Ashoka Buildcon Limited has informed the Exchange about Receipt of Provisional Certificate (COD) for NHAI Project by its subsidiary.
ASHOKA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Ashoka Buildcon's subsidiary SPV, Ashoka Karadi Banwara Road Private Limited, has received a Provisional Certificate declaring February 28, 2026 as the Commercial Operation Date (COD) for an additional 2.68 KM stretch of its NHAI highway project. This is the third COD for the project, following the first COD of 41.61 KM in September 2023 and the second COD of 8.595 KM in March 2025. In aggregate, the SPV has now completed 52.885 KM out of the revised total project length of 53.315 KM (after de-scoping), meaning the project is over 99% complete. The SPV has already been receiving annuity payments from NHAI every six months over a 15-year operation period since the first COD in September 2023.
This is a near-completion milestone for the project and does not change the company's revenue trajectory, since annuity payments have already commenced. It slightly strengthens the long-term cash flow visibility from this NHAI project and removes residual execution risk on the remaining ~0.43 KM stretch.