+
Ashoka Buildcon’s Arm Wins Rs 13.91-Bn NHAI Project in WB
ROADS & HIGHWAYS

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

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.

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.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?