₹15,927 Cr Order Book: Infra Stock Receives ₹241 Cr Order from Bihar Govt.

Synopsis: Ashoka Buildcon secured a ₹474.38 crore EPC bridge project in Bihar via a JV, with a 51% share worth ₹241.93 crore, strengthening its infrastructure order book.

This Small-cap Infra Stock, engaged in highway construction, EPC projects, BOT/HAM road development, railways, power transmission, urban water supply, and smart city infrastructure, jumped 5.87 percent after receiving an order worth Rs. 241.93 crore from Bihar Rajya Pul Nirman Nigam Limited 

With a market capitalization of Rs. 4,582.81 crores, the share of Ashoka Buildcon Limited has reached an intraday high of Rs. 164 per equity share, rising nearly 5.87 percent from its previous day’s close price of Rs. 154.90. Since then, the stock has retreated and is currently trading at Rs. 163.25 per equity share. 

Reason Behind the Surge

Ashoka Buildcon Limited has received a Letter of Acceptance through its joint venture with Aakshya Infra Project Private Limited for a major infrastructure project awarded by Bihar Rajya Pul Nirman Nigam Limited. The project involves the construction of a 2,280-meter H.L.R.C.C. bridge over the River Gandak, along with additional bridges and approach roads in Muzaffarpur district under EPC mode. The total accepted bid value is Rs. 474.38 crore.

Ashoka Buildcon holds a 51 percent stake in the joint venture as the lead partner, translating to a company share of Rs. 241.93 crore in the project value. The execution timeline is 30 months. This order strengthens the company’s infrastructure order book and reinforces its presence in large-scale bridge construction projects, supporting revenue visibility and long-term growth in its EPC portfolio.

Order Book

Ashoka Buildcon Limited reported a strong order book of Rs. 15,927 crore as of 31 December 2025, reflecting healthy project visibility. The order mix is led by Road EPC projects, contributing 44.1 percent, followed by Power T&D at 32.1 percent. 

Road HAM accounts for 10.8 percent, while Building EPC and Railways contribute 3.3 percent and 9.8 percent respectively. The diversified portfolio strengthens revenue stability and supports sustained execution momentum across infrastructure segments.

Ashoka Buildcon Limited was founded in 1976 and is headquartered in Nashik, India. The company stands as a prominent infrastructure developer and a leader in highway construction. The firm excels in engineering, procurement, and construction (EPC) projects alongside build-operate-transfer (BOT) and hybrid annuity mode (HAM) initiatives, delivering transformative highways, bridges, railways, power transmission lines, urban water systems, and smart city solutions nationwide.

Recent Quarter Results

Coming into financial highlights, Ashoka Buildcon Limited’s revenue has decreased from Rs. 1,827 crore in Q2 FY25 to Rs. 2,388 crore in Q2 FY26, which has decreased by 23.49 percent. The net profit has also grown by 218.88 percent from Rs. 662 crore in Q2 FY25 to Rs. 2,111 crore in Q2 FY26. Ashoka Buildcon Limited’s revenue and net profit have grown at a CAGR of 14.64 percent and 61.06 percent, respectively, over the last five years.

In terms of return ratios, the company’s ROCE and ROE stand at 39.7 percent and 54.8 percent, respectively. Ashoka Buildcon Limited has an earnings per share (EPS) of Rs. 101, and its debt-to-equity ratio is 0.47x.

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