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 kV alternating current traction feeding system. The project will be executed under the engineering, procurement and construction mode, with completion required within 24 months from the commencement date.

The contract requires Ashoka Buildcon to provide a performance bank guarantee equivalent to 5 per cent of the contract price. It also includes a defect liability period of two years. The company separately received a letter of acceptance on August 31 for electro-mechanical systems for tunnels T-13, T-14, T-15 and T-16 on the Rishikesh–Karnprayag new broad-gauge rail line in Uttarakhand.

That project, designated Package E-4, 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 from commencement.

Ashoka Buildcon reported a 44.6 per cent year-on-year rise in consolidated net profit to Rs. 2.17 bn in Q1FY26, compared with Rs. 1.5 bn a year earlier. Revenue from operations declined 23.5 per cent to Rs. 18.87 bn from Rs. 24.65 bn, while EBITDA was unchanged at Rs. 5.99 bn. The EBITDA margin expanded 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.