Published On:January 14 2022
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Ashoka Buildcon gains on emerging lowest bidder for road project.

Ashoka Buildcon rose 1.01% to Rs. 105.50 after the company said it has emerged as the lowest bidder (L-1) for a road contruction project in Karnataka.

Ashoka Buildcon had submitted its bid to the National Highways Authority of India (NHAI) for a road contruction project in Karnataka. The projects entails construction of six laning from Belgaum to Sankeshwar bypass in Karnataka on engineering, procurement & construction (EPC) mode under Bharatmala Pariyojana.

The company has emerged as the lowest bidder (L-1) and the quoted bid price of the project is Rs. 829.49 crore.

Ashoka Buildcon is engaged in the construction & maintenance of roads and supporting services to land support-operation of toll roads.

The company's consolidated net profit rose 9.12% to Rs. 79.94 crore on a 6.35% increase in net sales to Rs. 1,264.87 crore in Q2 FY22 over Q2 FY21.

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