Ashoka Buildcon Secures Rs 3.11 Bn Power Project in Maharashtra
POWER & RENEWABLE ENERGY

Ashoka Buildcon Secures Rs 3.11 Bn Power Project in Maharashtra

Ashoka Buildcon has been awarded a turnkey project worth Rs 3.11 billion (including GST) by Maharashtra State Electricity Transmission (MSETCL). The project involves the development of a 400/220 KV sub-station at Nandgaon Peth in Amravati district, along with associated transmission lines under the Amravati zone.

The scope of work includes the supply, erection, testing, commissioning, and civil works necessary for establishing a reliable power transmission infrastructure. The construction timeline is set for 18 calendar months from the date of the contract award, excluding the monsoon period to ensure seamless execution.

Despite a decline in revenue, Ashoka Buildcon reported a 62.4 per cent year-on-year (YoY) increase in profit before tax, reaching Rs 3.06 billion in Q3 FY24. The growth in profitability was driven by operational efficiencies and improved project margins. During the quarter, revenue stood at Rs 23.87 billion, reflecting a 10.1 per cent decrease compared to Rs 26.57 billion in the corresponding period of the previous year.

However, effective cost management contributed to a 7 per cent Y-o-Y growth in EBITDA, which rose to Rs 6.38 billion from Rs 5.97 billion. The EBITDA margin also saw a notable expansion, improving from 22.5 per cent in Q3 FY23 to 26.8 per cent in Q3 FY24. This performance highlights the company’s strong execution capabilities and financial resilience despite revenue fluctuations.

With the new project from MSETCL, Ashoka Buildcon continues to strengthen its presence in the power transmission sector, reinforcing its position as a key infrastructure player in India.

News source: IIFL Capital

Ashoka Buildcon has been awarded a turnkey project worth Rs 3.11 billion (including GST) by Maharashtra State Electricity Transmission (MSETCL). The project involves the development of a 400/220 KV sub-station at Nandgaon Peth in Amravati district, along with associated transmission lines under the Amravati zone. The scope of work includes the supply, erection, testing, commissioning, and civil works necessary for establishing a reliable power transmission infrastructure. The construction timeline is set for 18 calendar months from the date of the contract award, excluding the monsoon period to ensure seamless execution. Despite a decline in revenue, Ashoka Buildcon reported a 62.4 per cent year-on-year (YoY) increase in profit before tax, reaching Rs 3.06 billion in Q3 FY24. The growth in profitability was driven by operational efficiencies and improved project margins. During the quarter, revenue stood at Rs 23.87 billion, reflecting a 10.1 per cent decrease compared to Rs 26.57 billion in the corresponding period of the previous year. However, effective cost management contributed to a 7 per cent Y-o-Y growth in EBITDA, which rose to Rs 6.38 billion from Rs 5.97 billion. The EBITDA margin also saw a notable expansion, improving from 22.5 per cent in Q3 FY23 to 26.8 per cent in Q3 FY24. This performance highlights the company’s strong execution capabilities and financial resilience despite revenue fluctuations. With the new project from MSETCL, Ashoka Buildcon continues to strengthen its presence in the power transmission sector, reinforcing its position as a key infrastructure player in India. News source: IIFL Capital

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?