Construction engineering company Ashoka Buildcon Ltd on Monday (March 10) said it has secured a Letter of Acceptance (LOA) from Maharashtra State Electricity Transmission Co Limited (MSETCL) for a turnkey project valued at ₹311.92 crore, including GST.”Ashoka Buildcon Limited (the Company) informs that the Company had submitted a bid for the following Project to Maharashtra State Electricity Transmission Co. Limited. Further to apprise that the Company has received a Letter of Acceptance for the said Project. The accepted Bid Price for the Project is Rs 311.92 Crore, including. GST,” according to a stock exchange filing.
The contract involves the establishment of a 400/220 KV substation at Nandgaon Peth in the Amravati district, along with associated transmission lines under the Amravati Zone. The scope of work includes supply, erection, testing, commissioning, etc., and civil construction. The project is set to be completed within 18 calendar months, excluding the monsoon period.
Also Read: Ashoka Buildcon gets NHAI green light for ₹1,391-crore project in West BengalFor the third quarter, Ashoka Buildcon’s profit before tax surged 62.4% year-on-year to ₹306.7 crore, despite a drop in revenue. The profit growth was driven by improved operational efficiencies and higher margins.
The contract involves the establishment of a 400/220 KV substation at Nandgaon Peth in the Amravati district, along with associated transmission lines under the Amravati Zone. The scope of work includes supply, erection, testing, commissioning, etc., and civil construction. The project is set to be completed within 18 calendar months, excluding the monsoon period.
Also Read: Ashoka Buildcon gets NHAI green light for ₹1,391-crore project in West BengalFor the third quarter, Ashoka Buildcon’s profit before tax surged 62.4% year-on-year to ₹306.7 crore, despite a drop in revenue. The profit growth was driven by improved operational efficiencies and higher margins.
The company’s revenue for the quarter stood at ₹2,387.9 crore, reflecting a 10.1% decline from ₹2,657.1 crore in the same period last year. However, EBITDA rose 7% YoY to ₹638 crore, up from ₹597 crore, indicating improved cost management.
Margin saw a significant expansion to 26.8% compared to 22.5% in Q3 FY24, highlighting better execution and project efficiencies. Shares of Ashoka Buildcon Ltd ended at ₹178.95, down by ₹10.30, or 5.44%, on the BSE.
Also Read: Ashoka Buildcon and unit to sell 11 SPVs for ₹2,324 crore
First Published: Mar 10, 2025 7:04 pm IS
