Ashoka Buildcon subsidiary executes NHAI project in Karnataka

11 Mar 2022 , 12:14 PM

Ashoka Buildcon, on 25 October 2021 had intimated the commercial operation date (CoD) for its Hybrid Annuity Mode (HAM) project of National Highways Authority of India (NHAI) for the project viz. six laning of Belgaum-Khanapur Section of NH-4A from km. 00.000 to km 30.800 in Karnataka under NHDP Phase-IV on Hybrid Annuity Mode (Project).

Further, consequent to the declaration of CoD, Ashoka Belgaum Khanapur Road is eligible for receipt of Annuity payments from NHAI for the operation period of 15 years at the interval of every 6 months from the date of achievement of CoD. The company also announced that the SPV has received a provisional certificate for completion of 16.345 km out of total project highway length of 30.800 km.

The companys consolidated net profit surged to Rs 392.47 crore in the quarter ended December 2021 as against Rs 88.45 crore during the previous quarter ended December 2020. Net sales rose 10.34% Y-o-Y (year-on-year) to Rs 1,440.49 crore in Q3 FY22.

Shares of Ashoka Buildcon rose 0.72% to Rs 91 on BSE. Ashoka Buildcon is engaged in the construction & maintenance of roads and supporting services to land support-operation of toll roads.

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