Standalone Financial Performance

Ashoka Buildcon Limited reported its unaudited financial results for Q2 FY27 and H1 FY27 ended September 30, 2026.

Q2 FY27 Financial Highlights (₹ Crores):

  • Total Income: ₹1,356.2 (vs ₹1,302.6 in Q2 FY26, +4.12% YoY)
  • EBITDA: ₹133.9 (vs ₹159.8 in Q2 FY26, -16.18% YoY)
  • EBITDA Margin: 9.8% (vs 12.3% in Q2 FY26)
  • Profit Before Tax (Before Exceptional Gains): ₹51.4 (vs ₹57.2 in Q2 FY26, -10.06% YoY)
  • Profit After Tax: ₹37.9 (vs ₹139.2 in Q2 FY26, +2.80% YoY)

H1 FY27 Financial Highlights (₹ Crores):

  • Total Income: ₹2,676.6 (vs ₹2,641.7 in H1 FY26, +1.32% YoY)
  • EBITDA: ₹259.4 (vs ₹310.5 in H1 FY26, -16.43% YoY)
  • EBITDA Margin: 9.7% (vs 11.8% in H1 FY26)
  • Profit Before Tax (Before Exceptional Gains): ₹94.4 (vs ₹100.5 in H1 FY26, -6.04% YoY)
  • Profit After Tax: ₹59.5 (vs ₹169.8 in H1 FY26, -59.07% YoY)

Order Book Summary as on September 30, 2026

| Segment | Value (₹ Crores) | % of Order Book |

| Road EPC | 6,173 | 38.7% |

| Road HAM | 1,436 | 9.0% |

| Building EPC | 941 | 5.9% |

| Railways | 1,666 | 10.4% |

| Power T&D | 3,820 | 23.9% |

| SPV | 1,928 | 12.1% |

| Total Order Book | 15,964 | 100.0% |

Debt Position

  • Standalone Debt: ₹1,169 Crores (comprising ₹77 Crores Equipment loans, ₹893 Crores Working Capital loans, ₹200 Crores CPs)
  • Consolidated Debt: ₹2,781 Crores
  • BOT Division Toll Collection: ₹73.5 Crores in Q2 FY26, showing 9% de-growth YoY

Business Updates and Contract Awards

Receipt of LOI from REC Power Development and Consultancy Limited

  • Letter of Intent for establishment of 400/220/132 kV AIS Sakoli substation in Bhandara, Maharashtra
  • Project value: ₹1,265.37 Million annually for 35 years
  • Execution timeline: 24 months with O&M for 35 years

Receipt of LOA from Rail Vikas Nigam Limited

  • Letter of Acceptance for supply, erection, testing and commissioning of electro-mechanical systems including substations and associated infrastructure
  • Project: Tunnels T-13 to T-16 under Rishikesh–Karnprayag New BG Rail Line Project in Uttarakhand
  • Project value: ₹602.16 crore including GST
  • Execution timeline: 30 months

Acquisition of Sakoli Power Transmission Limited

  • Executed Share Purchase Agreement and acquired 100% equity stake in Sakoli Power Transmission Limited
  • Now a wholly owned subsidiary for development of high-voltage air-insulated substation
  • Addition to Company's power transmission infrastructure portfolio

Receipt of LOA from North Eastern Railway (Post September 30, 2026)

  • Letter of Acceptance for design, supply, erection, testing and commissioning of traction substations and associated switching posts
  • Project: 2×25 kV AT traction feeding system in Gorakhpur Cantt–Chhapra Gramin section of Varanasi Division
  • Under capacity upgradation of electric traction power supply installations on EPC basis

Receipt of Provisional Certificate (COD) for NHAI Project (Post September 30, 2026)

  • Commercial Operation Date (CoD) declared as October 07, 2026 for 45.05 KM stretch
  • Hybrid Annuity Mode (HAM) Project of NHAI: "Four Laning of Tumkur Shivamogga Section from 170+415 to km. 226+750, Bettdahalli Shivamogga of NH-206"
  • Under Bharatmala Pariyojna in Karnataka state
  • Based on recommendations from Independent Engineer letter dated October 09, 2026

Additional Provisional Certificate (COD) for NHAI Project (Post September 30, 2026)

  • Commercial Operation Date (CoD) declared as October 13, 2026 for 4.221 KM stretch
  • Second CoD received for 3.925 KM effective October 15, 2024 (letter dated October 28, 2024)
  • Project: "Four Laning of Tumkur Shivamogga Section from 121+900 (Banwara) to km. 170+415 (Bettadahalli) of NH-206"
  • Hybrid Annuity Mode under Bharatmala Pariyojana in Karnataka (Package-III)
  • Total completed length: 47.196 KMs in aggregate (revised after de-scoping)

L1 for National Highways Authority of India (NHAI) Project (Post September 30, 2026)

  • Declared as Lowest Bidder (L-1) for EPC project: "Request for Proposal for Balance Work for Construction of 8-lane access-controlled Expressway from Km 128.0 to Km 154.6 of Vadodara - Mumbai Expressway (Karvad to Jujuwa section) in Gujarat" (Pkg-IX)

Company Background

Ashoka Buildcon Limited is a Fortune India 500 company and leading highway developer in India, operating as an integrated EPC, BOT and HAM player with over 50 years of experience. The company has executed/been executing 41 PPP Projects across 20 states in the country.