Ashoka Buildcon said that it has emerged as the lowest bidder for two projects floated by Mumbai Metropolitan Region Development Authority (MMRDA) worth Rs 1,280.8 crore.
The first project involves design and construction of creek bridge from Kolshet to Kalher. The project has to be completed within a period of 42 months. The quoted bid price for the said contract is Rs 289.60 crore.
The second project involves design and construction of creek bridge from Gaimukh to Payegaon. The project has to be completed within a period of 36 months. The quoted bid price for the said contract is Rs 991.20 crore.
Ashoka Buildcon is engaged in construction & maintenance of roads and supporting services to land support-operation of toll roads.
The company reported consolidated net profit of Rs 249.63 crore in Q4 FY24 as against net loss of Rs 41.89 crore in Q4 FY23. Revenue from operations rose 24.65% YoY to Rs 3,051.87 crore in the quarter ended March 2024.
The scrip declined 3.55% to currently trade at Rs 243.40 on the BSE.
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