Ashoka Buildcon said it has received a contract worth ₹1,567.45 crore for upgrading a part of the national highway NH-19 in West Bengal.
“Ashoka Buildcon Limited is pleased to announce that the company has received Letter of Award from Adani Road Transport Limited in respect of the Project viz. ‘Execution of civil and associated works on Engineering, Procurement and Construction (EPC) basis of six-laning of National Corridor NH-19 from Pangarh to Palsit from 521.12 km to 588.87 km (total design length 67.75 km) in the State of West Bengal’," the highway developer said in a stock exchange filing on Saturday.
The accepted EPC contract price is ₹1,567.45 crore, it further added.
Ashoka Buildcon had reported a consolidated net profit of ₹80.22 crore rupees in the June quarter of the current fiscal, against a loss of ₹27.9.4 crore in the year-ago period.
The company posted a consolidated revenue from operations of ₹1,283 crore during the quarter, versus ₹761 crore in the corresponding quarter last year.
Ashoka Buildcon has seen execution and toll collections improve since June with the easing of lockdown restrictions. The outlook is further supported by already a strong order book.
Order flow has remained strong and the company has bagged order inflow worth ₹3,000 crore in FY22 till August. It is targeting and expecting orders worth another ₹4,000 crore in FY22.
With the robust NHAI bid pipeline at ₹33,000 crore, the FY22 inflow guidance of ₹7000 crore seems achievable, as per analysts.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!
Ashoka Buildcon bags ₹1,567 cr order for upgrading national highway in WB - Mint
Read More
No comments:
Post a Comment