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Informist, Thursday, Aug. 28, 2025

--Afcons Infra board OKs resignation of Chairman Shapoorji Pallonji Mistry 

--Afcons Infra board appoints Shapoorji Mistry as chairman emeritus from Fri 

--Afcons Infra board elevates Subramanian Krishnamurthy as executive chairman 

NEW DELHI – Afcons Infrastructure Ltd. Thursday said its board has accepted Shapoorji Pallonji Mistry's resignation as non-executive non-independent director and chairman of the company. Mistry, who served the infrastructure major as its chairman for 13 years, will be elevated to the post of chairman emeritus effective Friday, the company said in an exchange filing. Subramanian Krishnamurthy, currently executive vice-chairman, will replace Mistry as chairman.

"After serving on the board for more than 25 years, including over 13 years as its chairman, to pave way for smooth and seamless transition of leadership at Afcons and to reaffirms that Afcons continues to be a truly professionally managed organisation, I do hereby tender my resignation as a non-executive director and from the positions of chairmanship of the company with effect from 28th August 2025," Mistry said in a letter to the board. 

Krishnamurthy, also a whole-time director at Afcons Infrastructure, has over four decades of experience in project planning, execution, overall project management, contract management, and corporate planning. He served as the company's managing director between 2002 and 2018, after which he was elevated as the executive vicechairman of the firm. 

The board also approved appointment of Pallon Shapoorji Mistry as Afcons Infrastructure's additional director effective Friday. "I also take this opportunity to recommend to the board induction of Mr. Pallan S. Mistry, a next generation from the Shapoorji Palloji family to the board," the outgoing chairman said in his letter. "His close engagement with the board will strengthen the alignment of Afcons' long-term strategy with the Group's vision thereby paving way for deeper promoter involvement in shaping Afcons' future, while preserving the professional independence of its leadership," he added.

For the June quarter, Afcons Infrastructure reported a consolidated net profit of INR 1.37 billion on revenue of INR 33.70 billion. On Thursday, its shares closed 2.7% lower on the National Stock Exchange at INR 422.10.  End

Reported by Anand JC

Edited by Avishek Dutta

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