Ashoka Buildcon Ltd Share Price – NSE /  BSE

Infrastructure Developers & Operators, Small Cap

The order entails the development of a 4-lane economic corridor from Bowaichandi to Guskara-Katwa road section 89.814 km to 133 km of NH 116A (package-3) in the state of West Bengal under hybrid annuity mode.

The project is valued at Rs 1,391 crore, and it is expected to be completed in 910 days, including the monsoon period. A special purpose vehicle (SPV) has been set up for the project's execution as per the concession agreement.

Ashoka Buildcon is engaged in the construction & maintenance of roads and supporting services to land support and operation of toll roads.

The company’s consolidated net profit surged 334.15% to Rs 462.46 crore on 15.53% jump in revenue from operations to Rs 2,488.93 crore in Q2 FY25 over Q2 FY24.

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Ashoka Buildcon announced that Ashoka Bowaichandi Guskara Road (SPV), a wholly owned subsidiary of the Company has executed a Concession Agreement with National Highways Authority of India (NHAI) on 06 January 2025, for the Project viz. “for Development of 4 lane Economic Corridor from Bowaichandi to Guskara-Katwa Road Section Km 89.814 to Km 133.000 of NH 116A (Package-3) in the state of West Bengal under Hybrid Annuity Mode. (Project).

The SPV has been incorporated as wholly owned subsidiary of the Company for the execution of this Project as per requirement of the Concession Agreement.

The accepted Bid Project Cost is Rs.1,391 crore.

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Ashoka Buildcon and its material subsidiary viz. Ashoka Concessions (ACL), have entered into securities purchase agreements and other transaction documents with Epic Concesiones 2, Infrastructure Yield Plus II and Infrastructure Yield Plus IIA (both schemes of Infrastructure Yield Trust and managed by their respective investment manager, EAAA India Alternatives (formerly known as Edelweiss Alternative Asset Advisors Limited)) for, inter alia, sale of the entire share capital (including repayment/transfer of all shareholder loans) and management control of the SPVs held by the Company and/or ACL in their following subsidiaries:

1) Ashoka Kharar Ludhiana Road; 2) Ashoka Khairatunda Barwa Adda Road; 3) Ashoka Ranastalam Anandapuram Road; 4) Ashoka Ankleshwar Manubar Expressway; 5) Ashoka Mallasandra Karadi Road; 6) Ashoka Bettadahalli Shivamogga Road; 7) Ashoka Karadi Banwara Road; 8) Ashoka Belgaum Khanapur Road; 9) Ashoka Banwara Bettadahalli Road; 10) Ashoka Kandi Ramsanpalle Road; and 11) Ashoka Baswantpur Singnodi Road collectively, the “SPVs”, for an aggregate consideration of Rs.2,324 crore, subject to adjustments for cash and debt like items and other adjustments.

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Ashoka Buildcon has secured an EPC contract from Banglore International Airport for construction of elevated western crossfield taxiways, apron and associated works (taxiway systems, pavement, drainage works, ancillary buildings and associated infrastructure facilities). The project is valued at Rs 1,055 crore.

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