Ashoka Buildcon shares in focus tomorrow as firm wins NHAI contract worth Rs 866-crore

Shares of Ashoka Buildcon are likely to be in focus on Wednesday after the infrastructure company secured a Rs 865.90-crore contract from the National Highways Authority of India (NHAI) for construction work on the Vadodara-Mumbai Expressway in Gujarat.

In an exchange filing on Monday, November 9 after market hours, the company said it had received a Letter of Acceptance (LoA) from NHAI for the project. Ashoka Buildcon had submitted its bid for the contract on November 5, 2026.

The order involves completing the balance construction work on an eight-lane, access-controlled stretch of the expressway between Karvad and Jujuwa in Gujarat. The project covers a 26.6-km section, extending from Km 128.0 to Km 154.6.

The contract will be executed under the engineering, procurement and construction (EPC) model and is valued at Rs 865.90 crore, excluding Goods and Services Tax (GST).

Earlier this month, Ashoka Buildcon had announced that it emerged as the lowest bidder (L1) for the project. The latest LoA marks the formal award of the contract.

The development comes close on the heels of another significant order secured by the company in October. Ashoka Buildcon had received an LoA from North Eastern Railway for a Rs 290.23-crore project to strengthen electric traction power supply infrastructure in Uttar Pradesh.

The railway contract involves the design, supply, erection, testing and commissioning of traction substations and associated switching posts for a 2x25 kV alternating current (AC) traction feeding system.

The latest NHAI order further strengthens Ashoka Buildcon's order pipeline, adding to its presence in the highways and infrastructure construction segments.

Meanwhile, the infra sector stock closed 0.19% lower at Rs 103 on Monday. Market cap of the firm stood at Rs 2891 crore.

Ashoka Buildcon is engaged in the business of construction of infrastructure facilities on Engineering, Procurement and Construction Basis (EPC) and Built, Operate and Transfer (BOT) Basis and Sale of Ready Mix Concrete.