Ashoka Buildcon Limited has secured a significant contract worth ₹478 crore from the Mumbai Metropolitan Region Development Authority (MMRDA), marking a notable achievement for the infrastructure giant.
This announcement has positively impacted the company’s stock performance, with Ashoka Buildcon’s share price rising by over 3% in early trading on August 26. The company’s shares were trading at ₹239.85, reflecting an increase of ₹7.45, or 3.21%, on the Bombay Stock Exchange (BSE) as investors responded to the news. This boost in share value underscores market confidence in Ashoka Buildcon’s growing portfolio and its operational capabilities. The awarded project involves the engineering, procurement, and construction (EPC) of an elevated road stretching from Kalyan-Murbad Road (Palms Water Resort) to Badlapur Road (Jagdish Dughdhalaya) and extending to the Pune link road.
This road will be situated parallel to the Waldhuni river and will cross the Karjat-Kasara railway line. Additionally, the project includes the construction of a slip road. The scope of the project includes designing and constructing the elevated road, with a deadline of 36 months for completion, which encompasses the monsoon season. This timeline reflects the project’s complexity and the need for careful planning and execution to ensure successful delivery within the stipulated period. The contract win solidifies Ashoka Buildcon’s position in the competitive infrastructure sector and highlights its capacity to handle large-scale projects.
The project aligns with MMRDA’s ongoing efforts to enhance regional connectivity and infrastructure development within the Mumbai Metropolitan Region, contributing to broader urban planning and transportation goals. Market analysts view this development as a positive indicator of Ashoka Buildcon’s future prospects, with expectations of continued growth driven by its robust project pipeline and strong execution capabilities.
