The company's subsidiary Ashoka Concessions has received a letter of award (LOA) from National Highways Authority of India.
Shares of Ashoka Buildcon advanced 4 percent intraday Monday after company's subsidiary received LoA from NHAI.
The company's subsidiary Ashoka Concessions has received a letter of award (LOA) from National Highways Authority of India (NHAI) for the project viz. Tumkur — Shivamogga Section from Bettadahalli Shivamogga (Package IV) on hybrid annuity mode under Bharatmala in the State of Karnataka.
Also, Ashoka Khairatunda Barwa Adda Road has received January 08, 2019 as an appointed date for the NHAI project.
The accepted bid project cost is Rs 860.10 crore. The construction period of the project is 730 days from an appointed date and operation period is 15 years from COD.
Ashoka Khairatunda Barwa Adda Road is a wholly owned subsidiary of Ashoka Concessions (ACL) a subsidiary of the company.
ACL was the preferred bidder for the project viz. six laning of Khairatunda to Barwa Adda Section of NH-2 in the State of Jharkhand under NHDP Phase-V on hybrid annuity mode.
At 11:15 hrs Ashoka Buildcon was quoting at Rs 137.20, up Rs 3.45, or 2.58 percent on the BSE.
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