Ashoka Buildcon advanced 3.76% to Rs 85.55 after the company announced that it received a letter of acceptance (LOA) from the South Western Railway (SWR) for a construction project worth Rs 258.12 crore.
The company had submitted its bid to the SWR and the company has received a letter of acceptance from SWR for the project viz. 'construction of new BG line between Chainage 192.000 and Chainage 171.640 including electrical & telecommunication works between Tolahunse (Ex.) & Bharmasagar (Ex.) stations on engineering, procurement & construction (EPC) Mode' (Project).
The accepted bid project cost for the project is Rs 258.12 crore. The completion period is 24 months from the date of appointed date.
Ashoka Buildcon is engaged in the construction & maintenance of roads and supporting services to land support-operation of toll roads.
On a consolidated basis, net profit of Ashoka Buildcon rose 67.73% to Rs 134.55 crore on 46.40% rise in net sales to Rs 1878.56 crore in Q1 June 2022 over Q1 June 2021.
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