Ashoka Buildcon has received a letter of acceptance from North Eastern Railway for a Rs. 2.9 bn contract to upgrade electric traction power supply installations in Uttar Pradesh. The project covers the Gorakhpur Cantt–Chhapra Gramin section of the Varanasi division and was disclosed in a regulatory filing dated October 9.

The scope includes the design, supply, erection, testing and commissioning of traction substations and associated switching posts for a 2x25 kilovolt alternating current (AC) traction feeding system. The work will be executed under the engineering, procurement and construction (EPC) model, with completion required within 24 months of the commencement date.

The contract also requires Ashoka Buildcon to provide a performance bank guarantee equivalent to 5 per cent of the contract price. It includes a defect liability period of two years, according to the filing.

Separately, the company had announced on August 31 that it received a letter of acceptance for electro-mechanical systems on the Rishikesh–Karnprayag new broad-gauge rail line in Uttarakhand. The work, under Package E-4, covers tunnels T-13, T-14, T-15 and T-16 and includes 33/11 kV and 11/0.433 kV gas-insulated switchgear substations, high-tension and low-tension cables, diesel generator sets, lighting, uninterruptible power supply systems, ventilation and fire-fighting equipment. The Uttarakhand project is scheduled for completion within 30 months.

Ashoka Buildcon reported a 44.6 per cent year-on-year increase in consolidated net profit to Rs. 2.17 bn in Q1FY26, from Rs. 1.5 bn a year earlier. Revenue from operations fell 23.5 per cent to Rs. 18.87 bn, while earnings before interest, tax, depreciation and amortisation remained at Rs. 5.99 bn. The EBITDA margin improved to 31.7 per cent from 24.3 per cent, supported by a change in project mix and cost efficiencies. The company’s shares closed at Rs. 102.19 on October 9, up 0.78 per cent.