The project involves the development of a 38,922 sq. metre land parcel and aims to create a dedicated infrastructure ecosystem for the gems and jewellery sector in the state.

As per the agreement, Ashoka Buildcon will pay a premium of Rs 112.40 crore along with an annual lease rent equivalent to 2% of the premium amount, subject to a 10% escalation every fourth year.

The project has been awarded on a lease basis for an initial period of 30 years, extendable up to 90 years. The company is required to complete construction within five years.

Ashoka Buildcon said the project will strengthen its presence in urban infrastructure and real estate development through the PPP route and further diversify its project portfolio.

The company added that neither its promoters nor promoter group entities have any interest in CSIDC, nor the transaction does not qualify as a related-party transaction.

Ashoka Buildcon is engaged in the construction & maintenance of roads and supporting services to land support and operation of toll roads.

On a consolidated basis, net profit plunged 67.5% YoY to Rs 146.80 crore in Q4 FY26, while revenue from operations fell 27.5% to Rs 1,954.30 crore. Profit before tax dropped 66.9% to Rs 159.52 crore.