Ashoka Buildcon Limited (ABL) has announced the mutual foreclosure of a significant EPC (Engineering, Procurement, and Construction) project in Ivory Coast, originally valued at €18.50 million. The project, which involved the construction of 100 drinking water wells and the supply and installation of drinking water supply units in 35 villages, has been terminated by mutual agreement with the main contractor, Serneke International Limited of Sweden.

Project Details and Closure

The project closure was formalized through a final agreement executed on September 19, 2025. According to the company's filing with the stock exchanges, the decision to foreclose the project was reached after considering the terms and conditions of the contract and the progress made to date.

Reasons for Termination

Several factors contributed to the project's foreclosure:

• Overall delays in granting necessary approvals
• Issues with land availability for work
• Delays in obtaining approvals for drawings and designs

Financial Impact

Ashoka Buildcon has assured its stakeholders that the foreclosure will not have any negative financial impact on the company. The settlement between ABL and Serneke International Limited has been concluded with no further obligations on either party.

Management Statement

Manoj A. Kulkarni, Company Secretary of Ashoka Buildcon Limited, stated in the regulatory filing:

"The Company and M/s Serneke International Limited have mutually decided to foreclose the said Project, after considering the terms & conditions of the Contract and progress of the Project. The parties have executed final closure of the Contract agreement on September 19, 2025 and settled the short closure of the contract with no further obligations on either parties."

This development comes as part of Ashoka Buildcon's ongoing project management and strategic decision-making processes. The company's assurance of no negative financial impact suggests a prudent approach to managing its project portfolio and mitigating potential risks associated with delayed or challenging projects.

Ashoka Buildcon , a prominent player in the construction and infrastructure sector, has clinched a significant contract valued at ₹500.00 crore. This latest project win is set to strengthen the company's order book and enhance its business operations.

Contract Details

The newly secured contract, worth ₹500.00 crore, represents a substantial addition to Ashoka Buildcon's project portfolio. While specific details about the nature of the project remain undisclosed, the magnitude of the contract suggests it could be a major infrastructure development initiative.

Impact on Business Operations

This new project is expected to have a positive impact on Ashoka Buildcon's business operations. The ₹500.00 crore contract will not only contribute to the company's order book but also potentially boost its revenue stream in the coming quarters.

Company Overview

Ashoka Buildcon is known for its expertise in various infrastructure segments, including roads, bridges, and power transmission. The company has been actively participating in India's infrastructure development, and this latest contract further solidifies its position in the sector.

Market Implications

The announcement of this substantial contract could potentially influence investor sentiment towards Ashoka Buildcon. It demonstrates the company's continued ability to secure large-scale projects, which is crucial for growth and sustainability in the competitive infrastructure industry.

As the infrastructure sector plays a vital role in India's economic development, contracts of this magnitude underscore the ongoing investments and opportunities in this space. Ashoka Buildcon's success in securing this project may be indicative of the company's strong market position and competitive edge.

Investors and market analysts will likely keep a close eye on how this new contract translates into financial performance for Ashoka Buildcon in the upcoming quarters.