Ashoka Buildcon unit offloads stake in 5 SPVs for ₹1,804 Crore

27 Nov 2025 , 11:18 AM

Ashoka Buildcon Ltd announced that Ashoka Concessions Ltd (ACL) has sold all of its stake in five special purpose vehicles (SPVs) to Maple Infrastructure Trust and its nominees. ACL is a material subsidiary of Ashoka Buildcon.

At around 11.16 AM, Ashoka Buildcon was trading 2.19% higher at ₹181.90, against the previous close of ₹178 on NSE. The counter touched an intraday high and low of ₹187.40, and ₹181.01, respectively.

The company said that it completed the transaction on November 26, 2025. The sale is carried out at an aggregate consideration of ₹1,814.42 Crore.

The SPVs named in the sale include Ashoka Highways (Bhandara) Ltd, Ashoka Highways (Durg) Ltd, Ashoka Belgaum Dharwad Tollway Ltd, Ashoka Sambalpur Baragarh Tollway Ltd, and Ashoka Dhankuni Kharagpur Tollway Ltd. The sale comes after the company has executed several agreements starting on October 30, 2024.

In its results for the quarter ended September 2025, the business posted a sharp decline of 83% on a year-on-year basis to ₹78.06 Crore. The business logged a 25.60% decline in its revenue for the September 2025 quarter at ₹1,851 Crore as compared to ₹2,489 Crore in the same quarter of previous year. EBITDA for the quarter slipped as much as 35.40% to ₹585 Crore. Also, margins declined to 31.60% as compared to 36.30% in the same quarter of previous year. Ashoka Buildcon posted a consolidated net profit of ₹217.30 Crore in the quarter ended June 30, 2025.

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