Ashoka Buildcon Ltd receives Provisional Certificate for NHAI Project

Ashoka Buildcon Limited ("the Company") has announced the declaration of October 25, 2021 as the Commercial Operation Date (CoD) for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India ("NHAI") vide letter issued by Independent Engineer on March 09, 2022 for the Project viz. Six Laning of Belgaum - Khanapur Section of NH-4A from km. 00.000 to km. 30.800 in the State of Karnataka under NHDP Phase-IV on Hybrid Annuity Mode ("Project").

The Project is executed by Ashoka Belgaum Khanapur Road Private Limited, (SPV) a Wholly Owned Subsidiary of Ashoka Concessions Limited, a Subsidiary of the Company.

Consequent to the declaration of CoD, the SPV is eligible for receipt of Annuity payments from NHAI for the operation period of 15 years at the interval of every 6 months from the date of achievement of CoD.

The Company also announced that the said SPV has received a Provisional Certificate for completion of 16.345 KMs out of total Project highway Length of 30.800 KMs.

Shares of Ashoka Buildcon Limited was last trading in BSE at Rs. 90.35 as compared to the previous close of Rs. 89.75. The total number of shares traded during the day was 44109 in over 921 trades.

The stock hit an intraday high of Rs. 93.00 and intraday low of 89.80. The net turnover during the day was Rs. 4034218.00.

Source : Equity Bulls

Keywords

AshokaBuildcon INE442H01029 HAMProject COD NHAI