Ashoka Buildcon Share Price registered impressive 5 percent jump as the company emerged as the lowest bidder for CIDCO project worth Rs 1667 crore. The stock opened the trading session at Rs 240 and touched intraday high of Rs 252.4 after the news. The price declined to Rs 242 at the time of publication of this story but we can expect the stock to perform better in the coming sessions as well. The stock is close to its 52-week high of Rs 284.

Ashoka Buildcon, a prominent player in India's infrastructure sector, witnessed rally in the stock after the company's announcement that its joint venture (JV) had emerged as the lowest bidder for a significant project worth ₹1,667.78 crore from the City & Industrial Development Corporation of Maharashtra Limited (CIDCO). The project focuses on integrated infrastructure development under Maharashtra’s NAINA project. This win reinforces Ashoka Buildcon’s status as a leader in infrastructure development, with expertise across sectors like highways, bridges, and smart infrastructure projects.

Ashoka Buildcon Share Price Rises Amid New Project Win

Shares surge by over 5% following project announcement
On October 10, 2024, Ashoka Buildcon shares rose by 5.27%, reaching an intraday high of ₹252.40. The share price rally was directly linked to the company's announcement of winning a substantial project from CIDCO, valued at ₹1,667.78 crore. This development sparked strong investor interest, driving the stock price upward.

Ashoka Buildcon JV Declared Lowest Bidder for ₹1,667.78 Crore Project

Joint venture bid secures major infrastructure project
Ashoka Buildcon's joint venture (JV) has been declared the lowest bidder (L1) for a project from CIDCO, valued at ₹1,667.78 crore, excluding GST. The company made this announcement in a formal exchange filing, stating its leadership role in the JV. This project win marks another significant milestone for Ashoka Buildcon in its infrastructure portfolio.

Scope of the NAINA Project

Infrastructure development includes major road and bridge construction
The NAINA project, awarded by CIDCO, focuses on the development of integrated infrastructure, including the construction of 20-meter-wide roads, flyovers, bridges, and allied electrical works. Ashoka Buildcon's JV will also be responsible for constructing minor structures like vehicular underpasses (VUPS) and pedestrian underpasses (PUPS), in addition to installing street lighting across the project areas.

Timeline for Project Completion

Execution scheduled within 1,460 days
Under the terms of the contract, Ashoka Buildcon's JV is expected to complete the infrastructure development project within 1,460 days from the commencement date. This timeline reflects the complexity and scale of the project, which spans TPS-10 and TPS-11 under the NAINA initiative.

Ashoka Buildcon’s Proven Expertise in Infrastructure Development

Leading player in India's EPC and BOT sectors
Ashoka Buildcon has solidified its position as a Fortune India 500 company with a strong presence in infrastructure development. The firm specializes in Engineering, Procurement, and Construction (EPC) and Build, Operate, Transfer (BOT) projects. Additionally, it is involved in producing Ready Mix Concrete (RMC), further enhancing its capabilities in large-scale construction projects.

Diverse Portfolio and National Footprint

Extensive experience across PPP, EPC, and HAM projects
With a diversified portfolio spanning highways, bridges, power, railways, and city gas distribution, Ashoka Buildcon has executed or is currently managing 41 Public-Private Partnership (PPP) projects. Its operations cover more than 20 states across India, making it one of the country's leading infrastructure developers. The company’s involvement in Smart Infrastructure projects further underscores its role in shaping modern urban landscapes.