MESSAGE BY THE CHAIRMAN
FY18 marks the completion of 25 glorious years in the journey of AshokaBuildcon Limited. This success is a result of determined efforts made by team Ashoka andtrust reposed by our shareholders.
The Company is now poised to move into a different orbit with a largeorder book of more than 4x FY18 and a huge opportunity in the road sector.
The Central Government continues to promote highway development withits Bharatmala Program and the States including Uttar Pradesh and Maharashtra are alsoadding to the opportunities. In the last fiscal Road Ministry achieved execution ofrecord all-time high pace of 27 km/day with an award of projects equivalent to 47 km/day.NHAI has taken bold steps in settling land acquisition payments of more than Rs.35000 Cr.
The Company continued to garner good order book including HybridAnnuity Model ("HAM") Project wins of Rs.78 Bn which was larger than last yearand accordingly the Balance Order Book stands (including new HAM Projects) at a robustamount of Rs.120 Bn. The Company also achieved milestone of early completion in theEastern Peripheral Expressway ("EPE") Project. As indicated in the last AnnualReport to the Shareholders the Company achieved COD for its Mud hoi Nipani Road Projectand PCOD for its Chennai Outer Ring Road project. Even the Overseas Project at Maldivesachieved COD in May 2018.
Toll revenues continue to be stronger than previous year with aneffective revenue growth of around 15% for its major projects. The Company also continuesto pursue City Gas Distribution projects.
With an increased order book and new opportunities coming up theCompany is geared to make investments in its machinery and manpower to deliver the bestresults and in turn returns to our investors. With the said confidence the Board has alsoproposed Equity bonus of 1:2.
I thank the Board Members the Stakeholders including the ShareholdersPrivate Equity Partners Lenders including EXIM Bank Employers Vendors and Employees forall the support and participation in helping us pursue our growth path.
With best wishes