Ashoka Buildcon bags NHAI corridor project in Kerala

Ashoka Buildcon has emerged as the lowest bidder (L-1) for a project floated by the National Highway Authority of India, the bid value of which is Rs 16.68 billion. The project is “Request for proposal for construction of six-lane elevated corridor along with development of existing four-lane road at ground level from Aroor to Thuravoor Thekku section of NH-66 (length 12.752 km) under Bharatmala Pariyojana in Kerala on EPC mode”. Ashoka Buildcon is in the business of construction of infrastructure facilities on engineering, procurement and construction (EPC) and build, operate and transfer (BOT) bases, and sale of ready-mix concrete. The company's consolidated net profit declined 20.4% to Rs 636.60 million on a 42.9% increase in net sales to Rs 18.07 billion in Q2 FY23 against Q2 FY22. See also: Work on Varanasi-Ranchi-Kolkata expressway to begin in JanEast Coast Road in TN to be widened in Rs 70 bn project