Ashoka Buildcon secures EPC contracts worth Rs 1,738 crore

One of India’s top highway developers, Ashoka Buildcon Limited, is a Fortune India 500 company. The business is a combined BOT, HAM, and EPC player. Since our modest beginnings in 1976, we have worked hard to maintain quality, safety, consistency, and environmental consciousness in all of our assignments, which has allowed us to grow to our current position. Our capacity to think and act outside of the “ordinary” in order to push the boundaries of what is considered acceptable in the construction industry is a testament to our strength. Our unparalleled record of remarkable accomplishments has enabled us to construct state-of-the-art infrastructure both domestically in India and abroad. Our strong base and talented team of technical and support staff enable us to manage projects of any size.

Ashoka Buildcon awarded with Rs. 1738 crore project: 

On October 3, Ashoka Buildcon’s shares increased by more than 3% following the infrastructure company’s receipt of a letter of award from the Mumbai Metropolitan Region Development Authority (MMRDA) for a project valued at Rs 474.10 crore. The project entails designing and building an elevated road, complete with a slip road, that runs parallel to the Waldhuni River Crossing over the Karjat-Kasara Railway Line from Kalyan Murbad Road (Palms Water Resort) to Badlapur Road (Jagdish Dughdhalaya) to Pune Link Road. Ashoka Buildcon stated in an exchange filing that the order must be finished in 30 months, including the monsoon season.

The infrastructure company also received two more letters of award for contracts totaling Rs 1,264 crore. Among them are the planning and building of two creek bridges: one from Gaimukh to Payegaon and the other from Kolshet to Kalher. These projects, which include the monsoon season, must be finished in 36 and 42 months, respectively.

An almost 4% rise in the shares of Ashoka Buildcon Ltd:

The stock of Ashoka Buildcon Ltd. is currently trading at Rs. 245.28 per share, up nearly 4% from the high traded price of Rs. 246.95 earlier today on Intraday.

Outperformance of Ashoka Buildcon stock:

In comparison, the Nifty has returned 18%, whereas the stock has increased 73% so far this year. The counter has increased by 95% in the last 12 months, almost doubling the money invested. Nifty increased by 32% during this time, in contrast.

Conclusion: Ashoka Buildcon has been awarded three projects totaling Rs. 1738 crore, which will increase sales for the business.

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.