Multibagger Small-Cap Civil Construction Company Secures Rs 1,126.58 Crore Order from Brihanmumbai Municipal Corporation!
The company’s shares have delivered an impressive return of around 90 per cent to its shareholders in the past 1 year.
Ashoka Buildcon Ltd, a prominent Small-Cap company specializing in construction and infrastructure facilities on an EPC (Engineering, Procurement, and Construction) and BOT (Build, Operate, Transfer) basis, has announced that it has received a work order from the Brihanmumbai Municipal Corporation (BMC).
LOA from Brihanmumbai Municipal Corporation
Ashoka Buildcon Ltd announced that it has received the Letter of Acceptance (LOA) from Brihanmumbai Municipal Corporation (BMC) for a project involving the construction of Flyover Arm-1 and Arm-2 at the T Junction on Sion Panvel Highway, Maharashtra Nagar in the M/E Ward. The accepted bid price for the project is Rs 1,126.58 crore, inclusive of taxes. The project is scheduled to be completed within 30 months, including the monsoon period.
Recent Past Order
On October 12, the company announced that it received a Letter of Acceptance from the Maharashtra State Road Development Corporation Ltd. The accepted bid price for the project is Rs. 310.00 crore, excluding GST. This project entails constructing a major bridge across Bankot Creek, linking Kolmandla in District Raigad to Veshvi on the Revas Reddi Coastal Highway (SH (Special) No. 5) in Ratnagiri District. It will be executed on an EPC (Engineering, Procurement, and Construction) basis in Maharashtra, with a completion timeline of 36 calendar months, including the monsoon season.
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Share Performance
Today, the shares of Ashoka Buildcon Ltd rallied over 2 per cent and finally closed at around Rs 256.60 per share on the BSE. The company’s current market capitalization stands at Rs 7,203.36 crore. Additionally, the shares have delivered an impressive return of around 90 per cent in the past 1 year.
Financial Performance
As per the Quarterly Results, in the Q1 FY25, Ashoka Buildcon Ltd recorded a revenue of Rs 2465 crore compared to Rs 1935 crore. The operating profit stood at Rs 599 crore. The net profit stood at Rs 158 crore compared to a profit of Rs 72 crore. Looking at the annual performance, the company generated a revenue of Rs 9798 crore in FY24. The operating profit for FY24 was Rs 2233 crore with a net profit of Rs 521 crore compared to a net profit of Rs 294 crore in FY23.
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Disclaimer: The article is for informational purposes only and not investment advice.