Ashoka Buildcon Declares Commercial Operation Date For NHAI Road; Shares Rise 4%

Mumbai, October 12: Ashoka Buildcon Limited has declared October 7, 2026, as the Commercial Operation Date (COD) for a 45.05 km stretch of its National Highways Authority of India (NHAI) highway project in Karnataka, making its wholly owned subsidiary eligible for annuity payments over the 15-year operation period.

According to the exchange filing, the project covers the four-laning of the Tumkur-Shivamogga section from kilometre 170+415 to kilometre 226+750, including the Bettadahalli-Shivamogga section of NH-206, under the Hybrid Annuity Mode (HAM) of the Bharatmala Pariyojana.

The COD declaration follows recommendations from the project’s Independent Engineer. Ashoka Buildcon said its wholly owned subsidiary, Ashoka Bettadahalli Shivamogga Road Private Limited, has also received a Provisional Certificate for completion of 27.02 km of service road and 45.05 km of the main carriageway, within the total project stretch of 50.975 km.

Stock Market Snapshot

The Ashoka Buildcon share price stood at ₹106.10 as of 9:33:19 AM IST on October 12, 2026, according to the market data.

The stock was up ₹4.08, or 4%, at the time. Shares rose above ₹109 during early trading before easing towards ₹106.10 in the latest reported session.

The share price movement came as the company disclosed the COD milestone for the Karnataka highway project.

COD Makes Subsidiary Eligible For 15-Year Annuity Payments

With the COD declared effective October 7, 2026, the project SPV will be eligible to receive annuity payments from NHAI during the 15-year operation period. The filing states that these payments will be made at intervals of six months from the COD date.

The project is being executed under the Hybrid Annuity Mode, under which the concessionaire receives payments in accordance with the applicable project agreement and operating framework. The latest development marks the transition of the completed stretch towards the operational phase.

Conclusion

The COD declaration marks a key milestone for Ashoka Buildcon’s Karnataka highway project, covering 45.05 km of the main carriageway and qualifying its subsidiary for annuity payments over 15 years.

The company disclosed the development under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Ashoka Buildcon shares were up 4% at ₹106.10 as of 9:33:19 AM IST on October 12, 2026.

Source:

• https://www.nseindia.com/get-quote/equity/ASHOKA/Ashoka-Buildcon-Limited
• https://nsearchives.nseindia.com/corporate/ASHOKA_09102026193347_508_ABL_BSE_NSE_PCOD_I_Bettadahalli.pdf