BAJAJ BROKING

Notification
No new Notification messages
Vishal Mega Mart IPO is Open!
Apply for the Vishal Mega Mart IPO through UPI in just minutes.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Trade Now, Pay Later with up to 4x
Never miss a good trading opportunity due to low funds with our MTF feature.
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.

Ashoka Buildcon’s Viva Highways Monetises Pune Land for ₹453 Crore

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

Ashoka Buildcon’s Viva Highways Ltd, has monetised land in Pune’s Hinjewadi for ₹453 crore. This move follows the company’s recent successes, including securing two major infrastructure projects worth ₹1,280.8 crore.

Ashoka Buildcon Ltd, a renowned name in the infrastructure sector, announced on Thursday (September 5) that its wholly-owned subsidiary, Viva Highways Ltd (VHL), has successfully monetised land in Pune for ₹453 crore. The land, located in the prime Hinjewadi area, forms part of VHL’s real estate portfolio.

In a stock exchange filing, Ashoka Buildcon confirmed the transaction, stating, “This is to inform that Ashoka Buildcon Limited has been apprised by Viva Highways Limited (VHL), a wholly owned subsidiary, that the land owned by it under its Real Estate Portfolio, situated at Hinjewadi, Pune, has been monetized at a total consideration of ₹453 crore."

Financial boost for Ashoka Buildcon

This land monetisation provides a significant financial boost to Ashoka Buildcon, reflecting the company’s ability to leverage its real estate assets efficiently. The substantial sum of ₹453 crore not only strengthens the company’s financial position but also enhances its liquidity, enabling potential future investments in key infrastructure projects.

Viva Highways' land monetisation is well-timed, considering Ashoka Buildcon's recent win as the lowest bidder for two major Mumbai Metropolitan Region Development Authority (MMRDA) projects. These contracts, worth ₹1,280.8 crore, add to the company’s already impressive portfolio of ongoing infrastructure works.

ASHOKA BUILDCON LTD

Trade

286.16-2.20 (-0.76 %)

Updated - 13 December 2024
289.33day high
DAY HIGH
285.00day low
DAY LOW
2364598
VOLUME (BSE)

Ashoka Buildcon’s ongoing success

Last month, Ashoka Buildcon emerged as the lowest bidder for two significant infrastructure projects in the Mumbai region, which are estimated at ₹1,280.8 crore. The projects include designing and constructing a creek bridge from Kolshet to Kalher, valued at ₹289.6 crore, and another from Gaimukh to Payegaon, worth ₹991.2 crore. The completion timelines for these projects are set at 42 months and 36 months, respectively.

Ashoka Buildcon’s business model primarily focuses on engineering, procurement, and construction (EPC) contracts and build-operate-transfer (BOT) models, which have helped the company sustain its position in the competitive infrastructure market.

Share performance and market outlook

The company’s shares have seen a positive upturn, with Ashoka Buildcon Ltd’s stock closing at ₹268.10, up by ₹31.45 or 13.29% on the Bombay Stock Exchange (BSE). This rise in stock value can be attributed to the successful monetisation of its land assets and the recent project wins.

With the monetisation of the Hinjewadi land and continued success in securing new contracts, Ashoka Buildcon remains a key player in India's infrastructure sector. This latest development reinforces the company's financial health and paves the way for future growth opportunities.

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

Share this article: 

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

8 Lacs+ Users

icon-with-text

4.4+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4700+ Cr MTF Book

icon-with-text