Ashoka Buildcon Limited announced the receipt of a provisional Commercial Operation Date (COD) certificate for its National Highways Authority of India (NHAI) Hybrid Annuity Mode (HAM) project. The disclosure was made to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI LODR Regulations, 2015.
Project Details
The project involves "Four Laning of Tumkur Shivamogga Section from 121+900 (Banwara) to km. 170+415 (Bettadahalli) of NH-206 on Hybrid Annuity Mode under Bharatmala Pariyojana (Package – III) in the state of Karnataka (Package-III)".
COD Declarations
- First COD: 39.050 km declared operational effective October 17, 2023 (via NHAI letter dated October 18, 2023)
- Second COD: 3.925 km declared operational effective October 15, 2024 (via letter dated October 28, 2024)
- Latest COD: 4.221 km declared operational with October 13, 2026 as Commercial Operation Date (via Independent Engineer letter dated October 23, 2026)
Total Operational Length
The SPV has received provisional certificates for completion of total length of 47.196 km in aggregate (revised after de-scoping).
Project Execution
The project is executed by Ashoka Banwara Bettadahalli Road Private Limited, a Wholly Owned Subsidiary of Ashoka Buildcon Limited.
Financial Implications
Consequent upon the declaration of First COD, the SPV is already eligible for receipt of Annuity payments from NHAI for the operation period of 15 years at the interval of every 6 months from the date of achievement of First COD (October 17, 2023).