AFCONS / Q2-FY26 / claim-ledger

Audit the questions that mattered.

Afcons Infrastructure · Analyst questions, management answers, and the quality of the response where the ledger is available.

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WatchQ2-FY26 · 2025-10-30Back to quarter ↗

Questions audited

12

Answered directly

88%

Numeric claims

1

Consistency

contradicted

Question ledger

What was answered, and how?

Adita · Invest India

partial

Status and timelines for Vadwan port and DST projects.

Wadwan port we have already submitted the bid. Technical bit is opened yesterday... financial bit could opened towards end of the quarter or beginning of next quarter... DSST project... bit submissions date is still away. We are in active discussion... Beyond that I'm not in a position to say anything.

Adita · Invest India

direct

Progress and margin recognition on Mumbai high-speed rail project.

We have done about 15% of the project... NATM tunneling of 4.8 kilometers is already completed... profitability is on expected lines. No margin recognition typically we start at 10%... force major acceptance communicated.

Sherom Kapoor · Jeffy's group

direct

Quantify L1 position with breakup by road/rail and geography.

Maharashtra L1 continues to be the four jobs... Nagpur Gundia Expressway package 1 which is 2599 crores... total L1 project of around 23,000 crores... Croatia... first road project is 2406 second is 2144 railway is 6771.

Sherom Kapoor · Jeffy's group

direct

Order inflow guidance of 20,000 cr for FY26 still valid?

100% we are achieving a 20,000 cr cadence.

Sherom Kapoor · Jeffy's group

direct

Breakup of 3.6 lakh cr prospect pipeline by segment and geography.

urban infrastructure project around 1.6 lakh cr... hydro and underground... around 94,000 crores... road business... around 65,000 crores... marine and industrial around 43,000 crores... geographical breakup... 1/4 from overseas, 3/4 domestic.

Mahesh Bendre · LIC Mutual Fund

direct

Why growth guidance reduced from 20-25% to 10%?

some of the L1 orders... we were expecting to get converted in first and second quarter... some projects... no visibility with respect to payment... Jalgiban mission... we had to stop... stuck with 450 crores of receivables... we have to take a cautious step.

Shahan Sha · Dalat Capital

direct

FY27 growth guidance given 10% in FY26?

we would like to maintain our earlier guidance of 15% for the next financial year because this... orders are bunching... If it comes in the current quarter then work will start in the next financial year... our guidance of 15% would remain.

Shahan Sha · Dalat Capital

direct

Clarify if 20,000 cr order inflow excludes Maharashtra L1.

Correct. Correct.

Shahan Sha · Dalat Capital

partial

EBITDA margin guidance for FY26 and FY27?

on an annual basis the guidance we are trying to give is 11%... we have done in the range of 13%... we expect the full year number to be better than what we had initially indicated... on a sustainable basis you would like to do... 11% AITA number.

Shahan Sha · Dalat Capital

partial

Capex for FY26 and FY27, and balance sheet data points.

on capex this year we have planned close to 1100 cr... some part of it is going to spill over to next year... when we had made our budget for 26... we were looking at somewhere around 700-750 crores kind of capex for 27.

Parveves Kazi · Nama Group

direct

Incremental bid pipeline additions in H1 by segment and geography.

largely the projects got added on the urban infrastructure space... certain projects got added on the hydro and underground... domestic and overseas... ratio was pretty much same... 1/4 and 3/4.

Parveves Kazi · Nama Group

direct

Capex in Q2 and order book projects without appointed date.

capex we have done close to around 200 crores up to September... all these projects are under execution. So there is no such project for which we have not got the appointed date.