Ashoka Buildcon Ltd receives provisional certificate for NHAI project

Ashoka Buildcon Limited ("the Company") informs the declaration of February 11, 2025 as the Commercial Operation Date (CoD) for stretch of 8.595 KMs vide letter issued by Independent Engineer on March 03, 2025, in addition to stretch of 41.61 KMs already received w.e.f. September 08, 2023, (First CoD) vide NHAI letter dated September 26, 2023, for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India ("NHAI") for the Project viz. "Four Laning of Tumkur Shivamogga Section from 66+540 (Design km 65+195) (Karadi) to km. 119+790 (Design km. 121+900) (Banwara) of NH-206 on Hybrid Annuity Mode under NHDP Phase-IV in the state of Karnataka (Package-II)" ("Project").

The Project is executed by Ashoka Karadi Banwara 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 50.205 KMs in aggregate, out of total Project stretch of 56.705 KMs.

Further to inform that consequent upon the declaration of CoD, the SPV is already 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 First CoD.

Shares of Ashoka Buildcon Limited was last trading in BSE at Rs. 170.45 as compared to the previous close of Rs. 165.70. The total number of shares traded during the day was 156625 in over 2381 trades.

The stock hit an intraday high of Rs. 175.30 and intraday low of 159.60. The net turnover during the day was Rs. 26378950.00.

Source : Equity Bulls

Keywords

AshokaBuildcon INE442H01029 AshokaKaradiBanwaraRoad AshokaConcessions ProvisionalCertificate NHAIProject