Ashoka Buildcon gains on emerging as L-1 bidder for Rs 1,669 crore NHAI project

Ashoka Buildcon rose 2.47% to Rs 78.70 after the company emerged as the lowest bidder (L-1) for a Project floated by NHAI, the bid value of which is Rs 1,668.50 crore.

The company had submitted a bid to National Highway Authority of India (NHAI) for a project viz. 'Request for proposal for construction of 6 lane elevated corridor along with development of existing 4 lane road at ground level from Aroor to Thuravoor Thekku section of NH - 66 (Length 12.752 Km) under Bharatmala Pariyojana in the State of Kerala on EPC mode'.

Ashoka Buildcon is presently engaged in the business of construction of infrastructure facilities on engineering, procurement and construction basis (EPC) and built, operate and transfer (BOT) basis and sale of ready mix concrete.

The company's consolidated net profit declined 20.4% to Rs 63.66 crore on 42.9% increase in net sales to Rs 1,807 crore in Q2 FY23 over Q2 FY22.

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