Afcons Infrastructure Ltd, the Shapoorji Pallonji Group's infrastructure engineering and construction company, has inducted Firoz Cyrus Mistry and Santosh Balachandran Nayar into its Board of Directors. The announcement was made today.
Krishnamurthy Subramanian, Executive Chairman, Afcons, stated that the company is delighted to welcome Firoz Mistry and Santosh Nayar to the Board, noting that their entry marks their passionate involvement in shaping Afcons' future.
Firoz Cyrus Mistry is on the boards of S C Finance and Investments Pvt Ltd and Cyrus Investments Pvt Ltd, and designated partner in CPM Nexgen Ventures LLP and Mistry Ventures LLP. At 29, Mr Firoz Cyrus Mistry brings a next-generation leadership perspective, combining fresh insights with a forward-looking strategic mindset, while remaining grounded in the Shapoorji Pallonji Group's values of trust and collaboration. He brings a strong educational foundation with his liberal arts education from Yale University, USA, which has provided him with critical thinking skills, analytical capabilities, and a broad interdisciplinary perspective valuable for business decision-making.
Mr Santosh Nayar has over four decades of experience in project finance, banking, and insurance. He has held several senior leadership positions, including Deputy Managing Director & Group Executive (Corporate Banking) at the State Bank of India, Managing Director & Chief Executive Officer at IFCI Limited, and Chairman & Managing Director at India Infrastructure Finance Company Limited. He currently serves as an independent director on the boards of several companies in the power, finance, and infrastructure sectors. He had been nominated by the Hon. Prime Minister as a member of Dr. Kelkar Committee for developing PPP model for India.
Mr Firoz Cyrus Mistry has been appointed as a Non-Executive Director, while Mr Santosh Nayar has joined the Afcons board as an Independent Director.
In other board meeting outcomes, the Board approved the appointment of Mr. Santosh Balachandran Nayar (DIN: 02175871) as an Additional Director (Non-Executive & Independent Director) w.e.f. September 25, 2025. He will be appointed as an Independent Director of the Company for a term of five years, subject to the approval of the shareholders and in compliance with applicable regulatory requirements.
The Board also approved the appointment of Mr. Firoz Cyrus Mistry (DIN: 09543123) as an Additional Director (Non-Executive & Non-Independent Director) w.e.f. September 25, 2025, subject to approval of shareholders of the Company.
Mr. Udai Veer Singh, Executive Vice President (Operations) of the Company has been categorized as Senior Management Personnel with effect from September 25, 2025.
The Board approved and adopted the Afcons Infrastructure Limited Employee Stock Option Plan 2025.
The Board also approved the Issuance of Non-Convertible Debentures on a private placement basis.
The meeting of Board of Directors commenced at 12:00 Noon (IST) and concluded at 13:25 p.m. (IST)
Afcons Infrastructure Ltd is flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group. It has a legacy of over six decades, with strong track record of executing numerous technologically complex EPC projects both within India and internationally. As per the latest ENR survey, Afcons is ranked in Top 140 international Contractors globally; 12th in Bridges and 14th in Marine & Ports.
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