Ashoka Buildcon gets LoA for NHAI road project; Stock under pressure

31 Mar 2022 , 02:48 PM

In continuation to the announcement made on March 29, 2022, Ashoka Buildcon Limited has further updated that the Company has received a Letter of Award (LOA) from National Highways Authority of India (“NHAI”) for the Project viz. ‘Development of 6 lane Access Controlled Greenfield highway from KM 162.500 to KM 203.100, Baswantpur to Singondi Section of NH 150 C (Package 4 of Akkalkot KNT of IS Border) on Hybrid Annuity Mode (HAM) under Bharatmala Pariyojana’ (Project).

The accepted Bid Project Cost for the Project is Rs1,079 crore, said company.

Further, the Construction period is 912 days from the appointed date. The operation period is 15 years from the Commercial Operation Date.

Ashoka Buildcon was trading at Rs85.80 apiece down by Rs0.1 or 0.12%, at around  2:52 PM on Sensex.