Ashoka Buildcon Limited announced the receipt of a Provisional Certificate for its Hybrid Annuity Mode (HAM) Project with NHAI in Karnataka. The Commercial Operation Date (CoD) was declared for an additional 2.68 KMs on February 28, 2026, adding to previously recognized stretches. The Subsidiary’s Project, covering the Tumkur Shivamogga Section, has now achieved completion for an aggregate of 52.885 KMs out of 53.315 KMs. This achievement makes the SPV eligible for annuity payments starting from September 08, 2023.
Key Milestone Achieved for Karnataka Highway Project
Ashoka Buildcon Limited has confirmed a significant operational milestone for its ongoing Hybrid Annuity Mode (HAM) Project with the National Highways Authority of India (NHAI) in the state of Karnataka. This project involves the “Four Laning of Tumkur Shivamogga Section” of NH-206.
Commercial Operation Date Declarations
The Company reports that the Commercial Operation Date (CoD) was formally declared for an additional stretch of 2.68 KMs, effective February 28, 2026, following an Independent Engineer’s letter dated March 09, 2026.
This new stretch is added to the following previously recognized sections:
- First CoD: 41.61 KMs, effective from September 08, 2023.
- Second CoD: 8.595 KM, effective from March 03, 2025.
Aggregate Completion Status
The project is executed by Ashoka Karadi Banwara Road Private Limited (SPV), a Wholly Owned Subsidiary.
The SPV has now received a Provisional Certificate for the completion of 52.885 KMs in aggregate. This represents the near-total completion against the total Project stretch of 53.315 KMs (Revised after de-scoping).
Eligibility for Annuity Payments
Crucially, consequent upon the declaration of the First CoD, the SPV is now eligible to receive Annuity payments from NHAI for the 15-year operation period. These payments will be disbursed at intervals of every 6 months, commencing from the date of achievement of the First CoD, which was September 08, 2023.
Source: BSE
