Ashoka Buildcon Shares Jump 14% on ₹866 Crore NHAI Order for Vadodara–Mumbai Expressway

11 Nov 2026 , 01:15 PM

Shares of Ashoka Buildcon rose nearly 14% in early trade on Wednesday, November 11, after the company received an LoA worth Rs 865.90 crore from NHAI for balance construction work on the Vadodara–Mumbai Expressway. The assignment covers the 26.6-km Karvad–Jujuwa section in Gujarat, with completion scheduled within 18 months, according to Ashoka Buildcon’s exchange filing.

Key Takeaways

• NHAI has engaged the contractor for the project on an Engineering, Procurement & Construction basis.
• Karvad – Jujuwa stretch is from km 128.0 to km 154.6 on Gujarat stretch.
• The contract carries a 10-year defect liability period.
• NSE data showed the stock opened at Rs 102.94, reached a high of Rs 117.35 and was trading at Rs 113.43 as of 1:13 PM.

NHAI awards balance construction work Letter of Acceptance to Ashoka Buildcon

Ashoka Buildcon’s exchange filing disclosed that the National Highways Authority of India had issued the company a Letter of Acceptance for the expressway assignment.

The order covers completion of balance construction work on the eight-lane, access-controlled Vadodara–Mumbai Expressway, the filing said.

The specified work package is the Karvad–Jujuwa section in Gujarat, according to the company’s filing.

The 26.6-km Gujarat section has an 18-month schedule and 10-year liability

The Karvad–Jujuwa section runs from km 128.0 to km 154.6, Ashoka Buildcon’s exchange filing said.

NHAI awarded the work on an engineering, procurement and construction basis, according to the filing.

The company disclosed an 18-month completion period for the assignment.

Ashoka Buildcon’s filing also specified a 10-year defect liability period for the contract.

Ashoka Buildcon also won a Rs 290.23 crore railway order in October

Ashoka Buildcon said it won a Rs 290.23 crore order from North Eastern Railway in October to upgrade electric traction power supply installations in Uttar Pradesh.

This contract covers design, supply, construction, testing and commissioning of the traction substations and their associated switchgear for a proposed 2x25kV AC traction power supply system.

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