Analysts/Institutional Investor Meet/Con. Call Updates

August 13, 2026 To To The Compliance Manager The Manager, Listing Department BSE Limited National Stock Exchange of India Ltd Corporate Relationship Dept., Exchange Plaza, Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Mumbai 400001. Bandra (East), Mumbai 400 051. Scrip Code: 544280 Symbol: AFCONS Subject: Transcript of Q1 FY27 Earnings Conference Call Pursuant to Regulation 30 and 46 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Transcript of the Q1 FY27 Earnings Conference Call held on Monday, August 10, 2026. The aforesaid Transcript is also being uploaded on the website of the Company: https://afcons.com/financials/ Thanking you, Yours faithfully, For Afcons Infrastructure Limited Gaurang Parekh Company Secretary and Compliance Officer Membership No.: F8764 Afcons Infrastructure Limited Regd. O(cid:431)ice: Afcons House, 16, Shah Industrial Estate, Veera Desai Road, Azad Nagar, Andheri(W), Mumbai - 400 053, India, Tel.: +91-22-6719 1000, Email: secretarial@afcons.com www.afcons.com | CIN No.: L45200MH1976PLC019335 “Afcons Infrastructure Limited Q1 FY27 Earnings Conference Call” August 10, 2026 MANAGEMENT: MR. SUBRAMANIAN KRISHNAMURTHY– EXECUTIVE CHAIRMAN – AFCONS INFRASTRUCTURE LIMITED MR. PARAMASIVAN SRINIVASAN– MANAGING DIRECTOR – AFCONS INFRASTRUCTURE LIMITED MR. RAMESH KUMAR JHA – CHIEF FINANCIAL OFFICER -- AFCONS INFRASTRUCTURE LIMITED MR. HITESH SINGH – HEAD CORPORATE STRATEGY – AFCONS INFRASTRUCTURE LIMITED MODERATOR: MR. KISHAN MUNDHRA – DAM CAPITAL ADVISORS LIMITED Page 1 of 20 Afcons Infrastructure Limited August 10, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Afcons Infrastructure Q1 FY27 Earnings Conference Call hosted by DAM Capital Advisors Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing '*' then '0' on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Kishan Mundhra from DAM Capital Advisors Limited. Thank you and over to you, sir. Kishan Mundhra: Yes, thank you, Michelle. Good morning, everyone, and a warm welcome to the Q1 FY27 earnings call of Afcons Infrastructure. So to discuss the results, today we have the management with us which is represented by Mr. Subramanian Krishnamurthy, the Executive Chairman; Mr. Srinivasan Paramasivan, the Managing Director; Mr. Ramesh Kumar Jha, the CFO; Mr. Hitesh Singh, the Head of Corporate Strategy. Now at this point, I'll hand over the floor to the management for the initial remarks and post which we can open the floor for the question-and- answer session. With that, over to you, sir. S. Krishnamurthy: Thank you, Kishan. Good morning, ladies and gentlemen. I'm Krishnamurthy Subramanian. It's a pleasure to connect with our investors, analysts, stakeholders as we begin a new financial year. Thank you for joining us today and for your continued support and interest in Afcons Infrastructure Limited. Our financial results and investor presentation for the quarter have been uploaded on the stock exchanges, and I trust you have had the opportunity to review them. Joining me today are Paramasivan Srinivasan, Managing Director; Ramesh Kumar Jha, CFO; and Mr. Hitesh Singh, Head of Corporate Strategy. Let me begin with an overview of our financial performance for the quarter. Afcons reported a total income of INR2,727 crores in Q1 FY27 compared to INR3,419 crores in Q1 FY26. EBITDA for the quarter stood at INR263 crores with an EBITDA margin of 9.6%. Profit after tax was INR30 crores. While our financial performance for this quarter was lower than the corresponding period last year, as several of the challenges we encountered during FY26 continued into the first quarter of FY27. In addition, adverse weather conditions affected the progress on certain marine projects, while land handover at a few project sites advanced more slowly than anticipated. Execution of some fast-track projects also progressed at normal pace due to labor shortages, while a few other projects were impacted by pending clearances. We expect these issues to gradually ease, enabling stronger execution momentum over the coming quarters. During the quarter, we achieved an important milestone. I'm delighted to share that the Mumbai-Pune Expressway Missing Link project was inaugurated on 1st May 2026, marking yet another defining milestone in Afcons' journey of delivering iconic infrastructure for the nation. The cable-stayed bridge executed by Afcons stands as the centerpiece of this landmark project. Standing as India's tallest road cable bridge, cable-stayed bridge, it's not merely a bridge, but a reflection of Indian engineering capability, determination, and execution excellence under some Page 2 of 20 Afcons Infrastructure Limited August 10, 2026 of the most challenging conditions. We are proud that the Mumbai-Pune Expressway Missing Link project is yet another example of many complex and technologically challenging infrastructure projects that Afcons has successfully executed over the decades. As we look ahead, we are equally encouraged by the quality of our existing order book, which includes several projects that have the potential to become engineering landmarks in their own right. This reinforces our confidence in the long-term strength of our project portfolio and our ability to continue delivering world-class infrastructure. Alongside engineering excellence, our commitment to safety remains unwavering. Safety is a deeply embedded aspect in our culture, and continues to be recognized by leading global and domestic institutions. During the quarter, several of our projects received British Safety Council's International Safety Awards with Distinction. These recognitions are meaningful because they validate the high standards of safety, discipline, and operational excellence that we strive to uphold across every Indian project of Afcons Portfolio. Let me now briefly touch upon broader infrastructure environment. For some time now, geopolitical developments have weighed on infrastructure investments and project award activity across several regions. We remain hopeful that as the geopolitical uncertainties across key regions begin to ease, infrastructure investment and project award activity will gradually regain momentum globally, as well as in India. Against this backdrop, we continue to pursue opportunities that align with our well-established risk management framework across our core markets in Asia, Africa, Middle East, and neighboring geographies. Our approach remains selective and disciplined with a clear focus on sustainable and profitable growth. As we move through FY27, our priorities remain clear. We will continue to focus on growing order book, improving collections, strengthening cash flows, and further enhancing and strengthening the balance sheet. These initiatives will provide a stronger foundation for our growth and long-term value creation. With that, now I invite our Managing Director, Paramasivan Srinivasan, to share his remarks on the business outlook and operational performance. Thank you, gentlemen. Paramasivan Srinivasan: Thank you, Mr. Subramanian. Good morning, everyone. I extend a warm welcome to all our investors, analysts, and participants joining us today. We sincerely appreciate your continued confidence in Afcons and value the engagement you bring to these discussions. As Mr. Subramanian highlighted, the first quarter of '27 continued to be impacted by some of the factors that affected us during the previous financial year, along with certain execution delays across a few projects due to factors beyond our control. Liquidity conditions remained tight and collec [Showing first 8,000 characters — download PDF for full document]