The construction engineering company on Thursday said that it has received Letter of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for Development of Distribution Infrastructure at Maharashtra’s Latur, Washim, Nanded, Gadchiroli O&M, Parbhani, Malegaon, Nashik, Nashik Urban circle.
The company had earlier bagged a LoA for a civil engineering work from Ministry of Railways. Prior to this, on March 7, Ashoka Buildcon had received Notification of Award (NoA) from North Bihar Power Distribution Company (NBPDCL) for a project in Bihar for Rs 366.67 crore.
In February, the company had won an order worth $80.2 m from Bangladesh Government’s Ministry of Road Transport and Bridges (MORTB).
In an earlier update, the company had received a provisional certificate for the National Highways Authority of India’s (NHAI) project under the Bharatmala Pariyojna in Telangana for designing, engineering, building, financing, procurement, construction, development, commissioning, operation, and maintenance.
The company received the provisional certificate for 37.92 km out of the total project highway length of 39.980 km.
In the beginning of February, Ashoka Buildcon had reported its December quarter earnings which showed a drop of nearly 65 percent in co’s net profit at Rs 136.1 crore against Rs 293 crore in the same quarter last year.
The company also saw a contraction in its margin at 25.1 percent as compared to 27.7 percent in the same quarter last year. However, the EBITDA surged 23 percent to Rs 490 crore as compared to Rs 398.4 crore in the year-ago quarter.
Also read: Asian Energy Services secures approval for order worth $20 million from Svetah Energy Infrastructure
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