Ashoka gains on emerging lowest bidder for projects from MMRDA

09 Aug 2024 CW Team

In a statement filed with the stock exchange, Ashoka Buildcon reported that it had submitted bids for two projects with the MMRDA and had emerged as the lowest bidder for both. The projects are classified under Engineering, Procurement, and Construction (EPC) work.

The first order requires Ashoka Buildcon Ltd to design and construct the Creek Bridge from Kolshet to Kalher, while the second order involves the design and construction of the Creek Bridge from Gaimukh to Payega, with a completion timeline of 36 months, including the monsoon period.

Ashoka Buildcon Ltd is a company that specialises in construction and infrastructure development, operating on an EPC (Engineering, Procurement, and Construction) and BOT (Build, Operate, Transfer) basis. The company also engages in the production and sale of Ready Mix Concrete (RMC). As a Fortune India 500 company, Ashoka Buildcon is a leading player in India?s highway development sector, operating as an integrated entity across EPC, BOT, and HAM (Hybrid Annuity Model) projects. Its key segments include Highways & Bridges, Power (EPC), Railway Works, Buildings (EPC), City Gas Distribution, and Smart Infrastructure. With experience in executing or currently handling 41 Public-Private Partnership (PPP) projects, Ashoka Buildcon has a significant presence across more than 20 states in India. Notable achievements include constructing one of India?s longest 6-lane flyovers in Kerala, spanning 12.752 km, India?s first 8-lane Extradosed Cable Stayed Bridge, completed in just 33 months, and the Bundelkhand Expressway.

Shares of the construction engineering company Ashoka Buildcon increased by as much as 2.83 %, reaching an intraday high of Rs 259.50 per share in an otherwise weak market. This rise in share price followed the company?s announcement that it had emerged as the lowest bidder (L-1) for two projects from the Mumbai Metropolitan Region Development Authority (MMRDA). In a statement filed with the stock exchange, Ashoka Buildcon reported that it had submitted bids for two projects with the MMRDA and had emerged as the lowest bidder for both. The projects are classified under Engineering, Procurement, and Construction (EPC) work. The first order requires Ashoka Buildcon Ltd to design and construct the Creek Bridge from Kolshet to Kalher, while the second order involves the design and construction of the Creek Bridge from Gaimukh to Payega, with a completion timeline of 36 months, including the monsoon period. Ashoka Buildcon Ltd is a company that specialises in construction and infrastructure development, operating on an EPC (Engineering, Procurement, and Construction) and BOT (Build, Operate, Transfer) basis. The company also engages in the production and sale of Ready Mix Concrete (RMC). As a Fortune India 500 company, Ashoka Buildcon is a leading player in India?s highway development sector, operating as an integrated entity across EPC, BOT, and HAM (Hybrid Annuity Model) projects. Its key segments include Highways & Bridges, Power (EPC), Railway Works, Buildings (EPC), City Gas Distribution, and Smart Infrastructure. With experience in executing or currently handling 41 Public-Private Partnership (PPP) projects, Ashoka Buildcon has a significant presence across more than 20 states in India. Notable achievements include constructing one of India?s longest 6-lane flyovers in Kerala, spanning 12.752 km, India?s first 8-lane Extradosed Cable Stayed Bridge, completed in just 33 months, and the Bundelkhand Expressway.

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