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An update from Ashoka Buildcon Limited ( (IN:ASHOKA) ) is now available.
Ashoka Buildcon has announced that its special purpose vehicle, Ashoka Karadi Banwara Road Private Limited, has achieved commercial operation for an additional 2.68 km stretch of the Tumkur–Shivamogga four-laning project in Karnataka, taking the total completed length to 52.885 km out of a revised 53.315 km. This follows earlier CODs granted in September 2023 and March 2025, and the SPV has now received a provisional completion certificate for the aggregate length, underscoring near-final execution of the National Highways Authority of India hybrid annuity project.
With the first COD already declared in September 2023, the SPV has been eligible to receive semi-annual annuity payments from NHAI over a 15-year operations period, providing predictable cash flows to the group. The latest certification further de-risks the project, strengthens Ashoka Buildcon’s annuity-based revenue visibility, and reinforces its execution track record in national highway concessions, which is a key factor for lenders and investors in the road infrastructure space.
More about Ashoka Buildcon Limited
Ashoka Buildcon Limited is an Indian infrastructure and construction company focused on roads and highways, operating through subsidiaries and special purpose vehicles to execute projects for government agencies such as the National Highways Authority of India. The group is active in hybrid annuity mode highway concessions, providing long-term operation and maintenance alongside construction services.
Average Trading Volume: 52,628
Technical Sentiment Signal: Sell
Current Market Cap: 32.91B INR
For an in-depth examination of ASHOKA stock, go to TipRanks’ Overview page.