Ashoka Buildcon Secures ₹602.16 Crore E&M Order from RVNL for Rishikesh–Karnprayag Rail Project
Ashoka Buildcon Limited has received a Letter of Acceptance (LOA) from Rail Vikas Nigam Limited (RVNL) for a major electro-mechanical works contract valued at ₹602.16 crore, including GST.
The order relates to the Rishikesh–Karnprayag New Broad Gauge Rail Line Project in Uttarakhand, strengthening Ashoka Buildcon’s presence in India’s railway infrastructure and tunnel-related projects.
₹602.16 Crore Order from RVNL
According to the company’s exchange filing dated August 29, 2026, Ashoka Buildcon had submitted a bid for Package-3 under Package E-4 of the Rishikesh–Karnprayag New BG Rail Line Project.
The company has now received the LOA from RVNL dated August 28, 2026.
The total contract value is:
Order Value: ₹602.16 crore (including GST)
The project is to be executed over a 30-month period from the date of commencement.
What Does the Project Involve?
The contract covers the Supply, Erection, Testing and Commissioning of Electro-Mechanical (E&M) Systems for tunnels T-13, T-14, T-15 and T-16.
The major components include:
- 33/11 kV and 11/0.433 kV GIS substations
- HT and LT cables
- DG sets
- Lighting systems
- UPS systems
- Ventilation systems
- Fire-fighting systems
- Other associated electro-mechanical works
These systems are critical for the safe and efficient operation of railway tunnels, particularly in a challenging mountainous infrastructure environment such as Uttarakhand.
Key Contract Details
The contract has been awarded by Rail Vikas Nigam Limited, a domestic entity, through a percentage-rate bidding process.
Ashoka Buildcon will be required to submit a performance bank guarantee of ₹25.51 crore to RVNL.
The contract also carries a two-year defect liability period.
Project at a Glance
- Client: Rail Vikas Nigam Limited (RVNL)
- Project: Rishikesh–Karnprayag New BG Rail Line
- Location: Uttarakhand
- Package: Package-3 under Package E-4
- Tunnel Sections: T-13, T-14, T-15 and T-16
- Order Value: ₹602.16 crore including GST
- Execution Period: 30 months
- Contract Type: Percentage-rate bidding
- Performance Bank Guarantee: ₹25.51 crore
- Defect Liability Period: 2 years
Why This Order Matters for Ashoka Buildcon
The ₹602.16 crore contract provides another sizeable order win for Ashoka Buildcon in the railway infrastructure segment.
The project combines railway infrastructure, tunnel systems and electro-mechanical engineering, giving the company an opportunity to expand its role beyond conventional civil infrastructure execution.
The Rishikesh–Karnprayag railway project is strategically important because it involves the development of a new rail connection through the challenging Himalayan terrain of Uttarakhand. Tunnel-related E&M systems are an important component of such projects because they support ventilation, power distribution, lighting, fire safety and other operational requirements.
Potential Impact on Order Book
For infrastructure companies, fresh order wins are closely watched because they provide visibility for future revenue execution.
The ₹602.16 crore order adds to Ashoka Buildcon’s project pipeline and provides revenue visibility over the next 30 months, subject to commencement and execution of the contract.
Investors should monitor how quickly the project moves into execution and the pace at which the order contributes to revenue and operating performance.
Investor Takeaway
Ashoka Buildcon’s latest RVNL order is a significant contract win in the railway infrastructure space.
With an order value of ₹602.16 crore including GST, a 30-month execution period, and a scope covering multiple tunnel E&M systems, the project adds meaningful work visibility for the company.
The order also highlights the growing opportunities available in India’s railway and tunnel infrastructure development, particularly for companies capable of executing specialized electro-mechanical works.
Investors should track order inflows, order book growth, project execution, margins, working capital requirements and future railway infrastructure wins to assess the broader financial impact of this contract.
Source: Company exchange filing dated August 29, 2026.