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28-Nov-2025     11:56
Ashoka Buildcon drops amid NHAI suspension following Kerala project
The action follows a show cause notice (SCN) issued on 26 November 2025 regarding the construction of the six-lane elevated corridor in Kerala covering the Aroor to Thuravoor Thekku section of NH-66 (Km 366.330 to Km 379.082). The SCN relates to an incident involving the fall of two precast PSC girders, one of which struck a commercial vehicle, resulting in the driver's death.

The company has denied the allegation that public safety was compromised, asserting that the incident arose from sudden and unforeseeable circumstances unrelated to lapses in its safety practices.

According to the company, the incident was triggered due to failure of hydraulic jack. The failure was sudden and non-predictable, without any prior warning signs, and due to internal seal damages. The girder fell on a moving goods carrier vehicle which entered forcibly in prohibited construction zone.

The company stated that it is in process of ascertaining the financial impact and shall intimate to the exchanges in due course of time. It added that it regularly follows all the rules, regulations and standards as prescribed by all the regulatory authorities and shall continue to follow the same.

Ashoka Buildcon is engaged in the construction & maintenance of roads and supporting services to land support and operation of toll roads. The company reported a 82.92% decline in consolidated net profit to Rs 78.06 crore in Q2 FY26 as against Rs 457.04 crore posted in Q2 FY25.

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