Ashoka Buildcon Limited has informed the Exchange about Disclosure of information under Regulation 30 of the SEBI (LODR) Regulations, 2015
ASHOKA · price
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Awaiting price reaction for this filing.
Ashoka Buildcon Limited, in a JV with Aakshya Infra Projects, was awarded an EPC project by CIDCO worth ₹1,673.25 Crore plus GST in October 2024 for infrastructure development under the NAINA Project in Maharashtra. On June 5, 2025, CIDCO instructed the company to stop all work on the project after the Bombay High Court quashed the financial bid. The company has stated that material and financial impacts are still being evaluated and will be communicated later. The project involved construction of wide roads, flyovers, bridges, and allied electrical works across TPS-10 and TPS-11.
This is a significant negative development for Ashoka Buildcon, as a large contract representing meaningful order book value has been halted due to a court intervention, creating uncertainty around revenue recognition and potential losses. Investors should watch for the company's assessment of financial impact and any legal recourse the company may pursue.