Ashoka Buildcon soared 5.13% to Rs 292 after its wholly-owned subsidiary, Ashoka Bowaichandi Guskara Road, has signed concession agreement with the National Highways Authority of India for the development of a 4-lane economic corridor in West Bengal.
The order entails the development of a 4-lane economic corridor from Bowaichandi to Guskara-Katwa road section 89.814 km to 133 km of NH 116A (package-3) in the state of West Bengal under hybrid annuity mode.The project is valued at Rs 1,391 crore, and it is expected to be completed in 910 days, including the monsoon period. A special purpose vehicle (SPV) has been set up for the project's execution as per the concession agreement.
Ashoka Buildcon is engaged in the construction & maintenance of roads and supporting services to land support and 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 2,488.93 crore in Q2 FY25 over Q2 FY24.
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