As per the regulatory filing the company declared 31 March 2022 as the Commercial Operation Date (COD) for its hybrid annuity mode project of National Highways Authority of India (NHAI)

The letter issued by Independent Engineer on March 31, 2022 for the scope of project involves, eight Lane Vadodara Kim Expressway from Ankleshwar to Manubar section of Vadodara Mumbai Expressway in Gujarat under National Highways Development Project (NHDP) Phase - VI on Hybrid Annuity Mode.

Further the company stated, the SPV 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 said SPV has received a Provisional Certificate for completion of 11.25 KMs out of total project stretch of 13.00 KMs, company added.

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

The company's 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% YoY to Rs 1,440.49 crore in Q3 FY22.

Shares of Ashoka Buildcon rallied 4.20% to close at Rs 89.35 on BSE yesterday, 1 April 2022.