Stories
IRCON to Challenge ₹24 Crore Tribunal Award in Afcons' ₹360 Crore Claim
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CNBC TV18•23-09-2026, 19:35
IRCON to Challenge ₹24 Crore Tribunal Award in Afcons' ₹360 Crore Claim
- •IRCON International will challenge a ₹23.64 crore tribunal award in the Delhi High Court, stemming from Afcons Infrastructure's ₹359.72 crore claim.
- •Afcons Infrastructure raised the dispute on February 22, 2023, with a majority tribunal previously awarding ₹147.14 crore.
- •The minority tribunal issued a dissenting opinion on September 23, 2026, awarding ₹23,64,20,885 against the claim.
- •IRCON International reported a 43.6% year-on-year decline in consolidated net profit to ₹92.74 crore for the quarter ended June 30, 2026, despite increased revenue.
- •The company's 50% stake in Ircon-Soma Tollway Pvt. Ltd. (ISTPL) concluded its toll-collection rights on May 14, with highway assets being handed over to NHAI.
Key Questions Answered
The minority tribunal declared a dissenting opinion by awarding ₹23,64,20,885 against the ₹359.72 crore claim raised by Afcons Infrastructure.
IRCON International stated that it will challenge the tribunal award before the High Court of Delhi in accordance with the law.
IRCON International reported a 43.6% year-on-year decline in consolidated net profit to ₹92.74 crore for the quarter ended June 30, 2026.
