Date: September 25, 2026
Operational Highlights
Order Book Position
- Total order book as on March 31, 2026: ₹15,312 crore
- Breakdown by segment:
- Roads and railway projects: ₹10,122 crore (66.11% of total)
- HAM road projects: ₹1,618 crore
- EPC road projects: ₹7,084 crore
- Railway projects: ₹1,420 crore
- Power T&D projects: ₹3,533 crore (23% of total)
- EPC building segment: ₹562 crore
New Project Awards - Bridges and Water Treatment (₹2,434 crore)
- Mithi River Development and allied works (BMC): ₹1,816 crore excluding GST (company stake: ₹844.34 crore excluding GST) in JV with Adani-Ashoka-Aakshaya
- Construction of flyover near JJ Flyover (BMC, Mumbai): ₹1,041 crore including GST
- Signature bridge near Jampore Sea Front road (Public Works Department, Daman): ₹307.7 crore excluding GST
- H.L.R.C.C. Bridge over River Gandak (Bihar Rajya Pul Nirman Nigam): Company share ₹241.9 crore
New Project Awards - Railway (₹1,608 crore)
- Gauge conversion from Pachora to Jamner (53.3 km): ₹568.86 crore including GST
- Up-gradation of existing Electric Traction System (Jaipur): ₹499.95 crore including GST
- Up-gradation of existing Electric Traction System (Ajmer): ₹539.35 crore including GST
New Project Awards - Smart Infrastructure (₹2,523 crore)
- Intelligent Traffic Management Systems across five circles in Maharashtra: ₹1,387 crore including GST
- Modernization of Offices under Inspector General of Registration, Maharashtra: ~₹1,136 crore
International Project Awards (USD 392 million)
- East Bank–East Coast Road Linkage Project Phase 2, Guyana: USD 67.25 million
- Road project from Nrowkia to Barclayville and Sasstown, Liberia: USD 45 million
- Power Distribution Networks, Angola: USD 72 million
- Project at Kingdom of Saudi Arabia (Diriyah Company): Subsidiary's 49% stake in project value SAR 717.086 (USD 207.95 million)
Asset Monetization & Corporate Actions
Stake Sales in November 2025
- Ashoka Concessions Limited sold 100% stake in five BOT SPVs to Maple Infrastructure Trust: Aggregate consideration ₹1,814 crore
Stake Sales in September 2025
- Ashoka Concessions Limited and Ashoka Buildcon Limited sold 100% stake in five HAM SPVs to Edelweiss: Aggregate consideration ₹1,146 crore
Acquisitions
- November 2025: Ashoka Concessions Limited became Wholly Owned Subsidiary of Ashoka Buildcon Limited
- Viva Highways Limited acquired 26% equity shares in Jaora-Nayagaon Toll Road Company Private Limited from Macquarie: Consideration ₹166.6 crore
Project Completion
FY26 Project Completions
- Road projects: Belgaum Sankeshwar, Pararia-Mohania, Kwaram-Tauro, Memmadpur-Ambala, Project 1, 2 & 3 at Guyana
- Power projects: Mangaldoi (Assam), Dharam Katra (Jammu & Kashmir)
Financial Position
Debt Metrics
- Standalone debt equity ratio: 0.49x as at March 31, 2026
Credit Ratings
- Acuite Ratings: AA Stable (Long Term, reaffirmed), A1+ (Short Term, reaffirmed)
Subsidiary Structure
Ashoka Concessions Limited (100% Subsidiary)
- HAM Projects: Mallasandra Karadi Road (100%), Karadi Banwara Road (100%), Belgaum Khanapur Road (100%)
- BOT Projects: Jaora-Nayagaon Road (100% with Viva Highways Ltd)
ABL Owned Projects
- BOT Annuity: Bagewadi Saundatti (100%), Chennai ORR (100%), Hungud Talikot (100%)
- HAM Projects: Banwara Bettadahalli Road (100%), Bettadahalli Shivamogga Road (100%), Basawantpur Singnodi Road (100%), Bowaichandi Guskara Road (100%)