Ashoka Buildcon Shares Decline After NHAI Cancels Highway Project
ROADS & HIGHWAYS

Ashoka Buildcon Shares Decline After NHAI Cancels Highway Project

Ashoka Buildcon’s shares fell by 2.51% to Rs 235.30 following the cancellation of a highway project worth Rs 14 billion by the National Highways Authority of India (NHAI). The project, which involved developing a four-lane economic corridor from Kharagpur to Chandrakona Ghatal in West Bengal, was canceled for administrative reasons.

Ashoka Buildcon, the lowest bidder (L1) for the project, is now eligible to re-bid following NHAI’s decision. The company is involved in the construction and maintenance of highways and toll roads, and this cancellation affects its business prospects, though it remains in the running for the re-bidding process.

Despite this setback, Ashoka Buildcon reported a substantial rise in profits, with its consolidated net profit growing by 334.15% to Rs 462.46 crore, driven by a 15.53% increase in revenue for Q2 FY25 compared to Q2 FY24.

Ashoka Buildcon’s shares fell by 2.51% to Rs 235.30 following the cancellation of a highway project worth Rs 14 billion by the National Highways Authority of India (NHAI). The project, which involved developing a four-lane economic corridor from Kharagpur to Chandrakona Ghatal in West Bengal, was canceled for administrative reasons. Ashoka Buildcon, the lowest bidder (L1) for the project, is now eligible to re-bid following NHAI’s decision. The company is involved in the construction and maintenance of highways and toll roads, and this cancellation affects its business prospects, though it remains in the running for the re-bidding process. Despite this setback, Ashoka Buildcon reported a substantial rise in profits, with its consolidated net profit growing by 334.15% to Rs 462.46 crore, driven by a 15.53% increase in revenue for Q2 FY25 compared to Q2 FY24.

Next Story
Products

unWOOD transforms plastic waste into durable wood alternative

unWOOD, a breakthrough innovation, is converting hard-to-recycle plastic waste into a durable alternative to natural wood. Developed through a proprietary process called Intelligent Compounding, unWOOD uses a Macro Molecular Fiber Matrix (MMFM) structure to replicate the strength, look, and feel of hardwood—without the environmental cost.Conceptualised by Dr Babu Padmanabhan, the material addresses key flaws in traditional plastic recycling by consuming minimal energy, using zero water, and generating no microplastics. “Any application that introduces plastics into areas where it cannot be..

Next Story
Real Estate

Häfele launches Matrix undermount runners range

Häfele has introduced its new Matrix range of undermount runners, designed to enhance drawer motion across kitchens, wardrobes, bathroom units, and more.Available in four weight capacities and a wide range of lengths, the Matrix undermount runners support diverse drawer designs. The 40 kg and 60 kg variants feature synchronised technology for superior motion and drawer stability. All runners come with an integrated soft-close mechanism to ensure smooth and noiseless operation.This in-house range is ideal for kitchen cabinets, bed storage units, living room furniture and bathroom drawers, offe..

Next Story
Real Estate

India's first AI-integrated campus announced in Noida

Yashoda Hospital and Bhutani Infra have announced plans to develop India’s first fully AI-integrated mixed-use campus in Greater Noida West. The upcoming project will feature a hospital, retail spaces, offices, SOHOs, serviced apartments, and a hotel—all operating within a self-learning, generative AI-powered ecosystem.The AI-first campus will integrate real-time data systems, predictive analytics, and adaptive infrastructure to offer personalised experiences across functions. From AI-enabled footfall tracking and dynamic energy optimisation to smart F&B and retail insights, the develo..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?