Mumbai, December 9 (Udaipur Kiran): Shares of Ashoka Buildcon Ltd surged on the BSE on Tuesday after the company bagged an additional scope of work worth Rs 447.21 crore. The stock was trading at Rs 167.50, up by 6.05 points or 3.75 per cent from its previous close of Rs 161.45.

The scrip opened at Rs 165.05 and touched an intraday high of Rs 170.90 and a low of Rs 163.80. A total of 4,58,702 shares were traded on the counter during the session.

The BSE Group ‘A’ stock, with a face value of Rs 5, had touched a 52-week high of Rs 319.00 on December 31, 2024, and a 52-week low of Rs 158.05 on April 7, 2025. Over the last one week, the stock moved between a high of Rs 178.50 and a low of Rs 159.90. The company’s current market capitalisation stands at Rs 4,713.34 crore.

Promoter holding in the company stands at 54.48 per cent, while institutional and non-institutional investors hold 21.51 per cent and 24.01 per cent, respectively.

Ashoka Buildcon has secured an additional scope of work for its existing project, ‘Construction of Flyover Arm-1 and Arm-2 at T Junction on Sion–Panvel Highway, Maharashtra Nagar in M/E Ward’. The company has received a letter from the Brihanmumbai Municipal Corporation (BMC) for the same. The cost of the additional scope of work is Rs 447.21 crore, including taxes.

Earlier, on October 11, 2024, the company had emerged as the lowest bidder (L-1) for the same flyover project and subsequently received the Letter of Acceptance (LoA) from BMC on October 15, 2024. The accepted bid price for the project was Rs 1,126.58 crore, including taxes.

With the current additional scope of work, the total aggregate cost of the project has increased to Rs 1,573.79 crore, including taxes. The revised completion timeline for both the existing and additional work has been extended to January 13, 2028.

Ashoka Buildcon is engaged in building and operating roads and bridges in India on a build, operate and transfer (BOT) basis.