Ashoka Buildcon's subsidiary has emerged as the lowest bidder for a Rs 1,187.10-crore road project in Andhra Pradesh.

“The company’s subsidiary Ashoka Concessions Ltd (ACL) had submitted its bid to the National Highways Authority of India for six-laning of Ranastalam to Anandpuram in Visakhapatnam (from km 6,34.000 to km 6,81.000) section of NH-5 {New NH-16} in the state of Andhra Pradesh under NHDP Phase-V on Hybrid Annuity Mode Project,” Ashoka Buildcon said in a BSE filing.

It further said: “ACL emerged as the lowest bidder at the financial bid opening meeting. The bid project cost quoted by ACL is Rs 1,187.10 crore.”

Shares of Ashoka Buildcon were trading 5.86 per cent higher at Rs 197 on the BSE.