Ashoka Buildcon wins order worth Rs 312.13 crore from MSETCL

One of the top developers of highways in India is Ashoka Buildcon Limited, a Fortune India 500 company. The business is a combined player in BOT, HAM, and EPC. Our dedication to maintaining Quality, Safety, Consistency, and Environmental Consciousness in all of our assignments has allowed us to grow from our modest beginning in 1976 to our current position. One of our strengths is our capacity to think and act outside of the “ordinary” to push the boundaries of the construction industry.

The project awarded to Ashoka Buildcon Ltd. was valued at Rs. 312.13 crore

For a project involving the construction of a 400/220 kV substation at Nandgaon Peth in Amravati District and associated transmission lines in the Amravati Zone, Maharashtra, Ashoka Buildcon Ltd. recently opened a bid with Maharashtra State Electricity Transmission Co. Ltd. (MSETCL). The company’s bid price of Rs. 312.13 crore, including GST, has earned it the title of Lowest Bidder (L-1) for this project. The project is expected to be finished in 18 calendar months, not including the monsoon season.

Ashoka Buildcon Ltd. owns 35% of ACL

The business revealed last month that it had paid Rs 1,526 crore to acquire a further 34% of Ashoka Concessions Ltd (ACL). Ashoka Buildcon will acquire ACL and turn it into a wholly-owned subsidiary.

Ashoka Buildcon Ltd. Q1 FY25 result

In Q1 FY25, Ashoka Buildcon reported a 148% increase in its standalone net profit, which came to Rs 40.8 crore, up from Rs 16.4 crore in the same quarter the previous year. The total revenue increased by 22% year over year to Rs 1,900.8 crore from Rs 1,557.2 crore during the same period last year. On September 6, 2024, and November 1, 2023, the shares reached a 52-week high of Rs 284.75 and a 52-week low of Rs 127.00, respectively. The share price increased by 92% over the past year.

The stock of Ashoka Buildcon Ltd. dropped 3% today

In the intraday segment, Ashoka Buildcon Ltd.’s stock is currently trading at Rs. 239.08 per share, down nearly 3% from its low price of Rs. 236.85 today.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.