BAJAJ BROKING
Ashoka Buildcon received two contracts worth ₹1,264 crore from MMRDA to design and construct creek bridges at Kolshet-Kalher and Gaimukh-Payegaon, enhancing its infrastructure portfolio.
Ashoka Buildcon Ltd. has announced that it secured two significant contracts from the Mumbai Metropolitan Region Development Authority (MMRDA), amounting to ₹1,264 crore. The projects involve the design and construction of two crucial creek bridges, further cementing the company’s position as a key player in India’s infrastructure sector.
The first contract, worth ₹289.6 crore, involves the design and construction of a creek bridge connecting Kolshet to Kalher. This project is expected to be completed within 42 months, bringing improved connectivity to these regions. The second contract, valued at ₹991.2 crore, focuses on constructing a creek bridge between Gaimukh and Payegaon. The anticipated timeline for this project is 36 months. Both projects will be executed under the engineering, procurement, and construction (EPC) model, a method in which Ashoka Buildcon has considerable experience.
These contracts represent a significant boost for Ashoka Buildcon, contributing to its growing portfolio of infrastructure projects in Maharashtra. By securing these projects, the company reinforces its reputation in the construction and infrastructure sector, where it operates through both EPC and build-operate-transfer (BOT) models.
In addition to these contracts, Ashoka Buildcon had previously emerged as the lowest bidder for two major projects worth ₹2,153 crore from the Maharashtra State Road Development Corporation (MSRDC) in June. These projects included building substantial bridges across Jaigad Creek and Kundalika Creek, further showcasing the company’s ability to handle large-scale infrastructure developments.
Ashoka Buildcon's share price has reflected the company’s recent successes, with the stock gaining 85.9% so far this year. The share price stood at ₹254.5 apiece, recording a 0.32% increase on 2 August, indicating continued investor confidence in the company’s long-term growth trajectory.
Ashoka Buildcon’s latest project wins from MMRDA underline its growing prominence in India’s infrastructure landscape. With strong project pipelines and steady performance, the company remains a key player in the sector.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Garuda Construction and Engineering IPO- How to Apply in Minutes?
04 Oct, 2024 | 5 Min. read
Share Market Today | Gift Nifty Indicates Negative Opening For Indian Markets
04 Oct, 2024 | 4 Min. read
Oil Prices Rise Amid Concerns Over Israel-Iran Conflict
04 Oct, 2024 | 2 Min. read
FPIs Offload Over $3 Billion In Indian Shares In 3 Sessions
04 Oct, 2024 | 2 Min. read
BSE To Discontinue Weekly Derivatives On Sensex 50, Bankex
04 Oct, 2024 | 2 Min. read
India Launches ₹1.01 Lakh Crore Farm Sector Schemes
04 Oct, 2024 | 2 Min. read
Commodities Market Today | Brent Crude Rises 5%, Gold Prices Flat Amid Dollar Strength
04 Oct, 2024 | 1 Min. read
Gold Rate Today | Gold Prices Flat As U.S. Dollar Strengthens
04 Oct, 2024 | 2 Min. read
Balance Sheet: Meaning, Importance & Components
04 Oct, 2024 | 5 Min. read
Commodities Market Today | WTI Crude Rises 1.6%, Gold Falls, Silver Gains 1.2%
03 Oct, 2024 | 1 Min. read
Share Market Today | Gift Nifty Hints At Over 250 Points Drop In Indian Markets
03 Oct, 2024 | 4 Min. read
Gold Rate Today | Gold Falls 0.4%, Silver Rises 1.2% In Latest Market Update
03 Oct, 2024 | 2 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading