Ashoka Buildcon shares rally 14% after securing Rs 866 crore NHAI contract for Vadodara-Mumbai Expressway

Shares of Ashoka Buildcon rallied up to 14% on Wednesday to hit the day’s high of Rs 117.34 on NSE after the company secured an Rs 866 crore NHAI contract for Vadodara-Mumbai Expressway.

According to a filing with the exchange, the company said that it submitted its bid for this project of the National Highways Authority of India (NHAI) and the accepted EPC price of the project is Rs 865.90 crore excluding GST.

The nature of this order or contract is that the project involves completing the remaining construction work on the eight-lane Vadodara–Mumbai Expressway's Karvad–Jujuwa section in Gujarat.


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The time period by which the order or contract is to be executed is 18 months. The significant terms and conditions of the order or contract awarded are Engineering, Procurement, and Construction (EPC) mode and the defect liability period of 10 years.

The company further said that no promoter/ promoter group / group companies have any interest in the entity that awarded the order(s)/contract(s).

In October, the company received letter of acceptance from North Eastern Railway (NER) for design, supply, erection, testing & commissioning of traction sub stations with associated switching posts for 2x25 KV AT traction feeding system in Gorakhpur Cantt-Chhapra Gramin section of Varanasi Division of North Eastern Railway for capacity up-gradation work of electric traction power supply installations on Engineering, Procurement & Construction (EPC) Mode.

This project is to be completed in 24 months from date of commencement and the total project value is Rs 290.23 crore inclusive of GST.

Ashoka Buildcon Q2 update

On Thursday, the company announced that its Q2 profit went up 2.80% to Rs 37.9 crore in Q2FY27 from Rs 139.2 crore in Q2FY26. The total income from operations went up 4.12% to Rs 1,356 crore in the said time period.

EBITDA declined 16.18% to Rs 133.9 crore and EBITDA Margin was recorded at 9.8% in the said time period.

The total order book of the company was recorded at Rs 15,964 crore in Q2FY27 with road EPC contributing the maximum of Rs 6,173 crore followed by power T&D at Rs 3,820 crore.

The Debt on a Standalone basis is Rs.1,169 crore; which comprises Rs 77 crore of Equipment loans, Rs.893 crore of Working Capital loans and Rs 200 crore of CPs. The consolidated debt is Rs 2,781 crore.

The total BOT Division Toll Collection of Rs 73.5 crore in Q2 FY26, de-growth of 9% YoY.

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Ashoka Buildcon share price

The share surged nearly 10.70% in the last one week and around 13.27% in the last one month. In the current calendar year so far, the stock is down 31.17% and down around 41.38% in the last one year.

The stock was down 16.95% in the last three years. In the last five years, it gained 4.82%.

Disclosure: This article has been written by Surbhi Khanna, who is not a SEBI-registered Research Analyst or an investment advisor . Surbhi Khanna does not hold any financial interest in Economic Times as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of the EconomicTimes Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.