Latest news with #AshokaBuildcon
Business Upturn
4 days ago
- Business
- Business Upturn
Ashoka Buildcon's Rs 1,673 crore infrastructure project halted following Bombay High Court order
Ashoka Buildcon Limited has announced a major setback regarding its infrastructure project awarded under the Navi Mumbai Airport Influence Notified Area (NAINA) initiative. The company, in joint venture with Aakshya Infra Projects Private Limited, was previously selected by the City & Industrial Development Corporation of Maharashtra Ltd. (CIDCO) for the 'Integrated Infrastructure Development' project. The ₹1,673.25 crore project, awarded via a Letter of Acceptance dated October 10, 2024, involved the development of 20-meter-wide and above roads, construction of major and minor structures such as flyovers, minor bridges, VUPs, and PUPs, along with allied electrical works in TPS-10 and TPS-11 regions under the NAINA scheme. Advertisement However, as per a communication from CIDCO dated June 5, 2025, Ashoka Buildcon has been instructed to halt all project-related activities. This directive follows a ruling by the Hon'ble High Court of Bombay, which quashed the financial bid that led to the contract award. Ashoka Buildcon has stated that the material and financial impact of the halt will be evaluated and disclosed in due course. No contract execution had taken place as of the date of the notice.
Mint
4 days ago
- Business
- Mint
Ashoka Buildcon share price jumps over 5% after securing ₹1,387 crore traffic management project in Maharashtra
Ashoka Buildcon share price surged by more than 5% during Friday's trading session following the announcement that the company, along with its subsidiary Ashoka Purestudy Technologies Private Limited (APTPL), had received Letters of Intent (LOIs) from the Maharashtra Motor Vehicles Department on Thursday. This agreement involves the design, implementation, operation, and maintenance of an Intelligent Traffic Management System in various regions. The project, which will last for 10 years, encompasses Nagpur, Mumbai, Pune, Marathwada, and Konkan & Western Maharashtra, with an estimated total value of ₹ 1,387.19 crore. The estimated project costs according to the RFP, including GST, are as follows: Nagpur – ₹ 179.97 crore; Mumbai – ₹ 291.49 crore; Pune – ₹ 285.23 crore; Nagpur – ₹ 179.97 crore; Mumbai – ₹ 291.49 crore; Pune – ₹ 285.23 crore; Konkan & Western Maharashtra – ₹ 315.54 crore; and Marathwada – ₹ 314.96 crore. The final amount will be determined once the work order is officially issued. Konkan & Western Maharashtra – ₹ 315.54 crore. Ashoka Buildcon announced its fourth-quarter earnings on May 23, revealing a remarkable 73.2% increase in net profit, which reached ₹ 432.2 crore, up from ₹ 249.6 crore in the same quarter last year. The company reported a revenue of ₹ 2,694.4 crore for Q4, marking an 11.7% growth compared to ₹ 3,052 crore in the same period of the previous financial year. This strong performance highlights the company's successful operations and growth trajectory, as per experts. Ashoka Buildcon share price today opened at ₹ 229.85 apiece on the BSE, the stock touched an intraday high of ₹ 230.70 per share, and an intraday low of ₹ 223.65 apiece. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Ashoka Buildcon share price have seen a gap up opening, but are currently placed at 200DMSA, further positive momentum would be seen once this key average above 230 that could push prices towards 250 , on the flip side, 210 is immediate support.
