Hot Pursuit     23-Jan-24
Ashoka Buildcon bags LoA from CIDCO worth Rs 663 cr
Ashoka Buildcon informed that its joint venture (JV) has received letter of acceptance (LoA) from City & Industrial Development Corporation of Maharashtra (CIDCO) for construction project worth Rs 662.55 crore.
The project includes design and construction of Stilt Bridge SBR - 9 for eastern connectivity for Navi Mumbai International Airport (NMIA) project, Navi Mumbai, in JV, where the company is lead member of JV.

The accepted contract value for the Project stood at Rs 662.55 crore.

Ashoka Buildcon is engaged in the business of construction of infrastructure facilities on Engineering, Procurement and Construction Basis (EPC) and Built, Operate and Transfer (BOT) Basis and Sale of Ready Mix Concrete.

The company's consolidated net profit increased 76.39% to Rs 112.29 crore on 19.17% jump in net sales to Rs 2,154.31crore in Q2 FY24 over Q2 FY23.

The scrip declined 0.09% to currently trade at Rs 161.55 on the BSE.

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