Ashoka Buildcon Ltd receives provisional certificate for NHAI project

Ashoka Buildcon Limited ("the Company") has announced the declaration of October 31, 2023 as the Commercial Operation Date (CoD) for stretch of 1.28 KMs vide letter issued by Independent Engineer on March 08, 2024, in addition to stretch of 37.92 KMs already received w.e.f. November 19, 2022 (First CoD), for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India ("NHAI") for the Project viz. "designing, engineering, building, financing, procurement, construction, development, commissioning, operation, maintenance, of the Project viz. Four laning of NH-161 from Kandi (Design Km 0.000) (Km 498.250 of NH-65) to Ramsanpalle (Design Km 39.980/Existing Km 44.757) (Design Length = 39.980 Km) in the State of Telangana under Bharatmala Pariyojna on Hybrid Annuity Mode ("Project")

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

The Company also announces that the said SPV has received a Provisional Certificate for completion of 39.20 KMs in aggregate, out of total Project stretch of 39.980 KMs.

Consequent upon the declaration of CoD, the SPV is eligible for receipt of an additional Annuity from NHAI for the operation period of 15 years at the interval of 6 months.

Shares of Ashoka Buildcon Limited was last trading in BSE at Rs. 163.90 as compared to the previous close of Rs. 168.40. The total number of shares traded during the day was 272769 in over 7827 trades.

The stock hit an intraday high of Rs. 170.90 and intraday low of 162.40. The net turnover during the day was Rs. 45058939.00.

Source : Equity Bulls

Keywords

AshokaBuildcon INE442H01029 NHAI HAMproject CommercialOperationDate ProvisionalCertificate