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Business Standard
4 days ago
- Business
- Business Standard
Ashoka Buildcon share jumps 5% on securing this deal; key details here
Ashoka Buildcon share price: Ashoka Buildcon share price was buzzing in trade in an overall subdued market, with the scrip rising up to 5.39 per cent to an intraday high of ₹230.70 per share, on Friday, June 6, 2025. At 9:27 AM, Ashoka Buildcon share was trading 3.13 per cent higher at ₹225.75 per share. In comparison, BSE Sensex was trading flat with a negative bias at 81,373.16 levels. Why did Ashoka Buildcon share price rise today? Ashoka Buildcon share price rose after the company announced that it, along with its subsidiary, has bagged letter of intent (LoI) worth ₹1,387.2 crore from the Motor Vehicles Department, Maharashtra In an exchange filing, the company said, 'Ashoka Buildcon informs that the Company and Ashoka Purestudy Technologies Private Limited (APTPL), a subsidiary of the Company, had jointly submitted bids for various projects to the Motors Vehicles Department, Maharashtra. This is to inform that Company has received Letters of Intent (LOIs) for the Circles including Nagpur; Mumbai; Pune; Marathwada; and Konkan and Western Maharashtra.' According to the order details, Ashoka Buildcon and its subsidiary have been entrusted with a comprehensive, long-term project to boost traffic management infrastructure across multiple regions in Maharashtra. As part of the contract, they will be responsible for the design, implementation, integration, operation, and maintenance of an Intelligent Traffic Management System (ITMS) across various road stretches in the Nagpur Circle for a period of 10 years. In addition to these urban regions, Ashoka Buildcon will design, implement, operate, and maintain ITMS on various blackspots and vulnerable locations in the Konkan and Western Maharashtra Circle for 10 years. A parallel scope of work will be undertaken for blackspots and critical points in the Marathwada Circle, ensuring improved road safety and traffic regulation over the same 10-year period. The project implementation period is 15 months from the date of signing of the contract and Operation & maintenance period is 10 years from the Go Live date, the company highlighted. About Ashoka Buildcon Ashoka Buildcon Limited, a Fortune India 500 company, is one of the foremost highway developers in the country, known for its strong presence in the infrastructure and construction space. Since its inception in 1976, the company has grown into a diversified and integrated player, operating across EPC (Engineering, Procurement, and Construction), BOT (Build, Operate, Transfer), and HAM (Hybrid Annuity Model) segments. The company's core business spans Highways & Bridges, Power (EPC), Railway Projects, Buildings (EPC), City Gas Distribution, and Smart Infrastructure. Ashoka Buildcon is also engaged in the production and sale of Ready Mix Concrete (RMC). With a portfolio of 41 PPP projects either completed or under execution, it has established a major footprint across more than 20 Indian states, positioning itself as a key contributor to India's infrastructure growth.
Time of India
29-05-2025
- Business
- Time of India
Buy Ashoka Buildcon, target price Rs 273: HDFC Securities
HDFC Securities has maintained its buy call on Ashoka Buildcon with a revised target price of Rs 273. The current market price of Ashoka Buildcon is Rs 216.2. Ashoka Buildcon, incorporated in 1993, is a Mid Cap company with a market cap of Rs 5973.79 crore, operating in Infrastructure sector. Ashoka Buildcon's key products/revenue segments include Income From Construction Work, Ready Mix Concrete, Other Operating Revenue, Scrap and Land for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2755.42 crore, up 13.56% from last quarter Total Income of Rs 2426.36 crore and down -12.19% from last year same quarter Total Income of Rs 3137.88 crore. The company has reported net profit after tax of Rs 451.22 crore in the latest quarter. The company's top management includes Katariya, Hiran, Nazareth, Panchal, Katariya, Parakh, Londhe, Kataria, Mehta, Hiran, Nazareth, Mehta, Kataria, Parakh, Londhe, Kataria, Mehta, Hiran, Nazareth, Panchal, Katariya, Parakh, Londhe, Panchal. Company has SRBC & Co LLP as its auditors. As on 31-03-2025, the company has a total of 28 crore shares outstanding. Investment Rationale Ashoka Buildcon's revenue/EBITDA/APAT came in at Rs 19.7/1.4/0.6bn, a (miss)/beat of -19.3/-35.3/-39.6% vs. HDFC Securities' estimates. EBITDA margin: 7.3% (-19/-186bps YoY/QoQ) was lower than the estimate of 9%, owing to weak margins in legacy projects. ASBL has guided for 10% revenue growth YoY in FY26 and expects to record higher EBITDA margins of 10-11% during that year on the back of new order execution. The OB as of Mar?25 stood at Rs 149 billion (~2.1x FY25 revenue), while the Order Inflow (OI) stood at Rs 95 billion. Further, ASBL guided for OI of Rs 100-120 billon for FY26, while participating in bids worth INR 1.1trn. Business-wise, the revenue is well diversified with HAM (roads)/EPC (roads) /power T&D/railways/EPC (buildings) and others comprising 12.5/58.3/2.8/2.11/24.3%. Additionally, ASBL has already invested Rs 11.1 billion in the HAM portfolio; the balance equity requirement in its existing NHAI HAM assets is Rs 3.7 billion as of Mar?25. Given the stable OB, improving visibility on asset monetisation, and margin expansion on the back of new order execution, the brokerage maintains BUY. However, they have tweaked the SOTP to Rs 273/share (11x Mar-27E EPS) basis lower than expected execution and factoring in 1.4x P/BV for HAM assets. Promoter/FII Holdings Promoters held 54.48 per cent stake in the company as of 31-Mar-2025, while FIIs owned 7.48 per cent, DIIs 14.93 per cent.
