Ashoka Buildcon gets LoA for Rs 830 crore project

Ashoka Buildcon said that it has received a letter of award (LoA) for a projected floated by National Highways Authority of India.

The company had submitted its bid to NHAI in respect of a project viz. 'construction of 6 laning from Belgaum to Sankeshwar Bypass of NH-48 in the State of Karnataka on EPC mode under Bharatmala Pariyojana (Package-I)'.

The project has been accepted at the company's bid price of Rs 829.49 crore.

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 rose 9.12% to Rs 79.94 crore on a 6.35% increase in net sales to Rs 1,264.87 crore in Q2 FY22 over Q2 FY21.

 

The scrip tumbled 5.35% to currently trade at Rs 92.85 on the BSE.

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