Ashoka Buildcon receives COD for HAM project

Ashoka Buildcon Limited ("the Company") has received the declaration of March 31 2022 as the Commercial Operation Date (COD) for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India ("NHAl") vide letter issued by Independent Engineer on March 31, 2022 for the Project viz. 'Eight Lane Vadodara Kim Expressway from Km 279.00 to Km 292.00 (Ankleshwar to Manubar Section of Vadodara Mumbai Expressway) in the State of Gujarat under NHDP Phase - VI on Hybrid Annuity Mode (Phase IA-Package IV)' ("Project").

The Project is executed by Ashoka Ankleshwar Manubar Expressway Private Limited (SPy), a Wholly Owned Subsidiary of Ashoka Concessions Limited, a Subsidiary of the Company.

Consequent upon the declaration of CoD, the SPy 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 announces that the said SPy has received a Provisional Certificate for completion of 11.25 KMs out of total Project stretch of 13.00 KMs.

Shares of Ashoka Buildcon Limited was last trading in BSE at Rs. 89.35 as compared to the previous close of Rs. 85.75. The total number of shares traded during the day was 65917 in over 1051 trades.

The stock hit an intraday high of Rs. 89.90 and intraday low of 86.55. The net turnover during the day was Rs. 5829672.00.

Source : Equity Bulls

Keywords

AshokaBuildcon INE442H01029 COD NHAI HAMProject