India’s Power Finance Corporation Ltd has declined to extend a $2.4 billion loan to Shapoorji Pallonji Group, jeopardizing the conglomerate's plans to refinance approximately 200 billion rupees in debt. Chairman Parminder Chopra stated that the decision followed due diligence, revealing that this sector was unfamiliar for the government-backed lender.
Afcons Infrastructure Ltd., part of the Shapoorji Pallonji Group, has a diverse portfolio in infrastructure and construction, with 30% of its revenue from international projects. With a robust order book of ₹31,747cr and a healthy financial performance, the company is well-positioned for growth in the rapidly expanding Indian construction market. AIL is rated as a "Subscribe" for medium- to long-term investment due to its strong execution capabilities and geographical diversification.
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