Ashoka Buildcon informed that it has entered into a joint venture with Indira Projects & Development to form ABL Indira Projects JV LLP, for execution of project at Maldives.
The company has entered into a share purchase agreement (SPA) with Indira Projects & Development and JV for the transfer of its entire 90% stake in the joint venture for Rs 5.44 crore.Ashoka Buildcon is engaged in construction & maintenance of roads and supporting services to land support-operation of toll roads.
The company has reported a standalone net profit of Rs 40.8 crore in Q1 FY25, which is significantly higher as compared with the PAT of Rs 16.4 crore in Q1 FY24. Total income rose by 22% year-over-year (YoY) to Rs 1,900.8 crore during the period under review.
The scrip slipped 1.73% to currently trade at Rs 252.80 on the BSE.
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