Ashoka Buildcon Emerges as Lowest Bidder for Two Mumbai Projects
Shares of construction engineering company Ashoka Buildcon saw a significant increase of 2.83% in an otherwise weak market. With an intraday high of Rs 259.50 per share, the rise in share price followed the company’s announcement that it had emerged as the lowest bidder L-1 for two projects from the Mumbai Metropolitan Region Development Authority (MMRDA).
The Projects:)
In a recent statement filed with the stock exchange, Ashoka Buildcon revealed that it had submitted bids for two projects with the MMRDA and successfully emerged as the lowest bidder for both. These projects fall under the category of Engineering, Procurement, and Construction (EPC) work.
The first of the two projects requires Ashoka Buildcon to design and construct the Creek Bridge connecting Kolshet to Kalher, while the second project entails the design and construction of the Creek Bridge between Gaimukh and Payega. The completion timeline for both projects is set at 36 months, which includes the monsoon period.
Ashoka Buildcon: A Leading Infrastructure Development Company
Ashoka Buildcon Ltd specializes in construction and infrastructure development. Operating on an EPC (Engineering, Procurement, and Construction) and BOT (Build, Operate, Transfer) basis, the company has also ventured into the production and sale of Ready Mix Concrete (RMC). Ranked as a Fortune India 500 company, Ashoka Buildcon holds a prominent position in India’s highway development sector, serving as an integrated entity across EPC, BOT, and HAM (Hybrid Annuity Model) projects.
The company operates across various segments, including Highways & Bridges, Power EPC, Railway Works, Buildings EPC, City Gas Distribution, and Smart Infrastructure. With a substantial portfolio that includes the execution or ongoing management of 41 Public-Private Partnership (PPP) projects, Ashoka Buildcon has a strong presence in over 20 states across India.
Notable Achievements:
Ashoka Buildcon boasts several notable achievements in the field of construction. Some of these significant milestones include the construction of one of India’s longest 6-lane flyovers in Kerala, stretching over 12.752 km. The company also holds the distinction of completing India’s first 8-lane Extradosed Cable Stayed Bridge in a record time of just 33 months. Another noteworthy accomplishment is the construction of the Bundelkhand Expressway.
With its expertise and vast experience, Ashoka Buildcon continues to make strides in the infrastructure development and construction sector, progressively shaping India’s transportation landscape. The company’s engagement in leading projects in collaboration with renowned authorities like the MMRDA strengthens its position as a premier construction engineering company in the country.
