Ashoka Buildcon bags Rs 1,000 cr road project

Nashik-based Ashoka Buildcon Ltd (ABL), a mid-sized BOT (build-operate & transfer) operator for infrastructure projects, has bagged a Rs 1,000-crore four-lane project from the National Highways Authority of India (NHAI).

SD Parakh, managing director, ABL, said, "The 162.685-km road stretches from Wainganga (Bhandara district in Maharashtra) to Durg by-pass (in Chhattisgarh). The project, to be executed on BOT basis, will be completed in 30 months."

The four-lane project will consist of 24 minor bridges, 16 under passes, 5 major bridges and 2 six-lane flyovers.

The company is now focusing on bigger projects, which have a better return profile. "We have been focusing on turnkey contracts for construction of residential, commercial complexes, industrial and institutional projects. But now we would like to shift focus to projects that offer better returns. We also want to focus on the power sector, particularly on distribution and transmission," he added.

Meanwhile, the company's ready mix concrete (RMC) plant at Nashik became operational from January 15. Currently, ABL has five plants at Indore, Surat, Mumbai, Pune and Chittorgarh. It expects its RMC plants to touch a turnover of up to Rs 100 crore.

The company has developed 11 BOT road projects, built more than 50 factory buildings for corporates, 25 residential and commercial buildings, 7.5 million sft of commercial complexes and more than 45 km of roads and bridges.

It has also entered the Limca Book of Records for completing a 90-mt Mandve Bridge in a record time of 38 days against the allocated time schedule of 12 months, Parakh said.