Ashoka Buildcon Shares Rise After Winning ₹447 Crore BMC Order

Ashoka Buildcon Ltd witnessed fresh buying interest as its shares climbed nearly 4% to ₹167.90 following the announcement of a new order from the Brihanmumbai Municipal Corporation (BMC).
The company confirmed that it has received an additional work order valued at ₹447.21 crore for the Sion–Panvel Highway improvement project.

The latest order includes the construction of Flyover Arm-1 and Arm-2 at the T-Junction near Maharashtra Nagar in Mumbai’s M/E Ward. With this expansion in scope, the total project value has now increased to ₹1,573.79 crore, inclusive of taxes.

 

Ashoka Buildcon clarified that the promoters and promoter group have no interest in the BMC awarding entity, and the contract does not fall under related-party transactions.

The infrastructure developer, known for road construction, toll operations and infrastructure support services, has faced pressure on profitability. The company reported a sharp 82.92% year-on-year decline in consolidated net profit, falling to ₹78.06 crore in Q2 FY26 compared with ₹457.04 crore in the same period last year.

Despite near-term financial challenges, the fresh order win has boosted market sentiment, signalling steady traction in Ashoka Buildcon’s urban infrastructure portfolio.