Ashoka Buildcon gains on bagging BMC road project of Rs 1,127 cr

Ashoka Buildcon rallied 3.82% to Rs 261 after the civil construction company received letter of acceptance (LoA) for projects totalling to Rs 1,126.58 crore from the Brihanmumbai Municipal Corporation (BMC).

The project includes construction of flyover arm1, arm-2 at T Junction on Sion Panvel Highway, Maharashtra Nagar in M/E ward.

The accepted bid price for the project is Rs 1,126.58 crore and it will be executed within 30 months.

Ashoka Buildcon is engaged in construction & maintenance of roads and supporting services to land support-operation of toll roads.

The company has reported a standalone net profit of Rs 40.8 crore in Q1 FY25, which is significantly higher as compared with Rs 16.4 crore in Q1 FY24. Total income jumped 22% YoY to Rs 1,900.8 crore during the period under review.

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