Ashoka Buildcon JV wins ₹1,816 cr BMC LoA for Mithi River development project

Ashoka Buildcon Ltd on Wednesday said its joint venture with Adani Road Transport and Aakshaya Infra has received a Letter of Acceptance (LoA) worth ₹1,815.79 crore from the Brihanmumbai Municipal Corporation (BMC).

The order relates to the Mithi River Development and Pollution Control Project (Package III), covering dry-weather flow interception at tidal outfalls, transfer sewers, river training, service roads, retaining walls, and allied works.

The project also includes 10 years of operations and

maintenance on a Design, Build and Operate model.

The JV shareholding stands at Adani Road Transport 51% (lead member), Ashoka Buildcon 26%, and Aakshaya Infra 23%. The design and build phase will span 48 months, excluding monsoon periods, after which the long-term maintenance phase will commence.

The order bolsters Ashoka Buildcon’s infrastructure pipeline at a time when several urban renewal and river restoration works are being accelerated across Mumbai.

Ahead of the announcement, shares of Ashoka Buildcon closed at ₹163.99, down 2.09% on the NSE.