Ashoka Buildcon Limited has strengthened its presence in Mumbai’s infrastructure space after securing a major flyover construction project through a joint venture with Aakshaya Infra Projects Private Limited. The Brihanmumbai Municipal Corporation (BMC) has issued a Letter of Acceptance for the project, marking a key milestone for the company.
The project involves the construction of a flyover connecting J.J. Bridge and Sitaram Selam Bridge, also known as the Y Bridge, at the busy junction of J.J. Road and Saboo Siddik Polytechnic Road in Mumbai’s E Ward. Once completed, the flyover is expected to significantly ease traffic congestion and improve connectivity in one of the city’s densely populated and heavily trafficked areas.
The contract, valued at Rs. 1,041.44 crore, has been awarded by BMC and will be executed over a period of 24 months. The project aims to improve traffic movement and reduce bottlenecks in the E Ward area, which sees heavy daily commuter and commercial vehicle traffic.
The work will be executed by M/s Ashoka-Aakshaya JV, a joint venture formed specifically for this project. Ashoka Buildcon is the lead partner in the venture, holding a 51 percent stake, while Aakshaya Infra Projects Private Limited owns the remaining 49 percent. The execution timeline excludes the monsoon period, a standard practice for infrastructure projects in Mumbai due to weather-related disruptions.
The company said the project aligns with its focus on urban transport infrastructure and reinforces its track record in executing complex city-based projects. Flyovers continue to play a crucial role in improving traffic movement in Mumbai, where limited road space and rising vehicle numbers pose daily challenges for commuters.
Ashoka Buildcon disclosed the project award in line with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the norms laid out in SEBI’s master circular issued in November 2024, ensuring transparency and timely information to investors.
As part of regulatory compliance, the company said the trading window for designated persons and their immediate relatives will remain closed for 48 hours following the announcement. The company also clarified that the project does not involve any related party transactions and that neither its promoters nor group companies have any interest in the awarding authority.
Industry observers say such projects add strength to Ashoka Buildcon’s order book and reinforce its standing in urban infrastructure development. For Mumbai, the flyover is expected to bring long-term benefits by improving connectivity, cutting travel time and easing congestion at a key junction in the city’s road network.
