Ashoka Buildcon’s Arm Wins Rs 13.91-Bn NHAI Project in WB

08 Jan 2025 CW Team

The company disclosed in an exchange filing that its subsidiary, Ashoka Bowaichandi Guskara Road, signed the agreement with NHAI on January 6, 2025. This project involves the development of a 4-lane economic corridor spanning from the Bowaichandi to Guskara-Katwa Road Section, covering Km 89.814 to Km 133.000 of NH 116A (Package-3). The development will be executed under the hybrid annuity mode.

The project, valued at Rs 13.91 billion, includes constructing the specified road section on NH 116A and is expected to be completed within 910 days, including the monsoon period. A special purpose vehicle (SPV) was established specifically to manage the execution of this project, in alignment with the concession agreement requirements.

In its Q2 FY25 financial results, Ashoka Buildcon reported a significant year-on-year (YoY) increase of 334.27 per cent in net profit, amounting to Rs 4.62 billion, compared to Rs 1.06 billion during the same period in the previous fiscal year. Revenue from operations also rose by 15.5 per cent, reaching Rs 24.89 billion, up from Rs 21.54 billion in the corresponding quarter of the prior fiscal year. Meanwhile, EBITDA experienced a robust growth of 65.8 per cent, rising to Rs 9.05 billion from Rs 5.46 billion in the same quarter last year. The EBITDA margin improved to 36.4 per cent in Q2 FY25, compared to 25.3 per cent in Q2 FY24.

According to analysts tracked by Trendlyne, five out of nine recommend a "strong buy" for Ashoka Buildcon shares, with three advising to "hold" and one suggesting a "sell." The average 12-month target price is Rs 279, indicating a potential upside of 1 per cent from current levels.

Ashoka Buildcon shares are expected to be in the spotlight on January 7, following the announcement that its wholly-owned subsidiary, Ashoka Bowaichandi Guskara Road, has entered into a concession agreement with the National Highways Authority of India (NHAI). The agreement pertains to the development of a four-lane economic corridor in West Bengal. The company disclosed in an exchange filing that its subsidiary, Ashoka Bowaichandi Guskara Road, signed the agreement with NHAI on January 6, 2025. This project involves the development of a 4-lane economic corridor spanning from the Bowaichandi to Guskara-Katwa Road Section, covering Km 89.814 to Km 133.000 of NH 116A (Package-3). The development will be executed under the hybrid annuity mode. The project, valued at Rs 13.91 billion, includes constructing the specified road section on NH 116A and is expected to be completed within 910 days, including the monsoon period. A special purpose vehicle (SPV) was established specifically to manage the execution of this project, in alignment with the concession agreement requirements. In its Q2 FY25 financial results, Ashoka Buildcon reported a significant year-on-year (YoY) increase of 334.27 per cent in net profit, amounting to Rs 4.62 billion, compared to Rs 1.06 billion during the same period in the previous fiscal year. Revenue from operations also rose by 15.5 per cent, reaching Rs 24.89 billion, up from Rs 21.54 billion in the corresponding quarter of the prior fiscal year. Meanwhile, EBITDA experienced a robust growth of 65.8 per cent, rising to Rs 9.05 billion from Rs 5.46 billion in the same quarter last year. The EBITDA margin improved to 36.4 per cent in Q2 FY25, compared to 25.3 per cent in Q2 FY24. According to analysts tracked by Trendlyne, five out of nine recommend a strong buy for Ashoka Buildcon shares, with three advising to hold and one suggesting a sell. The average 12-month target price is Rs 279, indicating a potential upside of 1 per cent from current levels.

Infrastructure Urban

07 Nov 2025

Piyush Goyal Boosts India–New Zealand Trade Ties

Union Minister of Commerce and Industry, Shri Piyush Goyal, is on an official visit to New Zealand to strengthen bilateral economic and trade relations between the two nations. The fourth round of India–New Zealand Free Trade Agreement (FTA) negotiations is currently underway in Auckland from 3 to 7 November 2025. At the India–New Zealand Business Forum, organised by the Auckland Business Chamber, Shri Goyal joined Hon. Todd McClay, Minister for Trade of New Zealand, for a Fireside Chat moderated by Mr Simon Bridges, CEO of the Auckland Business Chamber. Opening the session, Shri Goyal r..

Infrastructure Urban

07 Nov 2025

India, Romania Strengthen Trade and Industry Cooperation

Minister of State for Commerce and Industry, Shri Jitin Prasada, led the Indian business delegation at the India–Romania Business Forum, organised by the Chamber of Commerce and Industry of Bra?ov (CCIBv) in partnership with the Embassy of India in Bucharest and the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India. The engagement focused on expanding bilateral investment and industrial cooperation between the two countries, bringing together business leaders from key sectors such as automotive, aerospace, defence, renewable energy, engineering services, a..

Infrastructure Urban

07 Nov 2025

Maritime Security Seminar Strengthens Indian Ocean Cooperation

The Maritime Security Seminar, held as part of the Maritime Information Sharing Workshop (MISW) 25, concluded on 4 November 2025. The three-day workshop, themed “Enhancing Real-Time Coordination and Information Sharing Across the Indian Ocean Region,” is being hosted by the Information Fusion Centre – Indian Ocean Region (IFC–IOR) and has brought together over 57 participants from 30 countries, including representatives from the Indian Ocean Rim Association (IORA), Djibouti Code of Conduct/Jeddah Amendment (DCoC/JA), and the Bay of Bengal Initiative for Multi-Sectoral Technical and Eco..