Ashoka Buildcon emerges as lowest bidder for Mumbai Metropolitan Region Development Authority project worth ₹478 crore

The work involves the design and construction of elevated road from Kalyan-Murbad road to Badlapur road and Pune link road. The quoted bid price for the project stood at ₹478 crore plus applicable GST and the work has to be completed within 36 months.

Meanwhile, during the first quarter of fiscal year 2025, the firm reported a 22% year-on-year (YoY) rise in its standalone total revenue at ₹1,900.80 crore. Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 52% YoY to ₹145.10 crore while EBITDA margin improved to 7.6% compared to 6.1% in the same period last year.

Net profit rose 148% YoY to ₹40.8 crore during the quarter. The company’s consolidated debt stood at ₹7,183 crore while debt on a standalone basis stood at ₹1,410 crore, comprising ₹114 crore of equipment/term loans and ₹1,296 crore of working capital loans.

The firm’s build-operate-transfer (BOT) division recorded a toll collection of ₹322 crore in Q1FY25, registering a growth of 4.8% YoY.

During the quarter, the company received a completion certificate with effect from April 02, 2024 for its hybrid annuity mode (HAM) project of National Highways Authority of India for the eight lane Vadodara Kim expressway.

It also received the completion certificate with effect from January 31, 2024 for its HAM project of NHAI for the design, engineering, building, financing, procurement, construction, development, commissioning, operation, maintenance, of the four-laning of NH-161 from Kandi to Ramsanpalle in Telangana.

Ashoka Buildcon also emerged as the lowest bidder for two projects of Maharashtra State Road Development Corporation in June 2024 and another two projects of Mumbai Metropolitan Region Development Authority (MMRDA) in August 2024.

Shares of the firm have gained nearly 73% since the beginning of the year. The stock has risen over 136$ in the last one year.