Ashoka Buildcon rose 1.96% to Rs 168.65 after it has received an EPC order from Brihanmumbai Municipal Corporation to construct a flyover connecting J.J. Bridge & Sitaram Selam Bridge at J.J. Road-Saboo Siddik Polytechnic Road Junction in "E" Ward.
The domestic project is to be completed within 24 months, excluding the monsoon period, at a total cost of Rs 1,041.44 crore, including GST.
The joint venture (JV) shareholding structure comprises Ashoka-Aakshaya JV, in which Ashoka Buildcon holds 51% as the lead member and Aakshya Infra Projects Private Limited holds 49%.
The company confirmed that neither the promoter nor the promoter group has any interest in BMC, and the contract does not fall under related party transactions.
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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