Infrastructure firm Ashoka Buildcon announced it has secured a significant contract from the National Highways Authority of India (NHAI) for work on the Vadodara-Mumbai Expressway. The project, valued at Rs 865.90 crore (excluding GST), involves the balance construction of a crucial section in Gujarat.
The company confirmed receiving a Letter of Acceptance (LoA) from NHAI on Monday, November 9, following its bid submission on November 5, 2026. This formal award comes after Ashoka Buildcon was identified as the lowest bidder (L1) for the project earlier in the month.
Vadodara-Mumbai Expressway Project Details
The contract focuses on completing an eight-lane, access-controlled stretch of the expressway between Karvad and Jujuwa. This section spans 26.6 kilometers, specifically from Km 128.0 to Km 154.6, within Gujarat. The work will be executed under the Engineering, Procurement and Construction (EPC) model, ensuring comprehensive delivery from design to completion.
Strengthening Infrastructure Pipeline
This latest NHAI order significantly bolsters Ashoka Buildcon's project pipeline, reinforcing its presence in the vital highways and infrastructure construction sectors. The company has been actively expanding its portfolio, having recently secured another substantial order in October.
That previous contract, valued at Rs 290.23 crore, was awarded by North Eastern Railway. It entailed the design, supply, erection, testing, and commissioning of electric traction power supply infrastructure, including traction substations and associated switching posts, for a 2x25 kV alternating current (AC) traction feeding system in Uttar Pradesh.
On Monday, following the contract announcement, shares of Ashoka Buildcon closed marginally lower by 0.19% at Rs 103, with the firm's market capitalization standing at Rs 2891 crore.