Ashoka Buildcon receives LoA from MORTH for NH project

Ashoka Buildcon rose 2.29% to Rs 98.10 after the company said it received letter of award for a construction project in Goa.

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NHAI

Ashoka Buildcon has received letter of award from the Ministry of Road Transport & Highways (‘MoRTH’) in respect of the project, which entails construction of six lane link road (NH-166S) with paved shoulder configuration to Mopa Airport in Goa on EPC mode.

The accepted quoted offer of the project is Rs 769.41 crore.

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 rose 9.12% to Rs 79.94 crore on a 6.35% increase in net sales to Rs 1,264.87 crore in Q2 FY22 over Q2 FY21.