Ashoka Buildcon
- Market cap
- ₹ 2,754 Cr.
- P/E
- 4x
- P/B
- 0.43x
- 52-week range
- 96 – 214.5
- ROE
- 15%
- ROCE
- 27%
- Dividend yield
- 0%
- Debt / equity
- 0.24
- Sector
- Construction
- Industry
- Civil Construction
- Listed on
- NSE, BSE
About
Ashoka Buildcon Limited is an India-based highway developer. The Company is engaged in the engineering, procurement and construction (EPC), build-operate-transfer (BOT), and hybrid annuity mode (HAM) businesses. Its segments include Construction & Contract, BOT/Annuity Projects and Sale of Goods. The Construction & Contract segment includes engineering, procurement and construction activity for road, rail and power projects. The BOT/Annuity Projects segment includes toll collection and hybrid annuity road projects. The Sale of Goods segment includes the sale of ready-mix concrete, real estate, and city gas distribution. Its verticals include highways and bridges, power, railways, buildings, city gas distribution, and water. Its water vertical includes the designing and construction of modular Sewage Treatment Plants. Its projects include the 8 Lane Extra Dosed Cable Stayed Bridge, Eastern Peripheral Expressway, Mopa Airport Link Project, Goa, and Railway Over Bridge.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Civil Construction: 182 companies →Ashoka Buildcon against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)4 against a typical 14.4: cheaper than most peers (1st = cheapest).11th of 181
- Sales growth−20.5% against a typical +8.6% from a year earlier.121st of 147
- Profit growth−44.1% against a typical 0% from a year earlier.90th of 130
- Share price, 3 months−22.3% against a typical −13.1%.122nd of 164
- Size₹ 2,753.9 Cr. market value against a typical ₹ 148 Cr. (1st = largest).24th of 156
Latest announcements
Exchange filings and their impact on the company.
- NHAI project reached provisional COD, starting annuity and O&M cash flows.
Ashoka Buildcon received the provisional completion certificate for its NHAI Banwara project, declaring commercial operation. This allows the project to start receiving annuity and operation and maintenance payments from NHAI. It is a single-project commissioning milestone that modestly improves cash flow visibility.
- Ashoka Buildcon received an A+ Leader ESG rating with score 79.44, with no direct financial impact.
Ashoka Buildcon said Resurgent ESG Services assigned it an ESG score of 79.44, corresponding to an A+ rating in the Leader category, based on FY2025-26 data. The assessment covered its EPC, BOT and HAM infrastructure activities on environment, social and governance factors. The rating has no direct revenue or profit impact but supports its sustainability and governance credentials with investors and lenders.
- Routine commercial paper redemption with no material business impact.
Ashoka Buildcon informed the exchanges about redemption of its commercial paper. The filing filename indicates a CP redemption on October 19, 2026, though the amount was not extractable from the document. This is a routine maturity repayment that marginally reduces short-term debt and has no material impact on revenue or profits.
- Ashoka Buildcon achieved provisional COD for its NHAI Bettadahalli project, starting operations and annuity cash flows.
Ashoka Buildcon received the provisional completion certificate and declared commercial operation (COD) for its NHAI project at Bettadahalli. The filing does not disclose project cost or annuity details. COD moves the project from construction to operations, enabling toll or annuity receipts plus O&M revenue and release of retentions, a small positive for cash flows over the next year.
- Ashoka Buildcon won a new LoA, adding to order book and supporting near-term revenue.
