Ashoka Buildcon Limited has secured a major infrastructure contract from the Brihanmumbai Municipal Corporation (BMC), strengthening its order book in the urban infrastructure segment. The company informed exchanges under Regulation 30 of SEBI (LODR) that its joint venture, Ashoka–Aakshaya JV, has received a Letter of Acceptance-cum-Work Order for a key flyover project in Mumbai.
The joint venture, in which Ashoka Buildcon holds a 51% stake as the lead member, had submitted the bid to BMC for the construction of a flyover connecting J.J. Bridge and Sitaram Selam Bridge (Y Bridge). The project will be executed at the busy junction of J.J. Road and Saboo Siddik Polytechnic Road in ‘E’ Ward, an area known for heavy traffic congestion.
The accepted bid value for the project stands at Rs 1,041.44 crore, including GST. The contract has been awarded on an EPC basis and involves complete construction responsibilities. As per the disclosure, the project is scheduled to be completed within 24 months, excluding the monsoon period.
The order has been awarded by BMC, a domestic authority, and does not fall under related-party transactions. Ashoka Buildcon also clarified that neither the promoter nor the promoter group has any interest in the awarding entity.
