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 project will be executed under the engineering, procurement and construction (EPC) mode, with completion scheduled 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 carries 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 (E&M) systems on the Rishikesh–Karnprayag new broad-gauge rail line project in Uttarakhand. The work, under Package E-4, covers tunnels T-13, T-14, T-15 and T-16 and includes 33/11 kilovolt and 11/0.433 kilovolt gas-insulated switchgear (GIS) substations, high-tension and low-tension cables, diesel generator sets, lighting, uninterruptible power supply (UPS) systems, ventilation, fire-fighting systems and related works. That project is scheduled for completion within 30 months from commencement. Ashoka Buildcon reported a 44.6 per cent year-on-year increase in consolidated net profit to Rs. 2.17 bn in Q1FY26, compared with Rs. 1.5 bn in the corresponding quarter a year earlier. Revenue from operations declined 23.5 per cent to Rs. 18.87 bn from Rs. 24.65 bn amid slower project execution and billing. Earnings before interest, tax, depreciation and amortisation remained unchanged at Rs. 5.99 bn, while the margin increased 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.