Ashoka Buildcon set to win Rs. 760 crore electrification project
The stock of Ashoka Buildcon was buzzing on Thursday as the company managed to emerge as the lowest bidder for two project worth Rs. 759.84 crores in Uttar Pradesh.
The company had submitted bids to Dakshinanchal Vidyut Vitran Nigam Limited. (DVVNL) under the prime minister's Soubhagya Yojana for rural electrification. The project is divided into clusters. The company emerged as L1 Bidder for two clusters. Cluster 2, which consist of electrification work in Eath and Kashiram Nagar in Kasganj district.
The project was bid for Rs. 320.92 crores. The second is Cluster 5, which consist of electrification work in Kannoj, Farrukhabad and Etawa district. The company emerged as L1 Bidder by quoting Rs. 438.92 crores.
Ashoka Buildcon had reported good Q3 results. The company's net profit rose 21.6 per cent to Rs. 51.99 crore with a 25.7 per cent growth in net sales. The company's revenues were at Rs. 658.92 crore in Q3 December 2017 as against Rs. 524.00 crore in Q3 December 2016.
On Thursday, the stock of Ashoka Buildcon was quoting at Rs. 262.50 per share, up by 1 per cent against previous closing of Rs. 259.90.