Ashoka Buildcon Limited has announced that the Adani-Ashoka-Aakshaya Joint Venture has received the Letter of Acceptance (LoA) from the Brihanmumbai Municipal Corporation (BMC) for a major infrastructure project in Mumbai. The disclosure was made through an exchange filing dated December 10, 2025.
According to the filing, the accepted bid value for the project stands at Rs 1,815.79 crore (excluding GST). The JV is led by Adani Road Transport Limited with 51% share, while Ashoka Buildcon holds 26% and Aakshaya Infra Projects holds 23%.
The awarded work relates to the “Mithi River Development and Pollution Control Project – Package III”, covering a large set of urban infrastructure upgrades. This includes dry weather flow interception at tidal outfalls, gate pumps, transfer sewer, river training, service roads, retaining walls, along with 10 years of operations and maintenance from CST Bridge (Kurla) to Mahim Causeway, including the Vakola River stretch.
Ashoka Buildcon stated that the project will follow a Design, Build and Operate (DBO) model, with a 48-month execution period (excluding monsoon seasons) for construction and an additional 10-year O&M window thereafter.
The company also confirmed that the trading window for designated persons will remain closed for 48 hours after the disclosure, as per regulatory norms.
