Ashoka Buildcon gets NHAI approval for ₹1,391 Crore project

26 Nov 2024 , 03:18 PM

On Monday (November 25), Ashoka Buildcon Ltd obtained a letter of award (LoA) from the National Highways Authority of India (NHAI) for a ₹1,391 Crore project.

The contract calls for the construction of a four-lane economic corridor from Bowaichandi to Guskara-Katwa Road (km 89.814 to km 133) along NH-116A in West Bengal using a hybrid annuity mode. The project is projected to be completed in 910 days, including the monsoon season.

Ashoka Buildcon reported a 334.27% YoY increase in net profit to ₹462.5 Crore for the second quarter ended September 30, 2024. Ashoka Buildcon reported a net profit of ₹106.5 Crore last year. Revenue from operations climbed by 15.5% to ₹2,489 Crore, up from ₹2,154.3 Crore in the previous fiscal year.

In the second quarter of this fiscal year, EBITDA increased by 65.8% to ₹905.3 Crore from ₹546 Crore in the same quarter the previous year. The EBITDA margin was 36.4% in the reporting quarter, compared to 25.3% in the same period in FY24. 

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