Ashoka Buildcon bags railway project in Ahmedabad worth Rs 333.63 crore

Ashoka Buildcon Limited has emerged as the lowest bidder (L-1) for Gujarat Rail Infrastructure Development Corporation Limited (G-RIDE) Project, which has a value of Rs 333.63 crore. 

The company had submitted a bid to Bahucharaji Rail Corporation Limited (BRCL), Gandhinagar, represented by Gujarat Rail Infrastructure Development Corporation Limited for the project that includes gauge conversion of Bechraji (63.83 km)-Ranuj (101.983 km) section with a total length of 38.153 km gauge to broad gauge with 25 KV AC electrification in Ahmedabad division of Western Railway. 

During the December 2020 quarter, the company had won an order from NTPC renewable energy worth Rs 503 crore for an EPC package in Rajasthan. With this, its total order book as of December 31, 2020 stands at Rs 9,152 crore. The order book mix consists of road projects - Rs 6,912 crore, which is 76 per cent of the total order book. 

Among the road projects, HAM projects are around Rs 3,923 crore while EPC projects are approx. Rs 2,988 crore. Power T&D etc comprise around Rs 1,466 crore, which is 16 per cent of the total order book. Meanwhile, railways contributed Rs 692 crore, which is approximately 8 per cent of the order book. 

On Tuesday, the stock of Ashoka Buildcon surged 5.9 per cent to Rs 92.50 from its previous close of Rs 87.30 on BSE. It got closed at Rs 90.50, up by 3.67 per cent.