Shares of Ashoka Buildcon Ltd soared 6% on 8 December after the company announced securing a Rs 447.21 crore order from the Brihanmumbai Municipal Corporation (BMC).

In its regulatory filing, the company said, “Ashoka Buildcon informs that the company has received a Letter from the Brihanmumbai Municipal Corporation (BMC) awarding additional scope of work in respect of the existing project, viz. ‘Construction of Flyover Arm-1 Arm-2 at T Junction on Sion Panvel Highway, Maharashtra Nagar in M/E Ward’. (“Project).”

This is for an ongoing project to build a flyover arm at the T-junction of Sion Panvel Highway in Maharashtra Nagar. The project’s overall cost now stands at Rs 1,573.79 crore due to the additional order.  The revised timeframe for finishing both existing and extra work is 13 January 2028.

The company has also announced that its trading window for specified individuals and their relatives would remain blocked for 48 hours following this disclosure.

Apart from that, Ashoka Buildcon was served with a show-cause notice on 26 November 2025, for the building of the six-lane elevated corridor from Aroor to Thuravoor Thekku on NH-66.

The notification referred to an occurrence in which two precast PSC girders fell, one of which struck a commercial vehicle and killed the driver. The corporation was temporarily barred from participating in NHAI’s ongoing or future bids for a month, or until the expert committee’s investigation was completed, whichever came later.

However, Ashoka Buildcon refuted the claim that public safety was jeopardised. According to the petition, the occurrence in question was caused by circumstances that were unexpected and not due to a failure in the company’s safety protocols.

In its defence, the corporation stated that the incident was caused by a hydraulic jack failure. The collapse was rapid and unexpected, with no earlier warning indications, and was caused by internal seal damage.

At 1:09 pm, the shares of Ashoka Buildcon were trading 2.22% higher at Rs 164.14 on NSE.

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