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Ashoka Buildcon emerged as the lowest bidder for two MMRDA projects worth ₹1,280.8 crore, involving the construction of creek bridges from Kolshet to Kalher and Gaimukh to Payegaon, with expected completion in 42 and 36 months respectively.
Ashoka Buildcon Ltd, a prominent player in the construction and infrastructure sector, announced on Saturday, August 3, that it has emerged as the lowest bidder for two significant projects of the Mumbai Metropolitan Region Development Authority (MMRDA). The combined worth of these projects is around ₹1,280.8 crore.
The awarded projects involve the design and construction of two creek bridges. The first bridge will connect Kolshet to Kalher, while the second will link Gaimukh to Payegaon. Both projects will be executed under the engineering, procurement, and construction (EPC) model.
Kolshet to Kalher Creek Bridge:
Project Value: ₹289.6 crore
Completion Time: 42 months
Gaimukh to Payegaon Creek Bridge:
Project Value: ₹991.2 crore
Completion Time: 36 months
These projects signify Ashoka Buildcon's strategic role in enhancing infrastructure within the Mumbai Metropolitan Region.
Ashoka Buildcon has consistently secured major projects, reinforcing its market position. In June, the company emerged as the lowest bidder for two projects worth ₹2,153 crore from the Maharashtra State Road Development Corporation.
Jaigad Creek Bridge:
Location: Between Tawsal and Jaigad on the Revas-Reddi Coastal Highway
Project Value: ₹794.85 crore
Completion Time: 36 months
Kundalika Creek Bridge:
Location: Between Revdanda and Salav on the Revas-Reddi Coastal Highway
Project Value: ₹1,357.87 crore
Completion Time: 36 months
On Friday, Ashoka Buildcon shares closed 0.32% higher at ₹254.50 on NSE. The stock has shown a robust performance, gaining 85.90% year-to-date, reflecting investor confidence and the company’s strong project acquisition pipeline.
Ashoka Buildcon's latest project wins from MMRDA further consolidates its leadership in the construction and infrastructure sector. With a strategic focus on delivering high-value EPC projects, the company continues to contribute significantly to regional infrastructure development while maintaining a strong market presence.
These new contracts highlight Ashoka Buildcon's unwavering commitment to excellence and its pivotal role in shaping India's infrastructure landscape. Investors closely monitor Ashoka Buildcon's share price as it adds new projects to its order book.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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