Ashoka Buildcon Wins ₹311.92 Crore Power Project in Maharashtra

11 Mar 2025 , 11:23 PM

Ashoka Buildcon Ltd. has received a Letter Of Acceptance (LOA) from the Maharashtra State Electricity Transmission Co Limited (MSETCL) for a turnkey project of ₹311.92 crore, including GST.

The company had bid for the project, and on receiving an LOA from MSETCL, has been selected for execution. The work includes a 400/220 KV sub-station at Nandgaon Peth, Amravati district and allotment of transmission lines associated with it under the Amravati zone.

This includes supply, erection, testing, commissioning, and civil works for a smooth power transmission infrastructure. A construction duration of 18 calendar months is foreseen from the date of award of work excluding the monsoon period to facilitate uninterrupted work execution.

Despite fall in revenue, profit before tax of Ashoka Buildcon jumped 62.4% YoY to ₹306.7 crore in Q3 FY24. Operational efficiencies, coupled with enhanced project margins, powered profit growth and underpinned stronger financial performance. In the quarter, revenue was ₹2,387.9 crore, a 10.1% drop when compared with ₹2,657.1 crore in the year-ago period. Despite the revenue decline, EBITDA grew 7% YoY to ₹638 crore against ₹597 crore, thanks to good cost management strategies. EBITDA margin expanded significantly to 26.8%, Vs 22.5% in Q3 FY24, reflecting better execution efficiency and improved profitability.