Ashoka Buildcon is L-1 for ₹866 crore NHAI highway project
- Order win
- Construction
Reviewed byKeshav SehgalBlacklitt Research
Ashoka Buildcon (NSE: ASHOKA) has been declared Lowest Bidder (L-1) for a project of National Highways Authority of India (NHAI) with a quoted EPC price of ₹865.90 crore excluding GST, it said in a filing on 05 Nov 2026. The project is balance work on an 8-lane expressway section in Gujarat.
Key highlights
- Quoted EPC price: ₹865.90 crore excluding GST
- Time to execute the order: 18 months
- Defect liability period: 10 years
- Section: Km 128.0 to Km 154.6, Vadodara - Mumbai Expressway, Gujarat
The contract in numbers
| Item | Detail |
|---|---|
| Awarded by | National Highways Authority of India (NHAI) |
| Status | Declared Lowest Bidder (L-1) |
| Quoted EPC price | ₹865.90 crore, excluding GST |
| Mode | Engineering Procurement Construction (EPC) |
| Scope | Balance work for construction of an 8-lane access-controlled expressway, Km 128.0 to Km 154.6, Karvad to Jujuwa section of Vadodara - Mumbai Expressway, Gujarat (Pkg-IX) |
| Time to execute | 18 months |
| Defect liability period | 10 years |
| Domestic or international | Domestic |
The project and its scope
Ashoka Buildcon submitted a bid for the project, and the company has now been declared the Lowest Bidder (L-1). The work is balance work for construction of an 8-lane access-controlled expressway, from Km 128.0 to Km 154.6 of the Vadodara - Mumbai Expressway in Gujarat, covering the Karvad to Jujuwa section.
The contract is on an Engineering Procurement Construction (EPC) mode, with a Defect Liability Period of 10 years and a time period of 18 months to execute the order.
The order against the company's size
The quoted EPC price of ₹865.90 crore excluding GST is 28.8% of the company's market value of ₹3,002 crore at the 05 Nov 2026 close of ₹106.95 a share.
In its latest quarter, Q1 FY27 on a consolidated basis, the company reported total income of ₹1,533.72 crore, down 20.8% year on year, and net profit of ₹127.17 crore, down 44.0% year on year.
What the order means for Ashoka Buildcon's shareholders
The company adds an NHAI contract for an EPC project in Gujarat, with an execution period of 18 months. The filing does not say what revenue or margin the project will add to the company's results, when work will start, or what the other bidders quoted.
The next stated timeline is the 18-month period to execute the order.
Filed with NSE on . Reference: Original filing (PDF)
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