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3h ago

Afcons Appoints Krishnamurthy Subramanian Executive Chairman as Shapoorji Mistry Moves to Chairman Emeritus

The shift formalizes a planned generational transition that keeps Afcons under professional management.

Afcons Infrastructure | Image: Afcons Infrastructure
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Overview

  • Shapoorji Mistry resigned as chairman and non-executive director effective August 28, with the board elevating him to an honorary, non-board Chairman Emeritus role without remuneration.
  • The board named long-time executive Krishnamurthy Subramanian as Executive Chairman, formalizing his role in steering strategy and growth.
  • Pallon S Mistry was inducted as an additional non-executive, non-independent director effective August 29, subject to shareholder approval.
  • The board credited Shapoorji Mistry for growth from FY2012 to FY2025, citing turnover near Rs 13,023 crore, EBITDA CAGR above 14.5%, and an order book of about Rs 36,869 crore.
  • Afcons shares closed at Rs 421, down 3.2%, with promoters holding 50% of the company, as reports noted the broader SP Group context including its 18.4% stake in Tata Sons.