Ashoka Buildcon Shares Jump 14% After Winning ₹866 Crore NHAI Contract; Stock Still Down Nearly 43% In A Year

Ashoka Buildcon shares jumped as much as 14% on Wednesday, 11 November, after the infrastructure company received a ₹865.90 crore highway construction order from the National Highways Authority of India (NHAI). The Letter of Acceptance (LoA) confirms the award of the contract, for which the company had submitted its bid on 5 November.

The stock touched an intraday high of ₹117.36, against its previous close of ₹103. It opened the session at ₹108.62. Even after Wednesday's sharp recovery, the shares remained well below their 52-week high of ₹204.15, recorded in November 2025. The stock had touched a 52-week low of ₹95.40 in October 2026.

At 10:50 AM, Ashoka Buildcon’s share price stood at ₹114.81, up 11.52%. The latest order news has brought buyers back to the counter, though the company's weak September-quarter numbers remain a concern.

Ashoka Buildcon Gets ₹865.90 Crore NHAI Order: What Is The Project?

The new contract covers the remaining construction work on a 26.6-km stretch of an eight-lane, access-controlled expressway in Gujarat. The section runs between Karvad and Jujuwa, from Km 128.0 to Km 154.6.

Ashoka Buildcon will carry out the work under the engineering, procurement and construction (EPC) model. The contract is worth ₹865.90 crore, excluding GST.

The company had earlier announced that it was the lowest bidder (L1) for the project. The LoA now confirms the award and moves the contract beyond the bidding stage.

This is not the company's only recent order win. In October, Ashoka Buildcon received a Letter of Acceptance worth ₹290.23 crore from North Eastern Railway. That project involves strengthening the electric traction power supply infrastructure in Uttar Pradesh.

The latest NHAI contract adds to its highway order book, while the railway project brings in work from another infrastructure segment. Ashoka Buildcon undertakes projects under EPC and Build, Operate and Transfer (BOT) models and also operates in the ready-mix concrete business.

Ashoka Buildcon Q2 FY27 Results: Company Swings To Loss

The order announcement comes against a difficult quarter for the company. Ashoka Buildcon reported revenue of ₹1,504.62 crore in Q2 FY27, down 18.72% from ₹1,851.18 crore in the September quarter of the previous year.

The bigger setback was at the profit level. The company posted a net loss of ₹118.96 crore, compared with a net profit of ₹90.70 crore in Q2 FY26.

Its net profit margin also slipped into negative territory. The margin stood at -7.9% during the quarter, against 4.9% a year earlier.

Wednesday's rally reflects the market's response to the fresh NHAI order. However, the stock's fall from its 52-week high and the September-quarter loss show why investors will also be watching the company's execution and financial performance in the coming quarters.

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