Ashoka Belgaum Khanapur Road Pvt Ltd's project declares CoD for NHAI project

Ashoka Buildcon Limited ("the Company") announces the declaration of January 13, 2023 as the Commercial Operations Date (CoD) for stretch of 4.415 KMs as per letter issued by Independent Engineer, in addition to stretch of 16.345 KMs already received w.e.f. October 25, 2021 (First CoD), for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India ("NHAI") 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.

The Company also announces that the said SPV has received a Provisional Certificate for completion of 20.76 KMs in aggregate, out of total Project stretch of 30.800 KMs.

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. 156.95 as compared to the previous close of Rs. 163.20. The total number of shares traded during the day was 135286 in over 2756 trades.

The stock hit an intraday high of Rs. 165.60 and intraday low of 156.50. The net turnover during the day was Rs. 21492542.00.

Source : Equity Bulls

Keywords

AshokaBuildcon INE442H01029 AshokaBelgaumKhanapurRoad COD