Ashoka Buildcon informed the exchange on 9 Oct 2026 that it has received a Letter of Acceptance, indicated as an NER order in the filing name. The extracted filing text did not disclose the order value, scope or timeline. Based on typical company order sizes, the win should modestly strengthen the order book and support revenue execution over the next 12 months.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
High safety
Rated AA to AA- by 2 agencies- All agencies agree and none has raised a warning.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Withdrawn | — | 12 Jun 2026 |
| Acuite | ACUITE AA | Stable | 24 Feb 2026 |
| CARE | CARE AA- (Rating Watch with Positive Implications) | — | 9 Jan 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 12 Jun 2026 | Withdrawn | — | — | CRISIL | ₹ 6,506 Cr. | |
| 24 Feb 2026 | Reaffirmed | ACUITE AA | — | Acuite | ₹ 9,200 Cr. | |
| 9 Jan 2026 | Reaffirmed | CARE AA- (Rating Watch with Positive Implications) | — | CARE | ₹ 1,100 Cr. | |
| 8 Dec 2025 | Reaffirmed | Crisil AA- | — | CRISIL | ₹ 6,506 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 5 Nov 2026Upcoming | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 11 Aug 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 21 May 2026 | Financial Results | To consider and approve the financial results for the period ended March 31, 2026 |
| 30 Jan 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 14 Nov 2025 | Financial Results | To consider, approve and taken on record the unaudited standalone and consolidated financial results (Limited Review) for the quarter and half year ended September 30, 2025 |
| 11 Aug 2025 | Financial Results/Fund Raising | To consider and approve the financial results for the period ended Jun 30, 2025 and Fund Raising |
| 23 May 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended March 31, 2025 and other business matters |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,154 | 2,657 | 3,052 | 2,465 | 2,489 | 2,388 | 2,694 | 1,887 | 1,851 | 1,827 | 1,954 | 1,500 |
| Expenses | 1,608 | 2,070 | 2,426 | 1,866 | 1,584 | 1,749 | 1,917 | 1,288 | 1,266 | 1,392 | 1,696 | 1,242 |
| Operating Profit | 546 | 587 | 626 | 599 | 905 | 639 | 777 | 599 | 585 | 435 | 258 | 258 |
| OPM % | 25% | 22% | 21% | 24% | 36% | 27% | 29% | 32% | 32% | 24% | 13% | 17% |
| Other Income | 41 | 42 | 193 | 29 | 40 | 39 | 61 | 50 | −163 | 2,416 | 25 | 34 |
| Interest | 321 | 337 | 334 | 308 | 307 | 313 | 318 | 311 | 318 | 200 | 82 | 83 |
| Depreciation | 99 | 103 | 68 | 94 | 98 | 58 | 40 | 38 | 40 | 42 | 41 | 36 |
| Profit before tax | 167 | 189 | 417 | 227 | 540 | 307 | 481 | 300 | 64 | 2,609 | 160 | 173 |
| Tax % | 29% | 48% | 39% | 30% | 14% | −116% | 6% | 24% | −41% | 19% | 8% | 26% |
| Net Profit | 119 | 99 | 254 | 158 | 462 | 662 | 452 | 227 | 91 | 2,111 | 147 | 127 |
| EPS in Rs | 4 | 3.43 | 8.89 | 5.36 | 16.28 | 23.32 | 15.4 | 7.74 | 2.78 | 75.21 | 5.1 | 4.55 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 10%
- 5 Years
- 9%
- 3 Years
- −2%
- TTM
- −25%
- 10 Years
- 28%
- 5 Years
- 24%
- 3 Years
- 35%
- TTM
- −62%
- 10 Years
- 1%
- 5 Years
- 2%
- 3 Years
- 4%
- TTM
- —
- 10 Years
- 24%
- 5 Years
- 29%
- 3 Years
- 29%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Ashoka Buildcon | ₹ 96.07 | ₹ 2,754 Cr. | 4x | 0.4x | 15% | — |
| DLF | ₹ 653.55 | ₹ 1,61,774 Cr. | 39x | 3.6x | 10% | 32% |
| Lodha Developers | ₹ 963.00 | ₹ 1,01,441 Cr. | 33.7x | 5.1x | 15.8% | 20.6% |
| Indus Towers | ₹ 380.00 | ₹ 1,00,250 Cr. | 14.9x | 2.7x | 19.8% | 22% |
| Oberoi Realty | ₹ 1,587.20 | ₹ 57,846 Cr. | 27.3x | 3.8x | — | 41.6% |
| Godrej Properties | ₹ 1,497.90 | ₹ 45,121 Cr. | 166x | 3.3x | 10.2% | 35.9% |
Management
- Ashok Motilal Katariya
- Executive Chairman of the Board
- Paresh Chatursinha Mehta
- Chief Financial Officer
- Manoj Achyut Kulkarni
- Compliance Officer, Company Secretary
- Satish Dhondulal Parakh
- Managing Director, Executive Director
- Ashish Ashok Kataria
- Whole-Time Director
- Sanjay Prabhakar Londhe
- Whole-Time Director, Chief Executive Officer - Projects
Prices are delayed and for information only. Nothing on this page is investment advice.