Ashoka Buildcon Secures LOA for ₹1,391 Crore NHAI Project.

Ashoka Buildcon Limited has secured a Letter of Award (LOA) for a ₹1,391 crore Hybrid Annuity Mode (HAM) road project in West Bengal from the National Highways Authority of India (NHAI). The project involves developing a four-lane economic corridor from Bowaichandi to Guskara-Katwa Road Section (Km 89.814 to Km 133.000) on NH 116A.

The company was declared the lowest bidder (L-1) for this project on November 18, 2024, as part of a bidding process for two HAM road projects in West Bengal. The second project, which involves the development of a four-lane corridor from Kharagpur to Chandrakona Ghatal Road Crossing (Km 0.000 to Km 41.000) on NH 116A, was quoted at ₹1,400 crore, excluding GST. Ashoka Buildcon has not yet received an LOA for the second project.

Both projects are expected to be completed within 910 days, including the monsoon period.

As of September 30, 2024, Ashoka Buildcon’s total order book stood at ₹11,104 crore, with HAM road projects accounting for 7.6% of this total.

In its financial performance for Q2 FY25, the company reported a total income of ₹1,458.9 crore, a decline of 8% year-on-year (YoY). Its earnings before interest, taxes, depreciation, and amortization (EBITDA) also dropped 7% YoY to ₹160.5 crore.

BS