Shapoorji Mistry takes over as Chairman Emeritus at Afcons, son joins the board

Afcons Infrastructure , the flagship infrastructure and engineering arm of the Shapoorji Pallonji Group with an over ₹15,000 crore market cap, has elevated Shapoorji Mistry as chairman emeritus, while Krishnamurthy Subramanian, the company’s long-serving executive vice-chairman, will take over as executive chairman. In a move that represents a generational transition, Pallon S Mistry, the son of Shapoorji Mistry, has also been inducted into the board of directors as non-executive director.

The boardroom reshuffle is being viewed as a carefully calibrated move to balance legacy, professional management, and generational continuity at one of India’s most reputed infrastructure companies.

After over 25 years on the board, including 13 years as chairman, Shapoorji Mistry has stepped back from active leadership. As chairman emeritus, which is a non-board and honorary position, he will continue to serve as a mentor and guide to the board and executive team. The company in a statement described this transition ensures continued deeper involvement of Shapoorji Pallonji Group in shaping Afcons’ future, while preserving the professional independence of its leadership.

Under Mistry’s stewardship between FY2012 and FY2025, Afcons experienced a remarkable transformation with turnover surging nearly five-fold to ₹13,023 crore, EBITDA clocking a CAGR of over 14.5% and order-book expanding over five times to ₹36,869 crore

Subramanian, who has been with Afcons for more than two decades, had previously served in leadership roles including managing director and vice-chairman, spearheading Afcons’ evolution into a globally respected, professionally run infrastructure player.

He is credited with the successful execution of iconic projects such as the Chenab Railway Bridge (Jammu & Kashmir), Atal Tunnel (Himachal Pradesh), India’s first underwater tunnel (Kolkata Metro), Sohar Jetty (Oman) and New Owendo International Port (Gabon).

Subramanian will continue working closely with Afcons managing director S Paramasivan to further strengthen the company’s performance, culture, and governance.

Afcons is ranked among the Top 140 international contractors globally, according to the latest Engineering News-Record survey and holds the 12th position in Bridges and 14th in Marine & Ports segments.