Pallonji Group, Afcons has executed landmark infrastructure projects across India and internationally—including the Mumbai Trans Harbour Link, Chennai Metro, and Kochi Smart City. The company also serves strategic sectors like defence and oil & gas, giving it exposure to government-led capex cycles. Despite recent sales contraction, robust order inflows and improving execution have renewed investor interest. This article provides a data-backed outlook on the Afcons Infrastructure share price target 2026–2030.
Afcons Infrastructure Ltd: Company Overview
- Founded: 1959
- Headquarters: Mumbai, Maharashtra
- Key Segments: Marine & Ports, Bridges, Tunnels, Metro Rail, Highways, Defence Infrastructure
- Strategic Edge: Among India’s top 3 infrastructure EPC players; strong order book (~₹30,000 Cr as of Q3 FY26)
- Parentage: Part of the Shapoorji Pallonji Group (promoter holding: 50.17%)
Afcons benefits from India’s ₹111 lakh crore National Infrastructure Pipeline (NIP) and rising defence/strategic infrastructure spending. Its focus on complex, high-barrier projects ensures pricing power and limited competition.
Afcons Infrastructure Ltd: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹330.00 |
| Market Capitalization | ₹12,127.70 Cr |
| No. of Shares Outstanding | 36.78 Cr |
| 52-Week High / Low | ₹499 / ₹319 |
| P/E Ratio (TTM) | 20.56 |
| P/B Ratio | 2.46 |
| EPS (TTM) | ₹16.04 |
| Book Value (TTM) | ₹134.15 |
| ROE | 14.83% |
| ROCE | 22.79% |
| Dividend Yield | 0.76% |
| Face Value | ₹10 |
| Cash | ₹637.43 Cr |
| Total Debt | ₹2,245.07 Cr |
| Debt-to-Equity | 0.46 |
| Sales Growth (YoY) | -3.16% |
| Profit Growth (YoY) | 32.57% |
| Promoter Holding | 50.17% |
Afcons Infrastructure Ltd Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹355 – ₹400 |
| 2027 | ₹385 – ₹440 |
| 2028 | ₹415 – ₹485 |
| 2029 | ₹445 – ₹530 |
| 2030 | ₹475 – ₹580 |
Afcons Infrastructure Ltd Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹355 | ₹400 |
Afcons reported 32.57% profit growth despite a 3.16% sales decline in FY2025, reflecting improved project margins and cost discipline. With ROCE at 22.79% and ROE at 14.83%, the company demonstrates strong capital efficiency. Trading at a P/E of 20.56x—slightly above the infrastructure sector average—the stock is fairly valued. A 2026 target of ₹355–₹400 assumes stable execution and order book conversion.
Afcons Infrastructure Ltd Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹385 | ₹440 |
The company’s order book includes major defence and metro rail projects, offering multi-year revenue visibility. If sales rebound and EBITDA margins hold near 11–12%, EPS could reach ₹18–₹20 by FY27. At a P/E of 20–22x, the 2027 range of ₹385–₹440 is realistic.
Afcons Infrastructure Ltd Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹415 | ₹485 |
By 2028, benefits from large-scale infrastructure execution—especially in strategic sectors—should reflect in top-line recovery. However, working capital days have increased (from 29 to 65), indicating cash flow pressure. Assuming EPS of ₹20–₹22 and P/E of 21–22x, the ₹415–₹485 band is justified.
Afcons Infrastructure Ltd Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹445 | ₹530 |
Long-term tailwinds include India’s focus on border infrastructure, port-led development, and urban transit. Risks include project delays and raw material inflation. If ROCE sustains above 22%, re-rating potential increases. Using a P/E of 22–24x on projected EPS (~₹20.50–₹23), the 2029 target is ₹445–₹530.
Afcons Infrastructure Ltd Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹475 | ₹580 |
Over a five-year horizon, Afcons’ value lies in its niche in complex infrastructure and alignment with national security priorities. While not a high-dividend stock, its growth story appeals to capital-appreciation investors. A terminal P/E of 22–25x on FY30 EPS (~₹21.50–₹24) supports the ₹475–₹580 range.
Afcons Infrastructure Ltd: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters (Shapoorji Pallonji Group) | 50.17% |
| Foreign Institutional Investors (FII) | 12.81% |
| Domestic Institutional Investors (DII) | 19.61% |
| Public & Retail | 17.42% |
| Others | 0% |
Strong institutional ownership (32.4%) reflects confidence in governance and execution capability.
Afcons Infrastructure Ltd: Strengths vs Risks
Strengths:
- Industry-leading ROCE (22.79%) and healthy ROE (14.83%)
- Strong order book with strategic defence and metro projects
- Low debt-to-equity (0.46) and consistent profitability
- Backed by the reputable Shapoorji Pallonji Group
Risks:
- Sales declined (-3.16%) due to project timing and execution lags
- Working capital days rose sharply (65.5 days)—a red flag for cash flow
- Promoter pledge: ~53.5% of stake pledged (per Screener)—governance concern
- Low dividend yield (0.76%) limits income appeal
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Moderate to High |
| Ideal Time Horizon | 3–5+ years |
| Volatility | Higher than market average (infrastructure cyclical) |
| Dividend/Income Potential | Minimal (0.76% yield) |
| Best For | Growth-oriented investors seeking exposure to India’s infrastructure and defense capex cycle |
- Profit-taking after 2023–24 rally
- Concerns over working capital deterioration
- Broader market rotation away from mid-cap infra stocks
Final Verdict
Afcons Infrastructure Ltd offers compelling exposure to India’s strategic infrastructure build-out, backed by strong return ratios and a robust order book. However, working capital pressures and promoter pledging warrant caution. Our Afcons Infrastructure share price target 2026–2030 (₹355 to ₹580) reflects steady appreciation if execution remains on track. Suitable for growth portfolios—but avoid lump-sum entry at highs.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – Afcons Infrastructure Consolidated Page (FY2025 + TTM)
- Finology Ticker – AFCONS Financial Ratios & Valuation
- Afcons Investor Presentation (Q3 FY26, Jan 2026)
- BSE/NSE – Company Announcements and Annual Reports
- Ministry of Defence – Strategic Infrastructure Policy Updates
