The shares of Ashoka Buildcon rose as much as 5.5 percent on Thursday, a day after the company said it has received a Letter of Acceptance from South Western Railway for a construction project worth Rs 258.12 crore.
Ashoka Buildcon shares were trading 1.2 percent higher at Rs 83.4 on BSE at the time of writing.
"The company had submitted its bid to the South Western Railway and the company has received a Letter of Acceptance from SWR for the project viz ‘Construction of New BG Line Between Chainage 192.000 and Chainage 171.640 including Electrical & Telecommunication Works Between Tolahunse (Ex.) & Bharmasagar (Ex.) Stations on Engineering, Procurement & Construction (EPC) Mode’," the company said in an exchange filing.
The completion period for the project is 24 months.
Ashoka Buildcon in August had received the letter of intent for Rs 254.50 crore from Provident Housing Ltd for the Project viz 'Civil and Structural Finishes work for Provident Palmvista Residential Project, at Kalyan'. The construction period for the project is 42 months.
The company reported net sales at Rs 1,878.6 crore in June 2022 up 46.4 percent from Rs 1,283.15 crore in the year ago period. The quarterly net profit was reported at Rs 134.55 crore up 67.7 percent from Rs 80.22 crore in corresponding period in previous fiscal. The company reported EBITDA at Rs 521.33 crore in June 2022 up 23 percent from Rs 423.83 crore in June 2021.
