This includes a Rs 474.1 crore project awarded by the Mumbai Metropolitan Region Development Authority (MMRDA).
The project involves the design and construction of an elevated road from Kalyan Murbad Road (Palms Water Resort) to Badlapur Road (Jagdish Dughdhalaya) and Pune Link Road, running parallel to the Waldhuni River, crossing over the Karjat-Kasara Railway Line, and including a slip road. The project is to be completed within 30 months, including the monsoon period, the company informed in an exchange filing.
Additionally, the infra firm bagged two more letters of award for contracts worth Rs 1,264 crore. These include the design and construction of a creek bridge from Kolshet to Kalher and another from Gaimukh to Payegaon.
In addition, Ashoka Buildcon secured two more contracts worth Rs 1,264 crore. These include the design and construction of a creek bridge from Kolshet to Kalher and another from Gaimukh to Payegaon. The timeline for completion is 36 months and 42 months, respectively, including the monsoon period.
In Q1 FY25, Ashoka Buildcon reported 148% growth in standalone net profit at Rs 40.80 crore when compared with Rs 16.40 crore in the corresponding quarter a year ago. Total income increased by 22% year-on-year (YoY) to Rs 1,900.80 crore from Rs 1,557.20 crore in the same comparable period. EBITDA margin rose by 150 basis points (bps) to 7.6% from 6.1%.On Tuesday, Ashoka Buildcon’s shares closed at Rs 236.7, up 3.7% on the BSE, while the benchmark Sensex fell 0.04%. Its shares have surged 73% in 2024 to date and 202% over the past two years, with the company currently holding a market capitalization of Rs 6,646 crore.Ashoka Buildcon is a Fortune India 500 company and one of the leading highway developers in India. The company is an integrated EPC, BOT and HAM player.
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