Investec has initiated coverage on Afcons Infrastructure with a Buy rating and a target price of ₹630, citing strong revenue visibility and robust growth prospects over FY26-27. The brokerage highlights Afcons as one of the most diversified mid-sized EPC (Engineering, Procurement, and Construction) companies in India, benefiting from its disciplined approach to project execution and bidding.
Afcons has an impressive track record of completing complex infrastructure projects on time, showcasing exceptional execution capabilities and financial prudence. Its financial performance has remained remarkably stable, with consistent margins and a strong balance sheet—attributes that reflect its conservative accounting and operational efficiency.
Investec believes Afcons Infra is well-positioned to capitalize on India’s government-driven capex cycle, which will drive significant growth in the infrastructure sector. The company’s ability to deliver strong EBITDA and PAT growth further underpins its investment case.
The report positions Afcons Infra as a compelling play for investors looking to leverage the ongoing infrastructure development momentum in India, supported by the company’s solid execution, stable financials, and diversified project portfolio.
