Ashoka Buildcon shares soar 14% after new NHAI order win, still down 43% in 1 year - check contract details, performance

Résumé détaillé

Ashoka Buildcon shares rose as much as 14% after the company received an ₹865.90 crore NHAI contract to complete a 26.6-km expressway section in Gujarat. The award boosted sentiment despite Q2 FY27 revenue falling 18.72% year on year and the company reporting a net loss of ₹118.96 crore.

The order announcement lifted investor sentiment, with the stock gaining as much as 14% during the session. However, the rally came against the backdrop of weak quarterly earnings, with the company reporting an 18.72% year-on-year decline in revenue and swinging to a net loss in the September quarter of FY27.

Ashoka Buildcon shares climbed 14% to touch an intra-day high of ₹117.36. The stock had opened at ₹108.62, compared with its previous closing price of ₹103. Despite Wednesday's sharp gains, it remained significantly below its 52-week high of ₹204.15, recorded in November 2025. Its 52-week low stood at ₹95.40, touched in October 2026.

The latest contract involves completing the balance construction work on an eight-lane, access-controlled section of the expressway between Karvad and Jujuwa in Gujarat. The project covers a stretch of 26.6 km, extending from Km 128.0 to Km 154.6.

Ashoka Buildcon will execute the project under the engineering, procurement and construction (EPC) model. The contract is valued at ₹865.90 crore, excluding Goods and Services Tax (GST).

The latest development follows the company's announcement earlier this month that it had emerged as the lowest bidder (L1) for the NHAI project. The receipt of the LoA now formalises the contract award, taking the project from the bidding stage to execution.

The two contract wins across highways and railway infrastructure highlight the company's presence in multiple infrastructure construction segments. While the October order added to its railway infrastructure portfolio, the latest NHAI contract further expands its highway construction pipeline.

The ₹865.90 crore project is particularly significant as it adds another sizeable EPC contract to the company's order pipeline. Ashoka Buildcon is engaged in the construction of infrastructure facilities under the Engineering, Procurement and Construction (EPC) and Built, Operate and Transfer (BOT) models. It is also involved in the sale of ready-mix concrete.

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