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
Infrastructure Energy

Samridh, CEID Launch High-Capacity Biogas Plant in Moradabad

Samridh Bioenergy has broken ground on a 12 TPD compressed biogas (CBG) plant in Moradabad, Uttar Pradesh, under the MNRE’s National Bioenergy Programme. Spread across 12 acres, the plant will process 270 tonne of organic waste daily and generate 30,000 cubic metre of biogas per day.CEID Consultants and Engineering Pvt Ltd has been appointed as the EPC contractor, responsible for the complete design, procurement, and construction of the plant. Equipped with four multi-feed digesters, the facility will accept a mix of press mud, cow dung, chicken litter, and vegetable waste, supporting contin..

Next Story
Real Estate

Delhi Micro-Markets Drive Up Housing Prices: Grihum Study

A new study by Grihum Housing Finance reveals that the rise of micro-markets across Delhi-NCR is fuelling real estate price appreciation, especially in the affordable housing segment. Key drivers include renewed post-pandemic interest, migration trends, and government schemes like PMAY.According to the study, over the past two decades, floor rates have risen 267 per cent, from Rs 1,500 per sq ft in 2005 to Rs 5,500 in 2024. In the same period, land rates surged 492 per cent, from Rs 1,300 to Rs 7,700 per sq ft. The sharp increase highlights strong capital appreciation in Delhi’s emerging loc..

Next Story
Resources

Covestro Develops PCR Polycarbonates from End-of-Life Headlamps

Materials manufacturer Covestro has launched post-consumer recycled (PCR) polycarbonates made from end-of-life automotive headlamps, in a move aimed at strengthening circularity in the auto industry. These TÜV Rheinland-certified grades, containing 50 per cent recycled content, are now commercially available for new automotive applications.Developed under a joint programme led by GIZ, with Volkswagen and NIO as key partners, the recycled material is currently being validated for use in future vehicle models.""This new line of polycarbonate represents a significant step in supporting the autom..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?