Ashoka Buildcon Ltd. has received a Letter of Award worth Rs 520 crore from the National Highways Authority of India for a project in Bihar.
The company received the contract for six-laning of a section of NH-2 from Aurangabad to the Bihar-Jharkhand border, according to an exchange filing on Wednesday.
The project will be executed under the Bharatmala programme in an engineering, procurement and construction mode, it said.
Ashoka Buildcon reported an increase in revenue and a fall in profit in the third quarter of fiscal 2024.
Ashoka Buildon Q3 Earnings FY24 (Consolidated, YoY)
Revenue at Rs 2,657.12 crore vs Rs 1,955.82 crore, up 35.85%.
Ebitda at Rs 596.98 crore vs Rs 489.6 crore, up 21.93%.
Margin at 22.46% vs 25.03%, contracts 256 bps.
Net profit at Rs 109.81 crore vs Rs 138.37 crore, down 20.64%.
Shares of Ashoka Buildcon closed 1.93% higher at Rs 193 apiece on the BSE, as compared with a 0.05% decline in the benchmark Sensex.
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