Ashoka buildcon share price: Ashoka Buildcon stock soars over 4% after bagging LoAs worth Rs 1,727 cr
Source: Business Standard
Ashoka Buildcon shares surged as much as 4.3 per cent at Rs 247 a piece on the BSE. This came after Ashoka Buildcon received Letters of Award (LoA) from the Mumbai Metropolitan Region Development Authority MMRDA for two significant projects on Wednesday.
The first project involves a Request for Proposal for the design and construction of a creek bridge from Kolshet to Kalhar, valued at Rs. 288.18 crore plus GST. The second project is a Request for Proposal for the design and construction of a creek bridge from Gaimukh to Payegaon, valued at Rs. 975.58 crore plus GST.
Click here to connect with us on WhatsApp
In addition to these projects, the company has also secured a LoA for the design and construction of an elevated road from Kalyan Murbad Road (Palms Water Resort) to Badlapur Road (Jagdish Dugdhalaya). This elevated road will connect to Pune Link Road and cross over the Karjat Kasara Railway line, including a slip road, with a total value of Rs. 474.10 crore plus GST.
Financial pulse Q1
Ashoka Buildcon reported a 148 per cent increase in its Q1FY25 standalone net profit, reaching Rs 40.80 crore compared to Rs 16.40 crore in the same quarter last year. Total income grew by 22 per cent year-on-year to Rs 1,900.80 crore, up from Rs 1,557.20 crore in the comparable period. Additionally, the Ebitda margin improved by 150 basis points to 7.6 per cent, up from 6.1 per cent.
The company has a total market capitalization of Rs 6,817.36 crore. Its shares are trading at price to earnings valuation of 14.23 times, while having an earning per share of Rs 16.64.
At 12:24 PM, the stock price of the company was up 2.7 per cent to Rs 243.15 a piece on the BSE. By comparison, the BSE’s Sensex was down 1.62 per cent at 82,904.85
level.
First Published: Oct 03 2024 | 12:35 PM IST
