Ashoka Buildcon has won ₹478 crore project from MMRDA with execution times of 36 months. The company’s Q1 FY25 standalone net profit jumps 148% YoY to ₹40.8 crore. The Ashoka Buildcon share price has delivered a 132.53% return in the last 12 months.
Ashoka Buildcon Limited has emerged as the lowest bidder (L-1) for a significant project awarded by the Mumbai Metropolitan Region Development Authority (MMRDA), valued at ₹478 crore. This development marks a substantial addition to the company's project portfolio, further strengthening its position in the infrastructure sector.
The project involves the design and construction of an elevated road, starting from Kalyan-Murbad Road (Palms Water Resort) and extending to Badlapur Road (Jagdish Dughdhalaya), leading up to the Pune Link Road.
The road will run parallel to the Waldhuni River and cross over the Karjat-Kasara Railway line, including a slip road.
Ashoka Buildcon's quoted bid price for this extensive project is ₹478 crore, with an expected execution timeline of 36 months, inclusive of the monsoon period.
Ashoka Buildcon has recently reported impressive financial results for Q1 FY25. The company's standalone net profit surged by 148% year-over-year (YoY), reaching ₹40.8 crore compared to ₹16.4 crore in Q1 FY24.
Additionally, the total income for the quarter rose by 22% YoY, amounting to ₹1,900.8 crore. This strong financial performance underscores the company's robust operational capabilities and strategic project execution.
On the trading front, the Ashoka Buildcon share price closed at ₹233.00 on Friday, a slight decline of 0.75% before the announcement of this project win. However, the stock has shown remarkable performance over the past 12 months, delivering a return of 132.53%, effectively more than doubling investors' money.
Ashoka Buildcon's recent project win, coupled with its strong financial performance, positions the company well for continued growth in the infrastructure sector. The company's ability to secure high-value projects like the ₹478 crore MMRDA assignment and its impressive YoY profit growth reflects its strategic prowess and operational excellence.
Investors have also reaped substantial rewards, with the Ashoka Buildcon share price demonstrating significant appreciation over the past year.
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:
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading