Ashoka Buildcon zooms 12% on receipt of order worth Rs 1,000 crore

For the quarter ended September 2019, the company reported a 17.1 per cent YoY rise in net profit at Rs 73 crore. The EBITDA, too, rose 35.7 per cent YoY to Rs 162 crore.

Shares of Ashoka Buildcon zoomed 11.5 per cent to Rs 104.05 apiece in the early deals on the BSE on Monday after the company's subsidiary bagged a project worth Rs 1,000 crore in the state of Telangana.

According to the infra developer's BSE filing, its arm Ashoka Concessions Limited has received a Letter of Award (LOA) from National Highways Authority of India, the central government's arm for constructing national highways across the country, for the projects under Bharatmala programme, the flagship programme of the government to develop highways worth Rs 6.92 trillion across India. The bagged project includes four laning