Ashoka Buildcon said that it has received a letter of acceptance (LOA) from the Guyanan government for a road project worth $106 million.
The company had submitted its bid to the Government of the Co-operative Republic of Guyana (the authority) and it has received a letter of acceptance (LOA) from the authority for the project viz. 'request for proposal for procurement of Phase-1: East Bank-East Coast Road Linkage Project (Ogle to Haags Bosch, Eccles)' (Project).
The accepted bid project cost for the project is $106,383,954.52. The construction period is 730 days from the commencement date.
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.
The scrip rose 0.41% to currently trade at Rs 86.45 on the BSE.
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