Ashoka Buildcon rises after JV secures Rs 1,815-cr BMC project order

Ashoka Buildcon rose 1.28% after the company announced that its joint venture with Adani Road Transport and Aakshaya Infra has received a letter of acceptance (LoA) worth Rs 1,815.79 crore from the Brihanmumbai Municipal Corporation (BMC).

The contract pertains to Package III of the Mithi River Development & Pollution Control Project, involving dry-weather flow interception at tidal outfalls, transfer sewers, river training, service roads, retaining walls, and allied civil works. The project will be executed on a Design, Build, and Operate (DBO) model and includes 10 years of operations and maintenance.

The JV shareholding structure comprises Adani Road Transport (51%, lead member), Ashoka Buildcon (26%), and Aakshaya Infra (23%). The design and build period is slated for 48 months, excluding monsoon seasons, followed by the long-term O&M phase.

Ashoka Buildcon is engaged in the construction & maintenance of roads and supporting services to land support and operation of toll roads. The company reported an 82.92% decline in consolidated net profit to Rs 78.06 crore in Q2 FY26 as against Rs 457.04 crore posted in Q2 FY25.

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