2 weeks Ago
Construction engineering company Ashoka Buildcon Limited on Tuesday (April 22) said it has secured a ₹568.86-crore contract from Central Railway for a gauge conversion project between Pachora and Jamner in Maharashtra. The company confirmed the receipt of the letter of acceptance (LoA) for the engineering, procurement, and construction (EPC) contract.
The project involves constructing earthworks, major and minor bridges, road under-bridges (RUBs), permanent way work, and associated civil infrastructure. "This is to update that the Company has received Letter of Acceptance for the said Project from Central Railway and the Accepted Contract Value for the Project is ₹568.86 Crore, including GST," Ashoka Builcon said in a stock exchange filing.
Also Read: Ashoka Buildcon gets NHAI green light for ₹1,391-crore project in West Bengal The project covers a 53.3-km stretch, excluding the Pachora yard and any road over-bridge components. The order is to be executed over a period of 913 days.
The contract value includes goods and services tax (GST). Profitable Q3 Ashoka Buildcon reported a strong rise in profitability for Q3FY25, with profit before tax surging 62.4% year-on-year to ₹306.
7 crore, despite a drop in revenue. The profit growth was driven by improved operational efficiencies and higher margins. The company’s revenue for the quarter stood at ₹2,387.
9 crore, reflecting a 10.1% decline from ₹2,657.1 crore in the same period last year.
However, EBITDA rose 7% YoY to ₹638 crore, up from ₹597 crore, indicating improved cost management. Also Read: Ashoka Buildcon and unit to sell 11 SPVs for ₹2,324 crore The EBITDA margin saw a significant expansion to 26.8%, compared to 22.
5% in Q3 FY24, highlighting better execution and project efficiencies. Ashoka Buildcon continues to benefit from its strong order book and expertise in infrastructure development, including road construction, bridges, and urban infrastructure projects. Shares of Ashoka Buildcon Ltd ended at ₹198, up by ₹1.
10, or 0.56%, on the BSE..
