Ashoka Buildcon Bags Contract Worth Rs 520 Crore From NHAI

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Ashoka Buildcon Ltd has been granted a Letter of Award valued at Rs 520 crore by the National Highways Authority of India for a project located in Bihar. As per an exchange filing on Wednesday, the company secured the contract for the six-laning of a stretch of NH-2 stretching from Aurangabad to the Bihar-Jharkhand border.

Ashoka Buildcon Limited is one of the prominent infrastructure development companies based in India. Established in 1993, Ashoka Buildcon has emerged as a leading player in the construction and engineering sector, specializing in roads, highways, bridges, and power transmission projects. It has executed a diverse portfolio of projects across various states in India. The company’s expertise spans the entire project lifecycle, from conceptualization and design to execution and maintenance.

Ashoka Buildcon is known for its commitment to innovation and technology integration, enabling it to deliver projects that meet the highest standards of excellence and efficiency. Through strategic partnerships and collaborations, the company continues to expand its presence and diversify its offerings in both domestic and international markets.

Under the auspices of the Bharatmala initiative, a major infrastructure project is slated to unfold, adopting an engineering, procurement, and construction (EPC) framework, as announced by authoritative sources. The latest financial report from Ashoka Buildcon for the third quarter of fiscal year 2024 has depicted a surge.

According to the consolidated figures for the said quarter, the revenue surged to Rs 2,657.12 crore from Rs 1,955.82 crore, marking a substantial increase of 35.85%. Similarly, the earnings before interest, taxes, depreciation, and amortization (EBITDA) witnessed an uptick, reaching Rs 596.98 crore compared to Rs 489.6 crore in the corresponding period last year, indicating a growth of 21.93%.

Despite these encouraging developments, the margin experienced a slight contraction, standing at 22.46% versus the previous 25.03%, marking a contraction of 256 basis points (bps). On the bottom line, the net profit for the period dwindled to Rs 109.81 crore from Rs 138.37 crore, reflecting a decrease of 20.64%. Such financial insights into Ashoka Buildcon’s performance amidst the prevailing economic landscape offer valuable perspectives for stakeholders and industry observers alike.

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