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Ashoka Buildcon Wins ₹1,264 Cr MMRDA Creek Bridge Projects

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Synopsis:

Ashoka Buildcon received two contracts worth ₹1,264 crore from MMRDA to design and construct creek bridges at Kolshet-Kalher and Gaimukh-Payegaon, enhancing its infrastructure portfolio.

Ashoka Buildcon news today

Ashoka Buildcon Ltd. has announced that it secured two significant contracts from the Mumbai Metropolitan Region Development Authority (MMRDA), amounting to ₹1,264 crore. The projects involve the design and construction of two crucial creek bridges, further cementing the company’s position as a key player in India’s infrastructure sector.

ASHOKA BUILDCON LTD

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288.37-4.98 (-1.69 %)

Updated - 12 December 2024
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Project details and timelines

The first contract, worth ₹289.6 crore, involves the design and construction of a creek bridge connecting Kolshet to Kalher. This project is expected to be completed within 42 months, bringing improved connectivity to these regions. The second contract, valued at ₹991.2 crore, focuses on constructing a creek bridge between Gaimukh and Payegaon. The anticipated timeline for this project is 36 months. Both projects will be executed under the engineering, procurement, and construction (EPC) model, a method in which Ashoka Buildcon has considerable experience.

The strategic importance of the contracts

These contracts represent a significant boost for Ashoka Buildcon, contributing to its growing portfolio of infrastructure projects in Maharashtra. By securing these projects, the company reinforces its reputation in the construction and infrastructure sector, where it operates through both EPC and build-operate-transfer (BOT) models.

Previous project wins and share performance

In addition to these contracts, Ashoka Buildcon had previously emerged as the lowest bidder for two major projects worth ₹2,153 crore from the Maharashtra State Road Development Corporation (MSRDC) in June. These projects included building substantial bridges across Jaigad Creek and Kundalika Creek, further showcasing the company’s ability to handle large-scale infrastructure developments.

Ashoka Buildcon's share price has reflected the company’s recent successes, with the stock gaining 85.9% so far this year. The share price stood at ₹254.5 apiece, recording a 0.32% increase on 2 August, indicating continued investor confidence in the company’s long-term growth trajectory.

Ashoka Buildcon’s latest project wins from MMRDA underline its growing prominence in India’s infrastructure landscape. With strong project pipelines and steady performance, the company remains a key player in the sector.

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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