Ashoka Buildcon Ltd receives provisional certificate for NHAI project

Ashoka Buildcon Ltd ('the Company') has announced the declaration of March 31, 2020 as the Commercial Operation Date (CoD) for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India ('NHAI') on May 28, 2020, for the Project viz. 4/6 laning of Kharar to Ludhiana section of NH-95 (new NH-05) from Kharar km. 10+185 (design chainage) to Samrala Chowk, Ludhiana km. 86+199 (design chainage) in the State of Punjab on Hybrid Annuity mode ('Project').

The Project is executed by Ashoka Kharar Ludhiana Road Ltd, (SPV) a Wholly Owned Subsidiary of Ashoka Concessions Ltd, a Subsidiary of the Co.

Consequent to the declaration of CoD, the SPV is eligible for receipt of Annuity payments from NHAI within 6 months from the date of achievement of CoD i.e.6 months from March 31, 2020.

The Co. also announces that the said SPV has received a Provisional Completion Certificate for completion of 69.599 KMs out of total Project highway Length of 76.014 KMs.

Shares of ASHOKA BUILDCON LTD. was last trading in BSE at Rs.49.3 as compared to the previous close of Rs. 51.95. The total number of shares traded during the day was 38824 in over 490 trades.

The stock hit an intraday high of Rs. 53.35 and intraday low of 48.7. The net turnover during the day was Rs. 1962015.

Source : Equity Bulls

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