Business Update14 Nov 2025, 06:22 pm
Ashoka Buildcon Ltd Loses INR 288.18 Crore Contract with MMRDA
AI Summary
Ashoka Buildcon Ltd has been informed by Mumbai Metropolitan Region Development Authority (MMRDA) that a project worth INR 288.18 Crore plus GST for the Design and Construction of Creek Bridge from Kolshet to Kalher has been cancelled. The cancellation is due to administrative reasons, specifically a revised alignment and scope of work that results in a 39% increase in deck area and a 33.5% overall cost escalation. This constitutes a significant deviation from the approved contractual scope. The financial impacts of this cancellation will be evaluated in due course of time.
Key Highlights
- Ashoka Buildcon Ltd loses a contract worth INR 288.18 Crore plus GST with MMRDA
- The cancellation is due to administrative reasons, specifically a revised alignment and scope of work
- This results in a 39% increase in deck area and a 33.5% overall cost escalation
- The financial impacts of this cancellation will be evaluated in due course of time
- The cancellation is not attributable to the performance, capability or contractual compliance of the Company