The accepted bid for the project stands at Rs 3.08 billion, excluding GST. The contract, awarded by a domestic entity, is structured on a design, build and operate basis, with the company required to complete the design and construction work within 30 months. Ashoka Buildcon confirmed that the project does not involve any related party transaction and that the promoter or promoter group has no interest in the awarding entity.

In December last year, the company also secured an additional work order worth Rs 4.47 billion, including taxes, from the Brihanmumbai Municipal Corporation for its ongoing flyover project on the Sion–Panvel Highway. The additional scope includes the construction of flyover Arm-1 and Arm-2 at the T-junction at Maharashtra Nagar in the M/E Ward. The contract was awarded by the Brihanmumbai Municipal Corporation on a percentage rate basis.

Shares of Ashoka Buildcon Ltd closed at Rs 145.20 on the BSE, up Rs 3.45, or 2.43 per cent, reflecting investor response to the company’s expanding infrastructure portfolio.