Ashoka Buildcon shares moved over 2% higher after the company announced a major infrastructure contract win from the Brihanmumbai Municipal Corporation (BMC), boosting investor confidence and strengthening its urban infrastructure order book. As of 9:19 AM, the shares were trading 1.63% higher at Rs 168.15.
In a regulatory filing under Regulation 30 of SEBI (LODR), Ashoka Buildcon informed exchanges that its joint venture, Ashoka–Aakshaya JV, has received a Letter of Acceptance-cum-Work Order from BMC for a key flyover project in Mumbai. Ashoka Buildcon holds a 51% stake in the joint venture and is the lead member.
The project involves the construction of a flyover connecting J.J. Bridge and Sitaram Selam Bridge (Y Bridge) at the busy junction of J.J. Road and Saboo Siddik Polytechnic Road in ‘E’ Ward. This area is known for heavy traffic congestion, and the proposed flyover is expected to significantly improve traffic flow and urban mobility once completed.
The accepted bid value stands at ₹1,041.44 crore, including GST. The contract has been awarded on an Engineering, Procurement and Construction (EPC) basis, placing full responsibility for execution on the joint venture. According to the company’s disclosure, the project is scheduled to be completed within 24 months, excluding the monsoon period.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
