Latest news with #AshokaBuildconLimited
Business Upturn
4 days ago
- Business
- Business Upturn
Ashoka Buildcon's Rs 1,673 crore infrastructure project halted following Bombay High Court order
Ashoka Buildcon Limited has announced a major setback regarding its infrastructure project awarded under the Navi Mumbai Airport Influence Notified Area (NAINA) initiative. The company, in joint venture with Aakshya Infra Projects Private Limited, was previously selected by the City & Industrial Development Corporation of Maharashtra Ltd. (CIDCO) for the 'Integrated Infrastructure Development' project. The ₹1,673.25 crore project, awarded via a Letter of Acceptance dated October 10, 2024, involved the development of 20-meter-wide and above roads, construction of major and minor structures such as flyovers, minor bridges, VUPs, and PUPs, along with allied electrical works in TPS-10 and TPS-11 regions under the NAINA scheme. Advertisement However, as per a communication from CIDCO dated June 5, 2025, Ashoka Buildcon has been instructed to halt all project-related activities. This directive follows a ruling by the Hon'ble High Court of Bombay, which quashed the financial bid that led to the contract award. Ashoka Buildcon has stated that the material and financial impact of the halt will be evaluated and disclosed in due course. No contract execution had taken place as of the date of the notice.
Business Upturn
5 days ago
- Automotive
- Business Upturn
Ashoka Buildcon bags Rs 1,387 crore traffic management projects across Maharashtra
By Aman Shukla Published on June 5, 2025, 15:36 IST Ashoka Buildcon Limited, along with its subsidiary Ashoka Purestudy Technologies Private Limited (APTPL), has received confirmation for multiple contracts from the Motor Vehicles Department of Maharashtra. The projects involve the design, implementation, integration, operation, and maintenance of Intelligent Traffic Management Systems (ITMS) across several key regions in the state. The awarded contracts cover the Nagpur, Mumbai, Pune, Konkan & Western Maharashtra, and Marathwada circles. Each project is set to run for a duration of ten years following the completion of a 15-month implementation period. The total estimated value for all projects, including GST, stands at over ₹1,387 crore, with individual allocations ranging from around ₹179 crore in Nagpur to nearly ₹315 crore in the Konkan & Western Maharashtra and Marathwada regions. These contracts mark a significant infrastructure initiative by the state's transport authorities aimed at enhancing traffic management and road safety. The work orders are expected to be issued soon, which will confirm the final value of the projects. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Deccan Herald
13-05-2025
- Deccan Herald
Nine injured in road crash near Bengaluru airport, one critical
According to the police, there were 35 employees of highway developer and construction engineering firm Ashoka Buildcon Limited in the bus bearing the registration KA 03 C 3642.
Business Upturn
22-04-2025
- Business
- Business Upturn
Ashoka Buildcon secures Rs 568.86 crore gauge conversion project from Central Railway
By Aditya Bhagchandani Published on April 22, 2025, 16:27 IST Ashoka Buildcon Limited has officially announced the receipt of a Letter of Acceptance (LoA) from Central Railway for a major infrastructure project. The accepted contract value stands at ₹568.86 crore, inclusive of GST, and involves comprehensive civil engineering works along a key railway corridor. According to the company's filing to the stock exchanges on April 22, the project includes the construction of earth work, major and minor bridges, RUBs (road under bridges), P. Way work, and other miscellaneous civil works as part of the gauge conversion between Pachora and Jamner, spanning approximately 53.3 km. The project scope specifically excludes the Pachora yard and road over bridges. Ashoka Buildcon confirmed the order falls under the Engineering, Procurement and Construction (EPC) category and will be executed over a period of 913 days. This project was awarded by a domestic public sector entity and is not considered a related party transaction. The latest contract is part of the company's ongoing strategic efforts to strengthen its order book in the railway infrastructure sector, aligning with national goals of modernizing transport infrastructure and improving rail connectivity. Ashoka Buildcon's stock is likely to remain in focus following this development as investors gauge the growth potential from this sizeable public sector order. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
