Ashoka Buildcon declared that it had won the lowest bid (L-1) for two EPC projects totaling Rs 2,791 crore from the National Highways Authority of India (NHAI) in West Bengal under the Hybrid Annuity Model (HAM).
Project 1
The first project entails building a four-lane economic corridor in West Bengal from Kharagpur to the Chandrakona-Ghatal Road Crossing segment of NH 116A (Package-I). The construction project is expected to cost Rs 1,400 crore and take 910 days to complete.
Project 2
The second project, which has a construction cost of Rs 1,391 crore, is building a 4-lane economic corridor in West Bengal from Bowaichandi to the Guskara-Katwa Road segment of NH 116A (Package-3). 910 days is the projected completion time. In addition to building and maintaining roads, Ashoka Buildcon also provides land support services for toll road operations.
Ashoka Buildcon Q2 Results
Ashoka Buildcon Ltd, a highway developer, announced on Tuesday, November 12, that its net profit for the second quarter, which ended on September 30, 2024, increased 334.27% year over year (YoY) to ₹462.5 crore. According to a regulatory filing, Ashoka Buildcon reported a net profit of ₹106.5 crore for the previous year. Operational revenue rose 15.5% to ₹2,489 crore from ₹2,154.3 crore during the same period in the previous fiscal year.
Operating-wise, EBITDA increased 65.8% to ₹905.3 crore in the second quarter of this fiscal year compared to ₹546 crore in the same quarter of the previous fiscal year. In the reporting quarter, the EBITDA margin was 36.4%, up from 25.3% during the same time in FY24. Earnings before interest, taxes, depreciation, and amortization is known as EBITDA.
About Ashoka Buildcon Ltd
Ashoka Buildcon Limited, a construction firm based in Nashik, Maharashtra, was founded in 1993 and is engaged in the construction and maintenance of roads and bridges in India. The largest operator of toll-based BOT (build, operate, and transfer) projects in India is Ashoka Buildcon. For third parties, the company also engineers, designs, and maintains commercial and industrial structures, highways, bridges, and electrical substations. The company’s other operations include the production and distribution of ready-mix concrete and bitumen as well as the collection of tolls on third-party-owned and built roads and bridges.
