Ashoka Buildcon Limited has received a Letter of Acceptance for a significant project from Maharashtra State Electricity Transmission Co. Ltd. (MSETCL), valued at ₹3.12 billion, including GST. However, recent reports indicate that Ashoka Buildcon has secured a ₹312 crore substation project in Amravati, Maharashtra, which might be part of a larger infrastructure development plan.
The company emerged as the lowest bidder for the 400/220 kV substation project, which includes associated transmission lines within the Amravati Zone. This EPC project is set to be completed in 18 months, excluding the monsoon season. Ashoka Buildcon's success in securing such projects underscores its strong position in India's infrastructure sector, with a focus on enhancing power transmission capabilities.
The company's stock has shown positive movement following these announcements, reflecting investor confidence in its growth trajectory.
Source: Based on reports from NDTV Profit, Bajaj Broking, and CNBC TV18