Ashoka Buildcon Limited has announced the receipt of a Letter of Acceptance (LOA) from Diriyah Company in the Kingdom of Saudi Arabia for the 'Main Construction Works of Diriyah II – Delivery Partner for One Hotel' project. This significant international contract was secured by a Joint Venture where Ashoka Buildcon holds a 49% stake. The total bid price for the project, excluding VAT, is SAR 717,086,344.22. Ashoka Buildcon's share in this bid amounts to SAR 351,372,308.67, which translates to ₹846.38 Crore. The project is expected to be executed within twenty-seven (27) months from the Effective Date, which is February 05, 2026. The awarding entity, Diriyah Company, is a state-owned Sovereign Wealth Fund. The BEC Arabia JV partner is a privately-held construction and engineering services company known for delivering large-scale infrastructure projects. As a result of this announcement, the trading window for designated persons and their immediate relatives will remain closed until 48 hours after this disclosure.
