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

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code