Ashoka Buildcon Limited, a Fortune India 500 company and one of the leading highway developers in India, has recently secured a significant project by emerging as the Lowest Bidder (L-1) for a major contract awarded by the Mumbai Metropolitan Region Development Authority (MMRDA). The project, valued at ₹478 crore plus applicable GST, involves the design and construction of an elevated road connecting key locations in the Mumbai region.
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Company Overview
Ashoka Buildcon Limited is a Fortune India 500 company and one of the leading highway developers in India. Established in 1976, Ashoka Buildcon has grown through its unwavering commitment to quality, safety, consistency, and environmental consciousness.
The company is listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Business Overview
Ashoka Buildcon is engaged in the construction and infrastructure industry.
The company is an integrated player in the Engineering, Procurement, and Construction (EPC), Build-Operate-Transfer (BOT), and Hybrid Annuity Model (HAM) segments.
The company is involved in various sectors, including highways and bridges, power (EPC), railway works, buildings (EPC), city gas distribution, and smart infrastructure. Additionally, Ashoka Buildcon is involved in the sale of Ready Mix Concrete (RMC). The company has executed or is executing 41 Public-Private Partnership (PPP) projects and has a presence in over 20 states in India.
What is the latest update?
Ashoka Buildcon Limited has emerged as the Lowest Bidder (L-1) for a significant project awarded by the Mumbai Metropolitan Region Development Authority (MMRDA). The project involves the design and construction of an elevated road connecting various key locations in the Mumbai region, including Kalyan-Murbad Road, Badlapur Road, and Pune Link Road. This project, valued at ₹478 crore (plus applicable GST), is an Engineering, Procurement, and Construction (EPC) contract, and is expected to be completed within 36 months, including the monsoon period. The project is awarded by a domestic entity.
Read the official notification here
Recent Financial Performance
| Metric | Quarter Ended June 2024 | Quarter Ended June 2023 | % Change |
|---|---|---|---|
| Sales (₹ Crore) | 2465 | 1935 | 27.39% |
| Net Profit (₹ Crore) | 158 | 72 | 119.44% |
- The sales increased by 27.39% from ₹1935 crore in June 2023 to ₹2465 crore in June 2024.
- The net profit saw a significant increase of 119.44%, rising from ₹72 crore in June 2023 to ₹158 crore in June 2024.
Also Read – What do you mean by Net Profit? – Explained
Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | ₹ 6,540 Cr. |
| Price to Earnings Ratio (P/E) | 13.97 |
| Industry P/E | 39 |
| Price to Book Value (P/BV) | 2.94 |
| Industry P/BV | 4.60 |
| Return on Equity (ROE) | 22.12% |
| Return on Capital Employed (ROCE) | 35.3% |
| Return on Assets (ROA) | 2.52% |
| Debt to Equity | 2.45 |
Stock Performance
| Time Period | Returns |
|---|---|
| All time | 232.29% |
| Past 5 Years | 118.47% |
| Past 1 Year | 134.5% |
| Past 1 month | -10.31% |
Shareholding Pattern
| Shareholder Category | Holding (%) |
|---|---|
| Promoters | 54.48% |
| Foreign Institutional Investors (FII) | 7.63% |
| Domestic Institutional Investors (DII) | 19.32% |
| Public | 18.56% |
The Bottom Line
In summary, Ashoka Buildcon Limited continues to solidify its position as a leading player in the infrastructure sector. The company’s recent success in securing a ₹478 crore project from the Mumbai Metropolitan Region Development Authority underscores its expertise and reputation in the industry. Furthermore, the impressive financial performance in the June 2024 quarter, with a 27.39% increase in sales and a remarkable 119.44% rise in net profit, reflects the company’s strong operational capabilities and strategic growth.
For more information, visit the official site
Disclaimer: This information is for educational purposes only and does not constitute financial advice. Always conduct your own research and consult with financial professionals before making investment decisions.