Ashoka Buildcon on Thursday announced that it has received a Letter of Award (LOA) from National Highways Authority of India (NHAI) worth Rs 1,079 crore.
The scope of the project involves the development of 6 lane access controlled greenfield highway from Baswantpur (Maharashtra) to Singondi (Madhya Pradesh) of NH 150 C on Hybrid Annuity Mode (HAM) under Bharatmala Pariyojana project.
The accepted bid project cost for the project is Rs 1,079 crore with the construction period spanning for 912 days from the date of appointment. The operational period will be 15 years from the commercial operation date.
On Tuesday, Ashoka Buildcon had intimated the bourses regarding it being selected as the L-1 bidder by NHAI for the said project.
Ashoka Buildcon is engaged in the construction & maintenance of roads and supporting services to land support-operation of toll roads.
The company's consolidated net profit surged to Rs 392.47 crore in the quarter ended December 2021 as against Rs 88.45 crore during the previous quarter ended December 2020. Net sales rose 10.34% Y-o-Y to Rs 1,440.49 crore in Q3 FY22.
Shares of Ashoka Buildcon were trading 0.70% higher to Rs 86.50 on BSE.
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