The shares of the leading highway developer gained up to 5 percent after the company declared as a lower bidder for the EPC project which is valued at Rs 478 crore.
Ashoka Buildcon Ltd has a market capitalization of Rs 6,636.30 crore, the shares were trading at Rs 236.40 per share, increasing around 2 percent as compared to the previous closing price of Rs 232.40 apiece.
Reason for Rise:-
The company shares have seen positive movement after Ashoka Buildcon Ltd declared as a lower bidder for the work of Design and Construction of an Elevated Road from Kalyan-Murbad Road (Palms Water Resort) to Badlapur Road (Jagdish Dughdhalaya) to Pune Link Road parallel to Waldhuni River Crossing Over Karjat- Kasara Railway Line Including Slip Road from Mumbai Metropolitan Region Development Authority (MMRDA) which is valued at Rs 478 crore.
Financial performance:-
Analyzing a company’s financial performance, revenue grew by 27 percent from Rs 1,935 crore in Q1FY24 to Rs 2,465 crore in Q1FY25, during the same time frame, the company’s net profit zoomed significantly by 119 percent from Rs 72 crore to Rs 158 crore.
Order Book & recent projects:-
As of June 30, 2024, the business has a strong order book of about Rs 10,356 crore. Ashoka Buildcon has completed a 14,000 km roadway and lit 30,000 villages through Power T&D projects. The company’s clients include NHAI, Rail Vikas Nigam Ltd, and Ircon International Ltd, among others.
The company received completion certificates for two NHAI Hybrid Annuity Mode (HAM) projects, emerged as the lowest bidder for four EPC projects in Maharashtra, Mumbai, and signed an EPC agreement for a water supply project in the Ivory Coast.
Remarkable Return:-
The company has given a return of 32.61 percent in six months and a multi-bagger return of 137.23 percent in a year. If an individual investment of Rs. 1 lakh in the company would be worth Rs. 2.37 lakh in a year.
Company Profile:-
Ashoka Buildcon Limited is in the business of building and maintaining roads, as well as providing land support services such as toll road operations. The company also constructs buildings, electricity lines, trains, and municipal gas distribution.
Written by:- Abhishek Singh
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