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 Energy

14 Oct 2025

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Infrastructure Energy

14 Oct 2025

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

Infrastructure Energy

14 Oct 2025

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..