Ashoka Buildcon’s stock moved nearly 3% higher in early trade today after the company announced that it has secured additional work from the Brihanmumbai Municipal Corporation (BMC) for its ongoing infrastructure project in Mumbai.
The company confirmed that it received an official letter from BMC awarding fresh scope of work for the construction of Flyover Arm-1 and Arm-2 at the T-Junction on the Sion–Panvel Highway near Maharashtra Nagar in the M/E Ward. This is an extension of the existing flyover construction project already being executed by Ashoka Buildcon.
According to the filing, the newly awarded work is valued at ₹447.21 crore, inclusive of taxes. With this addition, the total project cost now rises to ₹1,573.79 crore. The order has been issued under a percentage-rate contract structure and, like the original award, has come from a domestic entity.
The time frame for completing the full project, including the new scope of work, has now been revised to January 13, 2028. The company also clarified that there is no promoter or related-party involvement in the awarding entity, ensuring no conflict of interest under regulatory norms.
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