Ashoka Buildcon JV emerges lowest bidder for construction, maintenance project

Ashoka Buildcon on Friday announced that its joint venture (JV) bid emerged as the lowest (L-1) for construction and maintenance of Rajiv Gandhi Fintech Digital Institute in Jodhpur.

The company had submitted its bid in JV with Cube Construction Engineering to Department of Information Technology & Communication, Government of Rajasthan (Authority) for the project viz. 'request for proposal for selection of agency for construction and maintenance of Rajiv Gandhi Fintech Digital Institute, Jodhpur' (project).

The JV has emerged as the lowest bidder and the awarded bid project cost for the project is Rs 611 crore. The share of Ashoka Buildcon in JV is 65%. The construction period is 18 months from commencement date, the company stated.

Ashoka Buildcon is engaged in the construction & maintenance of roads and supporting services to land support-operation of toll roads.

The company's consolidated net profit rose 58.59% to Rs 225.93 crore on a 12.78% increase in sales to Rs 1,957.29 crore in Q4 FY22 over Q4 FY21.

Shares of Ashoka Buildcon shed 0.68% to close at Rs 72.65 on Friday, 1 July 2022.

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