Ashoka Buildcon JV Secures ₹1,041 Crore Flyover Project from BMC in Mumbai

• ₹1,041.44 crore EPC flyover project awarded by BMC

• Ashoka Buildcon leads JV with a 51% stake

• Project to be completed in 24 months, excluding monsoons

Mumbai: Ashoka Buildcon Limited has strengthened its presence in urban infrastructure with the award of a major flyover project in Mumbai, secured through its joint venture with Aakshaya Infra Projects Private Limited. The Brihanmumbai Municipal Corporation (BMC) has issued a Letter of Acceptance for the project, which carries a total value of ₹1,041.44 crore, including GST.

The project involves constructing a flyover at the busy junction of J.J. Road and Saboo Siddik Polytechnic Road in Mumbai’s E Ward. Often referred to as the Y Bridge, the flyover will connect the J.J. Bridge with the Sitaram Selam Bridge, a move expected to significantly improve traffic flow and connectivity in the area.

The construction will be carried out under the Engineering, Procurement and Construction (EPC) model and is scheduled for completion within 24 months, excluding monsoon periods. This timeline reflects standard planning for infrastructure projects in Mumbai, where seasonal rains typically impact construction schedules.

The contract will be executed by M/s Ashoka–Aakshaya Joint Venture, with Ashoka Buildcon acting as the lead partner holding a 51% stake. Aakshaya Infra Projects Private Limited holds the remaining 49% share. The joint venture has been formed as a domestic entity specifically for undertaking this project.

In a regulatory filing, Ashoka Buildcon confirmed that the disclosure has been made in line with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with the applicable SEBI master circular issued in November 2024. The company also stated that the project does not involve any related party transactions, and neither promoters nor group companies have any interest in the awarding authority.

Following the announcement, the trading window for designated persons and their immediate relatives will remain closed for 48 hours, as per standard compliance practices.

Industry observers view this order as a positive development for Ashoka Buildcon, reinforcing its credentials in executing large-scale urban transport infrastructure projects. Once completed, the flyover is expected to play a key role in easing congestion and supporting smoother traffic movement in one of Mumbai’s densely populated zones.