Ashoka Buildcon’s stock is attracting attention on Thursday after the infrastructure company won engineering, procurement, and construction (EPC) contracts totaling ₹1,738 crore.
One significant project is worth ₹474.1 crore, awarded by the Mumbai Metropolitan Region Development Authority (MMRDA). This project involves designing and building an elevated road from Kalyan Murbad Road (near Palms Water Resort) to Badlapur Road (near Jagdish Dughdhalaya) and Pune Link Road. The road will run alongside the Waldhuni River, cross over the Karjat-Kasara Railway Line, and include a slip road. It is scheduled for completion within 30 months, including the monsoon period.
In addition to this project, Ashoka Buildcon has received two more contracts worth ₹1,264 crore for the design and construction of creek bridges: one from Kolshet to Kalher and the other from Gaimukh to Payegaon. The completion timelines for these projects are 36 months and 42 months, respectively, also including the monsoon period.
For the first quarter of FY25, Ashoka Buildcon reported a remarkable 148% increase in standalone net profit, reaching ₹40.80 crore, up from ₹16.40 crore in the same quarter last year. Total income grew by 22% year-on-year to ₹1,900.80 crore, compared to ₹1,557.20 crore a year earlier. The company’s EBITDA margin improved by 150 basis points, rising to 7.6% from 6.1%.
On Tuesday, Ashoka Buildcon’s shares closed at ₹236.7, a 3.7% increase on the BSE, even as the benchmark Sensex fell slightly by 0.04%. The stock has jumped 73% in 2024 alone and 202% over the past two years, giving the company a market capitalization of ₹6,646 crore. Ashoka Buildcon is a Fortune India 500 company and one of India’s top highway developers, operating as an integrated EPC, BOT, and HAM player.
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