Ashoka Buildcon announced that it has emerged as the lowest bidder (L-1) for two EPC projects from National Highways Authority of India (NHAI) in West Bengal under the Hybrid Annuity Model (HAM) for an aggregate value of Rs 2,791 crore.
The first project involves development of a 4-lane economic corridor from Kharagpur to Chandrakona-Ghatal Road Crossing section of NH 116A (Package-I) in West Bengal. The quoted amount for the construction project is Rs 1,400 crore and the construction period will be 910 days.
The second project involves the development of a 4-lane economic corridor from Bowaichandi to Guskara-Katwa Road section of NH 116A (Package-3) in West Bengal with a quoted construction cost of Rs 1,391 crore. The estimated completion timeline is 910 days.
Ashoka Buildcon is engaged in construction & maintenance of roads and supporting services to land support-operation of toll roads.
The companys consolidated net profit surged 334.15% to Rs 462.46 crore on 15.53% jump in revenue from operations to Rs 2488.93 crore in Q2 FY25 over Q2 FY24.
Shares of Ashoka Buildcon shed 0.54% to Rs 228.45 on the BSE.
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