Ashoka Buildcon share price jumps over 5% after securing ₹1,387 crore traffic management project in Maharashtra

Ashoka Buildcon share price surged by more than 5% during Friday's trading session following the announcement that the company, along with its subsidiary Ashoka Purestudy Technologies Private Limited (APTPL), had received Letters of Intent (LOIs) from the Maharashtra Motor Vehicles Department on Thursday.

This agreement involves the design, implementation, operation, and maintenance of an Intelligent Traffic Management System in various regions.

The project, which will last for 10 years, encompasses Nagpur, Mumbai, Pune, Marathwada, and Konkan & Western Maharashtra, with an estimated total value of ₹1,387.19 crore.

The estimated project costs according to the RFP, including GST, are as follows: Nagpur – ₹179.97 crore; Mumbai – ₹291.49 crore; Pune – ₹285.23 crore; Nagpur – ₹179.97 crore; Mumbai – ₹291.49 crore; Pune – ₹285.23 crore; Konkan & Western Maharashtra – ₹315.54 crore; and Marathwada – ₹314.96 crore.

The final amount will be determined once the work order is officially issued. Konkan & Western Maharashtra – ₹315.54 crore.

Q4 Results

Ashoka Buildcon announced its fourth-quarter earnings on May 23, revealing a remarkable 73.2% increase in net profit, which reached ₹432.2 crore, up from ₹249.6 crore in the same quarter last year. The company reported a revenue of ₹2,694.4 crore for Q4, marking an 11.7% growth compared to ₹3,052 crore in the same period of the previous financial year. This strong performance highlights the company’s successful operations and growth trajectory, as per experts.

Ashoka Buildcon share price today

Ashoka Buildcon share price today opened at ₹229.85 apiece on the BSE, the stock touched an intraday high of ₹230.70 per share, and an intraday low of ₹223.65 apiece.

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Ashoka Buildcon share price have seen a gap up opening, but are currently placed at 200DMSA, further positive momentum would be seen once this key average above 230 that could push prices towards 250 , on the flip side, 210 is immediate support.

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