Ashoka Buildcon bags order worth Rs. 1,080 crores

Ashoka Buildcon Limited has received Letter of Award (LOA) from Uttar Pradesh Expressways Industrial Development Authority (UPEID) in respect of the project named, Development of Bundelkhand Expressway Project (Package-III): From Kaohari (Dist. Mahoba) to BaroliKharka (Dist. Hamirpur) (Km 100+000 to Km 149+000) in the State of Uttar Pradesh on EPC Basis.

The accepted bid value of the Project is Rs. 1,079.52 crores.

Last week, the company’s subsidiary had received LOA from National Highways Authority of India (NHAI) for the project worth Rs. 1,000 crores, which includes Four laning of NH-161 from Kandi (Km 498.250 of NH-65) to Ramsanpalle (Design Km 39.980/Existing Km 44.757) (Design Length = 39.980 Km) in the State of Telangana under Bharatmala Pariyojna on Hybrid Annuity Mode.

The company’s total order book stands at Rs. 7,486 crores as on September 30, 2019. This order book gives revenue visibility for next 1.5-2 years.

Ashoka Buildcon is infrastructure development company engaged in construction and maintenance of roads, and supporting services to land support-operation of toll roads and others.

On Thursday, the stock of Ashoka Buildcon closed at Rs. 94.90. On Friday, it opened gap up 2.7 per cent at Rs. 97.50 and in early morning session surged to Rs. 98.75.