Ashoka Buildcon Limited has announced a significant contract win, receiving a Letter of Acceptance (LOA) from the Brihanmumbai Municipal Corporation (BMC) for a major infrastructure project. The contract, valued at ₹1,126.58 crore (including taxes), involves the construction of two flyover arms at the T Junction on the Sion Panvel Highway in Maharashtra Nagar, M/E Ward.
The project, expected to be completed in 30 months, including monsoon seasons, is awarded on a percentage rate basis. It aims to enhance connectivity and ease traffic congestion in the area.
Ashoka Buildcon has informed the stock exchanges of this development in accordance with SEBI’s disclosure regulations and will provide further updates as the project progresses.
As of 9:16 AM, Ashoka Buildcon shares were trading 2.87% higher at ₹258.74 on the NSE.
