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 company disclosed the award in a regulatory filing dated October 9.

The project covers the Gorakhpur Cantt–Chhapra Gramin section of the Varanasi division. Its scope includes the design, supply, erection, testing and commissioning of traction substations and associated switching posts for a 2x25 kV alternating current traction feeding system. The work will be executed under the engineering, procurement and construction (EPC) model.

Ashoka Buildcon has 24 months from the commencement date to complete the project. The contract requires a performance bank guarantee equal to 5 per cent of the contract price and includes a defect liability period of two years.

The company also previously received a letter of acceptance for electro-mechanical systems work on the Rishikesh–Karnprayag new broad-gauge rail line in Uttarakhand. The project, part of 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 systems. It is scheduled for completion within 30 months of commencement.

Ashoka Buildcon reported a 44.6 per cent year-on-year rise in consolidated net profit to Rs. 2.17 bn in Q1 FY26, from Rs. 1.5 bn in the corresponding quarter. Revenue from operations declined 23.5 per cent to Rs. 18.87 bn from Rs. 24.65 bn amid slower project execution and billing. EBITDA was unchanged at Rs. 5.99 bn, while the margin increased to 31.7 per cent from 24.3 per cent, supported by a different project mix and cost efficiencies. Shares were trading at Rs. 102.19 on October 9, up 0.78 per cent.