Ashoka Buildcon shares are set to attract attention following the company’s receipt of Letters of Acceptance (LoA) for two significant projects from the Maharashtra State Road Development Corporation (MSRDCL). These projects, worth a combined Rs 2,310 crore, focus on bridge construction along the Revas Reddi Coastal Highway.
The first project, valued at Rs 310 crore, involves engineering, procurement, and construction (EPC) work for a major bridge across Bankot Creek between Kolmandla (Raigad) and Veshvi in Ratnagiri District. This project is expected to be completed within 36 months, accounting for monsoon periods.
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The second project, worth Rs 1,999.99 crore, is for constructing major bridges across Jaigad Creek and Kundalika Creek, both along the same coastal highway in Ratnagiri District. Like the first project, it is also scheduled for completion within 36 months, including the monsoon season.
In addition to these new contracts, earlier this month Ashoka Buildcon secured a Rs 1,673.24 crore project from the City & Industrial Development Corporation of Maharashtra (CIDCO). The company was also declared the lowest bidder for a Rs 918 crore project from Brihanmumbai Municipal Corporation (BMC).
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On Friday, Ashoka Buildcon’s shares closed at Rs 251.8, up 3.1%, while the benchmark Sensex fell by 0.28%. The stock has surged 84% in 2024 and 226% over the past two years. Ashoka Buildcon, with a market cap of Rs 7,068 crore, remains one of India’s top highway developers and a Fortune India 500 company.
