Ashoka Buildcon Share Price Soars After ₹1,055 Crore Order Win from Bengaluru Airport.
Ashoka Buildcon share price rises nearly 4% as it wins Rs 1,055 Crore order from Bengaluru airport
One of India’s major companies developing several infrastructures in the country, Ashoka Buildcon, made sure its stock surged by over 4% last Friday as news that the Bengaluru International Airport had handed over a much bigger order worth Rs 1,055 crore surfaced. The deal gave a welcome news for all the shareholders of the firm.
Ashoka Buildcon Share Price Soars:
The share price of Ashoka Buildcon increased by 4.44% at the National Stock Exchange (NSE). The stock closed at ₹250. On the Bombay Stock Exchange (BSE), it went up by 4.24% and settled at ₹249.6. The order win was the positivity expressed by market capitalization for the company that stood at ₹7,018.08 crore.
In last week, the shares of Ashoka Buildcon have rallied up to 7.48% while its stock went up a good 79.15 percent in the calendar so far which shows confidence by the investors about the performance.
Bengaluru International Airport Secures ₹1,055 Crore Contract Ashoka Buildcon has emerged as the winner of an EPC contract worth ₹1,055 crore from Bengaluru International Airport. The project comprises elevated western crossfield taxiways, apron, along with associated works like taxiway systems, pavement, drainage works, ancillary buildings among other infrastructure facilities.
The order will be completed within 24 months. The order further strengthens the company’s position with a strong portfolio of infrastructure projects across India. The Ashoka Buildcon’s win at Bengaluru International Airport is a significant order, which means large-scale project handling capabilities and provides strength to its airport infrastructure business.
Growth of Recent Financial Performance:
Ashoka Buildcon has also done good financial performance and hence increased investor confidence. The company’s consolidated profit after tax for the quarter ended September 2024 has grown by 334.27% to ₹462.5 crore compared with ₹106.5 crore PAT for the corresponding period of the previous year.
Consolidated revenue from operation stood at ₹2,489 crores, an increase of 15.5% yoy. EBITDA had a high rise of 65.8% to ₹905.3 crores. Margins at the EBITDA stage reflected marked improvements and stood at 36.4%, as against 25.3% in Q2 FY24, thus showing strong improvements in operational efficiency.
Ashoka Buildcon: Infrastructure’s Biggest Developer
Ashoka Buildcon is a group that boasts more than 28 years of rich experience in the infrastructure building industry. Gradually it had specialized in highway construction along with PPP projects. The Ashoka Buildcon has so far executed 41 PPP contracts and is present in over 20 states of India presently. The group thus is perfectly poised to derive the fruit from the infrastructure boom in India which is going without a pause now.
Conclusion:
An order worth ₹1,055 crore at Bengaluru International Airport along with excellent financial performance of the company has added positives for Ashoka Buildcon only. Having faith that growth in the company in the infrastructure space along with an enviable project execution track would appreciate the stock further, the investors seem confident. Stocks will remain the juicy proposition for the investors eyeing to make the story of infrastructure development in India their cake as Ashoka Buildcon continues to win big-ticket contracts and expand its footprint in the infrastructure space.
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