Ashoka Buildcon receives LoA from CIDCO and MSRDCL for projects worth ₹3,983 crore

The company’s joint venture, where Ashoka Buildcon is the lead member, received a letter of acceptance (LoA) from CIDCO for a project worth ₹1,673 crore. The project is for the integrated infrastructure development of 20-meter and above roads. Additionally, it entails the construction of various major and minor structures such as flyovers, minor bridges, VUPS, and PUPS. The project also calls for allied electrical works in TPS-10 and TPS-11 under the NAINA Project.

The project will be undertaken in an Engineering, Procurement, and Construction (EPC) mode and is expected to be completed within 1,460 days.

Ashoka Buildcon also received a LoA from MSRDCL for a project worth ₹1,999 crore. The project is for the construction of a major bridge across the Jaigad Creek and Kundalika Creek. The project is on the coastal highway in the Ratnagiri District in Maharashtra. The accepted bid price for the two projects is ₹715.99 crore and ₹1,284 crore, respectively. The projects are expected to be completed within 36 months.

Further, the company secured an additional project for the construction of a major bridge across the Bankot Creek in the Ratnagiri district. The project is worth ₹310 crore and is expected to be completed within 36 months.

Last week, the company also announced that it was declared as the lowest bidder for a project from the Brihanmumbai Municipal Corporation (BMC). The project was for the construction of two flyover arms at the T Junction on the Sion-Panvel Highway in Maharashtra. The quoted bid price for the project is ₹918 crore.

Shares of the company have risen by nearly 96% since the beginning of the year. The stock has gained over 97% in the past year.