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Ashoka Buildcon arm executes concession pact with NHAI for road project

Shares of Ashoka Buildcon were trading at Rs 54.65 apiece on the BSE, up 3.21% over the previous close.

Press Trust of India  |  New Delhi 

infra, roads, highway, NHAI, construction

on Friday announced the execution of a concession agreement with for a Rs 1,035.5 crore road project in Karnataka.

"Ashoka Banwara Bettadahalli Road Pvt Ltd (SPV) has executed a concession agreement with (NHAI) on March 19, 2020, for the project viz. four laning of Tumkur-Shivamogga the state of Karnataka, on hybrid annuity mode under Bharatmala Priyojana (Package - III),"

said in a filing to the

The SPV is a wholly owned subsidiary of the company, the filing said.

"The accepted bid project cost is Rs 1,035.50 crore," the filing said.

Shares of were trading at Rs 54.65 apiece on the BSE, up 3.21 per cent over the previous close.

First Published: Fri, March 20 2020. 13:54 IST