Ashoka Buildcon: Joint Venture Wins ₹1,041 Crore Flyover EPC Project In Mumbai

Ashoka Buildcon Limited has secured a significant infrastructure contract through its joint venture partnership. The joint venture between Ashoka Buildcon and Aakshaya Infra Projects Private Limited has received the Letter of Acceptance from Brihanmumbai Municipal Corporation (BMC) for a major flyover construction project.

Project Details and Specifications

The awarded project involves the construction of a flyover connecting J.J. Bridge and Sitaram Selam Bridge, commonly known as Y Bridge, located at J.J. Road and Saboo Siddik Polytechnic Road Junction in E Ward. This infrastructure development aims to improve traffic connectivity in the Mumbai region.

Parameter:	Details
Project Value:	₹1,041.44 crores (including GST)
Execution Timeline:	24 months (excluding monsoon period)
Project Type:	EPC/Construction Work
Location:	E Ward, Mumbai
Awarding Authority:	Brihanmumbai Municipal Corporation (BMC)

Joint Venture Structure

The project will be executed through M/s Ashoka-Aakshaya JV, where Ashoka Buildcon Limited serves as the lead member with a 51% stake. Aakshaya Infra Projects Private Limited holds the remaining 49% partnership in this joint venture arrangement.

Joint Venture Details:	Specifications
Lead Partner:	Ashoka Buildcon Limited (51%)
Partner:	Aakshaya Infra Projects Private Limited (49%)
Entity Type:	Domestic
Contract Nature:	Domestic Entity Award

Regulatory Compliance and Disclosure

The company has made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the requirements outlined in Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

As part of regulatory protocols, the trading window for designated persons of the company and their immediate relatives will remain closed for 48 hours following this disclosure. The project does not involve any related party transactions, and there are no interests held by promoters or group companies in the awarding entity.

Project Significance

This project award reinforces Ashoka Buildcon's position in the infrastructure development sector, particularly in urban transportation projects. The flyover construction will contribute to Mumbai's infrastructure enhancement and traffic management solutions. The 24-month execution timeline, excluding monsoon periods, indicates a structured approach to project completion considering seasonal factors that typically affect construction activities in the region.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.96%	-1.57%	-1.09%	-21.30%	-45.65%	+80.55%

Ashoka Buildcon has received the Letter of Acceptance (LoA) for a major infrastructure project from the Brihanmumbai Municipal Corporation (BMC). The project, valued at ₹1,815.79 crores excluding GST, involves the Mithi River Development and Pollution Control Project (Package III), representing a significant milestone for the company's infrastructure portfolio. The project bid price has been confirmed at ₹18.16 billion.

Project Details and Scope

The comprehensive project encompasses Dry Weather Flow Interception at Tidal Outfalls (including Gate Pumps), Transfer Sewer, Training of River, Service Road, Retaining Wall and Allied Works. The scope extends from CST Bridge Kurla to Mahim Causeway including Vakola River on a Design, Build and Operate model.

Parameter:	Details
Project Value:	₹1,815.79 crores (excl. GST)
Bid Price:	₹18.16 billion
Project Type:	Design, Build and Operate
Design & Build Period:	48 months (excluding monsoon)
Operation & Maintenance:	10 years
Nature:	Domestic project

Joint Venture Partnership Structure

The project will be executed through the M/s Adani-Ashoka-Aakshaya Joint Venture, bringing together expertise from three infrastructure companies. The partnership demonstrates a strategic collaboration for handling large-scale municipal infrastructure development.

Partner:	Stake
Adani Road Transport Limited:	51% (Lead Member)
Ashoka Buildcon Limited:	26%
Aakshaya Infra Projects Private Limited:	23%

Strategic Significance

The Letter of Acceptance confirms Ashoka Buildcon's successful bid participation in this substantial BMC infrastructure initiative. The project focuses on critical environmental infrastructure, addressing river development and pollution control measures in the Mumbai metropolitan region.

The 48-month construction timeline, excluding monsoon periods, followed by a 10-year operation and maintenance phase, ensures long-term revenue visibility for the joint venture partners. This project structure aligns with the Design, Build and Operate model, providing comprehensive project lifecycle involvement.

Market Impact

This contract win significantly strengthens Ashoka Buildcon's order book and reinforces its position in the municipal infrastructure segment. The company's 26% stake in the joint venture ensures substantial participation in project execution while benefiting from the partnership with Adani Road Transport Limited as the lead member.