Ashoka Buildcon Share Price Up By 4.62%; Secures ₹1,391 Crore NHAI Project in West Bengal

Ashoka Buildcon Limited has announced that it has secured a significant project from the National Highways Authority of India (NHAI). The company, which had earlier submitted a bid for the project, has now received the Letter of Award (LOA) for the development of a crucial four-lane economic corridor in West Bengal.

Project Details and Execution Timeline

The project involves the construction of the Bowaichandi to Guskara-Katwa Road section, spanning Km 89.814 to Km 133.000 of NH 116A. This initiative, under the Hybrid Annuity Model (HAM), aims to enhance connectivity and facilitate economic growth in the region.

The accepted bid project cost for this development is ₹1,391 crore, excluding GST. Ashoka Buildcon has committed to completing the project within 910 days, including the monsoon period, showcasing the company’s capability to undertake large-scale infrastructure initiatives.

This project highlights Ashoka Buildcon’s continued leadership in the infrastructure development sector and its dedication to supporting India’s mission to improve road connectivity and transportation efficiency. The award strengthens the company’s order book and reaffirms its strategic focus on national infrastructure development projects under the Hybrid Annuity Mode. It also underscores NHAI’s commitment to modernising and expanding India’s highway network.

On November 26, 2024, Ashoka Buildcon share price opened at ₹242.00, up from its previous close of ₹233.06. At 9:37 AM, the share price of Ashoka Buildcon was trading at ₹243.82, up by 4.62%.

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