Ashoka Buildcon has announced that its subsidiary, Ashoka Bowaichandi Guskara Road, has signed a concession agreement with the National Highways Authority of India (NHAI) for the development of a four-lane economic corridor in West Bengal. This project, located on NH 116A, stretches from Bowaichandi to Guskara-Katwa Road and is valued at Rs 13.91 billion. The work will be carried out under the Hybrid Annuity Mode (HAM) and is expected to be completed within 910 days, including the monsoon period.

The project’s completion will involve significant improvements in infrastructure, facilitating better connectivity for the region. Ashoka Buildcon’s strong performance in securing this contract adds to its growing portfolio, which has been a key factor in its robust financial results. The company recently reported a 334.27% year-on-year increase in net profit, rising to Rs 4.62 billion in Q2 FY24. This growth is driven by an increase in revenues and a significant boost in EBITDA margins.

Ashoka Buildcon’s expanding project base underscores its expertise in large-scale infrastructure projects, positioning it as a key player in India’s road development sector.