Ashoka Buildcon announced the declaration of 18 October 2023 as the Commercial Operations Date (CoD) for stretch of 7.55 KMs vide letter issued by Independent Engineer on 21 November 22023, in addition to stretch of 34.730 KMs already received w.e.f. 26 October 2021 (First CoD) vide NHAI letter dated 10 November 2022, for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India (NHAI) for the Project viz. “Construction of Four Laning of Tumkur - Shivamogga section from 12+310 (Design km 12+300) to km 66+540 (Design km 65+195) from Mallasandra to Karadi Village of NH-206 on Hybrid Annuity Mode, under NHDP phase-IV in the state of Karnataka (Package I)” (Project).

The Project is executed by Ashoka Mallasandra Karadi Road (SPV), a Wholly Owned Subsidiary of Ashoka Concessions, a Subsidiary of the Company.

The Company also announces that the said SPV has received a Provisional Certificate for completion of 42.280 KMs in aggregate, out of total Project stretch of 50.645 KMs.

Further to inform that consequent upon the declaration of CoD, the SPV is already eligible for receipt of Annuity payments from NHAI for the operation period of 15 years at the interval of every 6 months from the date of achievement of First CoD.