The company said Afcons had raised the dispute involving the ₹359.72 crore claim on February 22, 2023. The matter had previously been disclosed by IRCON. On June 29, 2026, the majority tribunal had declared an award of ₹147.14 crore against the claim value of ₹359.72 crore.
The minority tribunal on September 23, 2026, declared its dissenting opinion by awarding ₹23,64,20,885 against the ₹359.72 crore claim. IRCON said the arbitration process is now complete. However, the company said it will challenge the award before the High Court of Delhi in accordance with law.
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First Quarter Results
IRCON International Ltd reported a 43.6% year-on-year decline in consolidated net profit to ₹92.74 crore for the quarter ended June 30, 2026, even as revenue and operating profit increased.
The company had posted a net profit of ₹164.5 crore in the year-ago quarter. Consolidated revenue from operations rose 9.5% to ₹1,955.8 crore from ₹1,786.3 crore a year earlier.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 2.6% to ₹205.17 crore from about ₹200 crore. EBITDA margin, however, narrowed to 10.49% from 11.19% in the corresponding quarter last year.
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IRCON said toll-collection rights of Ircon-Soma Tollway Pvt. Ltd. (ISTPL), a joint venture in which it holds a 50% stake, ended on May 14 following the expiry of the extended concession period. The highway assets are being handed over to the National Highways Authority of India.
ISTPL had a net worth of about ₹216.17 crore as of June 30, with IRCON’s 50% share amounting to about ₹108.09 crore. IRCON said it doesn’t expect any impairment in the value of its investment in the joint venture.
Shares of Ircon International Ltd ended at ₹110.20, up by ₹1.05, or 0.96%, on the BSE.
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