Infra stock engaged in the business of providing construction and infrastructure facilities for roads, railways, power, supporting services, and many more jumped 13 percent in the day’s trade upon receiving a work order worth 18.50 Million Euros or Rs. 168 Crores.
With a market capitalization of Rs. 5,822 Crores, the shares of Ashoka Buildcon Limited were trading at Rs. 208.20 per equity share, up 11.19 percent from its previous day’s close price of Rs. 187.15.
Ashoka Buildcon Limited has executed an EPC Agreement with Serneke International Group AB, Sweden, for the Project floated by Baran International Limited for a consideration of 18.50 Million Euros or Rs. 168 Crores.
The work order is for providing Engineering, Procurement, and Construction (EPC) services for the Construction of 100 drinking water wells and supply and installation of drinking water supply units in 35 villages of Ivory Coast. The Project is to be completed by October 31, 2026.
Ashoka Buildcon Limited is engaged in the business of providing construction and infrastructure facilities for roads, railways, power, supporting services, and many more on an Engineering, Procurement, and Construction (EPC) and build-operate-transfer (BOT) basis.
It has a strong customer base with some marquee clients like NHAI, the Ministry of Road Transport and Highways, Ircon International, Rail Vikas Nigam, NHIDCL, the Public Works Department, and many others.
As of March 31st, 2024, Ashoka Buildcon Limited has a strong order book of Rs. 11,000+ Crores and its segment breakup is as follows Power T&D 41 percent, Road EPC 37.6 percent, Roads on Hybrid Annuity Model 8.1 percent, Building EPC 5.9 percent, and Railways 7.5 percent.
Its Revenue from Operations grew by 24.65 percent from Rs. 2,448.42 Crores in Q4FY23 to Rs. 3,051.87 Crores in Q4FY24, accompanied by profits of Rs. 34.21 Crores to Rs. 254.21 Crores.
Written by: Bharath K.S
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