Ashoka Buildcon receive LOA for order worth Rs 1,035.50 crore

Ashoka Buildcon, India’s one of the leading highway developers, informed that they have received a Letter of Award (LOA) from National Highways Authority of India (NHAI) for a four-laning project.

The company stated in a BSE filing on February 15, 2020 post market hours, that the project is regarding four laning of Tumkur-Shivamogga section from 119+790 km (design km 121+900) to km 166+100 (design km 170+415), Banwara to Bettadahalli section of NH-206 in Karnataka on Hybrid Annuity Model (HAM) under Bharatmala Priyojana (Package - III).

The accepted bid cost of the project is Rs 1,035.50 crore while, the construction period is of two years from the appointed date. Besides, the operation date is 15 years from its Commercial Operation Date (COD).

At 9.54 am on Monday, the stock of Ashoka Buildcon Ltd is trading at Rs 101.30, down by 1.22 per cent against its previous close of Rs 102.55. Its 52-week high is Rs 155.00 and its 52-week low is Rs 89.50 on BSE.