Ashoka Buildcon Q1 FY27 Results: Income Down 1%, Order Book ₹15,251 Cr
Ashoka Buildcon reported Q1 FY27 unaudited results with total income at ₹1,320.4 crore, down 1% YoY. EBITDA decreased 17% to ₹125.5 crore. The order book stands at ₹15,251 crore. Key updates include the dilution of stake in APTPL, receipt of LOAs for a project in Chhattisgarh (₹112.40 crore) and a highway in Guyana (USD 35.42 million), and settlement with NHAI for ₹1.04 crore.
The financial results show a marginal decline, which is not a significant negative. The new orders and project developments, along with the settlement, are positive but do not represent a transformative change in the company's immediate outlook. The order book remains substantial.
The results show a slight decrease in income and a more significant drop in EBITDA, indicating a neutral financial performance for the quarter. However, the receipt of new orders and settlement of a notice are positive developments.
Ashoka Buildcon Limited announced its unaudited financial results for the quarter ended June 30, 2026. On a standalone basis, the company reported a total income of ₹1,320.4 crore, a 1% decrease year-on-year from ₹1,339.1 crore in Q1 FY26. EBITDA stood at ₹125.5 crore, down 17% from ₹150.7 crore, with the EBITDA margin declining to 9.5% from 11.3%. Profit Before Tax was ₹43.0 crore, a marginal 1% decrease, while Profit After Tax saw a 3% increase to ₹31.5 crore from ₹30.6 crore in the prior year quarter. The standalone debt is ₹1,173 crore, comprising ₹63 crore in equipment loans and ₹1,110 crore in working capital loans. The consolidated debt stands at ₹2,773 crore.
The company's total order book as of June 30, 2026, was ₹15,251 crore (excluding orders received post June 30, 2026, of ₹451 crore). The Road EPC segment constitutes the largest portion at 44.5% (₹6,783 crore), followed by Power T&D at 33.2% (₹5,066 crore), Road HAM at 10.0% (₹1,519 crore), and Railways at 8.8% (₹1,346 crore). Building EPC accounts for 3.5% (₹536 crore).
In significant updates, Ashoka Buildcon's subsidiary, Ashoka Purestudy Technologies Private Limited (APTPL), allotted shares on preferential basis on June 12, 2026. This resulted in a dilution of the company's shareholding from 59% to 39.33%, causing APTPL to cease being a subsidiary and become an Associate Company.
The company, as the Lead Member (51% stake) in a Joint Venture, received a Letter of Acceptance (LOA) from Chhattisgarh State Industrial Development Corporation Limited (CSIDC) for the Development of Gems & Jewellery Park at Raipur, Chhattisgarh. The accepted premium for this project is ₹112.40 crore, with a lease period of 30 years, extendable to 90 years, and a 5-year construction period.
Additionally, Ashoka Buildcon received an LOA for the Construction of a Four Lane Highway from Versailles to Parika in Guyana. The accepted project value is GYD $7,455 million (USD 35.42 million), to be executed within 20 months.
In settlement with NHAI regarding a Show Cause Notice, the company entered into a Settlement Agreement, depositing ₹1.04 crore on July 9, 2026. NHAI agreed to close the proceedings with no further action, including withdrawal of suspension and confirmation of no debarment.
A new Special Purpose Vehicle (SPV), Ashoka - RDB Infrastructure & Development Private Limited, was incorporated on July 15, 2026, jointly with RDB Real Estate Constructions Limited, with Ashoka Buildcon holding a 51% stake for the development of a Gems & Jewellery Park in Raipur.
Furthermore, the company and Ashoka Concessions Limited (ACL), along with the Proposed Investor, have mutually agreed to extend the timelines for the sale of the remaining six SPVs of ACL. The indicative completion date has been extended to September 15, 2026, for TS-1, TS-2, and TS-3, and to September 30, 2026, for the BS SPV, subject to fulfilling conditions precedent and regulatory/lender approvals.
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