Ashoka Buildcon shares in focus after winning Rs 1,391 crore NHAI road project
Ashoka Buildcon shares are in focus today after the firm received a Letter of Award (LOA) for a Hybrid Annuity Model (HAM) road project in West Bengal from the National Highways Authority of India (NHAI). The accepted bid project cost is Rs 1,391 crore.
According to the company's stock exchange filing on Monday, the project involves the development of a four-lane economic corridor from Bowaichandi to the Guskara-Katwa Road Section (Km 89.814 to Km 133.000) of NH 116A (Package-3) in West Bengal, under the HAM.
Earlier, on November 18, 2024, the company was declared the lowest bidder (L-1) during the bidding process for the project mentioned above, as well as another HAM project for the development of a four-lane economic corridor from Kharagpur to the Chandrakona Ghatal Road Crossing section (Km 0.000 to Km 41.000) of NH 116A (Package-I) in West Bengal.
The quoted bid price for the four-lane economic corridor from Kharagpur to Chandrakona Ghatal Road Crossing is Rs 1,400 crore, excluding GST. The company has not provided any updates regarding the LOA for the second project.
Both projects are expected to be executed within 910 days, including the monsoon period.
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