Economic Times
29-05-2025
- Business
- Economic Times
Buy Ashoka Buildcon, target price Rs 273: HDFC Securities
HDFC Securities has maintained its buy call on Ashoka Buildcon with a revised target price of Rs 273. The current market price of Ashoka Buildcon is Rs 216.2. Ashoka Buildcon, incorporated in 1993, is a Mid Cap company with a market cap of Rs 5973.79 crore, operating in Infrastructure sector. ADVERTISEMENT Ashoka Buildcon's key products/revenue segments include Income From Construction Work, Ready Mix Concrete, Other Operating Revenue, Scrap and Land for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2755.42 crore, up 13.56% from last quarter Total Income of Rs 2426.36 crore and down -12.19% from last year same quarter Total Income of Rs 3137.88 crore. The company has reported net profit after tax of Rs 451.22 crore in the latest quarter. The company's top management includes Katariya, Hiran, Nazareth, Panchal, Katariya, Parakh, Londhe, Kataria, Mehta, Hiran, Nazareth, Mehta, Kataria, Parakh, Londhe, Kataria, Mehta, Hiran, Nazareth, Panchal, Katariya, Parakh, Londhe, Panchal. Company has SRBC & Co LLP as its auditors. As on 31-03-2025, the company has a total of 28 crore shares outstanding. Investment Rationale ADVERTISEMENT Ashoka Buildcon's revenue/EBITDA/APAT came in at Rs 19.7/1.4/0.6bn, a (miss)/beat of -19.3/-35.3/-39.6% vs. HDFC Securities' estimates. EBITDA margin: 7.3% (-19/-186bps YoY/QoQ) was lower than the estimate of 9%, owing to weak margins in legacy projects. ASBL has guided for 10% revenue growth YoY in FY26 and expects to record higher EBITDA margins of 10-11% during that year on the back of new order execution. The OB as of Mar?25 stood at Rs 149 billion (~2.1x FY25 revenue), while the Order Inflow (OI) stood at Rs 95 billion. Further, ASBL guided for OI of Rs 100-120 billon for FY26, while participating in bids worth INR 1.1trn. Business-wise, the revenue is well diversified with HAM (roads)/EPC (roads) /power T&D/railways/EPC (buildings) and others comprising 12.5/58.3/2.8/2.11/24.3%. Additionally, ASBL has already invested Rs 11.1 billion in the HAM portfolio; the balance equity requirement in its existing NHAI HAM assets is Rs 3.7 billion as of Mar?25. Given the stable OB, improving visibility on asset monetisation, and margin expansion on the back of new order execution, the brokerage maintains BUY. However, they have tweaked the SOTP to Rs 273/share (11x Mar-27E EPS) basis lower than expected execution and factoring in 1.4x P/BV for HAM assets. Promoter/FII Holdings Promoters held 54.48 per cent stake in the company as of 31-Mar-2025, while FIIs owned 7.48 per cent, DIIs 14.93 per cent. (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
