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Ashoka Buildcon Wins MMRDA Project Worth ₹478 Crore

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Synopsis:

Ashoka Buildcon has won ₹478 crore project from MMRDA with execution times of 36 months. The company’s Q1 FY25 standalone net profit jumps 148% YoY to ₹40.8 crore. The Ashoka Buildcon share price has delivered a 132.53% return in the last 12 months.

Ashoka Buildcon News Today

Ashoka Buildcon Limited has emerged as the lowest bidder (L-1) for a significant project awarded by the Mumbai Metropolitan Region Development Authority (MMRDA), valued at ₹478 crore. This development marks a substantial addition to the company's project portfolio, further strengthening its position in the infrastructure sector.

Project Details and Scope

The project involves the design and construction of an elevated road, starting from Kalyan-Murbad Road (Palms Water Resort) and extending to Badlapur Road (Jagdish Dughdhalaya), leading up to the Pune Link Road.

The road will run parallel to the Waldhuni River and cross over the Karjat-Kasara Railway line, including a slip road.

Ashoka Buildcon's quoted bid price for this extensive project is ₹478 crore, with an expected execution timeline of 36 months, inclusive of the monsoon period.

ASHOKA BUILDCON LTD

Trade

295.16.73 (2.33 %)

Updated - 13 December 2024
296.00day high
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283.51day low
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3064209
VOLUME (BSE)

Ashoka Buildcon Q1 FY25 Results

Ashoka Buildcon has recently reported impressive financial results for Q1 FY25. The company's standalone net profit surged by 148% year-over-year (YoY), reaching ₹40.8 crore compared to ₹16.4 crore in Q1 FY24.

Additionally, the total income for the quarter rose by 22% YoY, amounting to ₹1,900.8 crore. This strong financial performance underscores the company's robust operational capabilities and strategic project execution.

Ashoka Buildcon Share Price Performance

On the trading front, the Ashoka Buildcon share price closed at ₹233.00 on Friday, a slight decline of 0.75% before the announcement of this project win. However, the stock has shown remarkable performance over the past 12 months, delivering a return of 132.53%, effectively more than doubling investors' money.

Key Takeaways

Ashoka Buildcon's recent project win, coupled with its strong financial performance, positions the company well for continued growth in the infrastructure sector. The company's ability to secure high-value projects like the ₹478 crore MMRDA assignment and its impressive YoY profit growth reflects its strategic prowess and operational excellence. 

Investors have also reaped substantial rewards, with the Ashoka Buildcon share price demonstrating significant appreciation over the past year.

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.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

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