Ashoka Buildcon stock rises almost 6% after securing a ₹1,387 crore traffic management contract in Maharashtra.

Shares of Ashoka Buildcon Ltd surged by 5.5% on Friday, June 6, following the announcement that the company, along with its subsidiary Ashoka Purestudy Technologies Private Limited (APTPL), received Letters of Intent (LOIs) from the Maharashtra Motor Vehicles Department the day prior.

The contract focuses on the design, implementation, operation, and maintenance of an Intelligent Traffic Management System across various regions.

The project, which spans a decade, encompasses Nagpur, Mumbai, Pune, Marathwada, and Konkan & Western Maharashtra, with an estimated total worth of ₹1,387.19 crore.
Investment breakdown by region

• Nagpur – ₹179.97 crore
• Mumbai – ₹291.49 crore
• Pune – ₹285.23 crore
• Konkan & Western Maharashtra – ₹315.54 crore
• Marathwada – ₹314.96 crore

The precise value will be confirmed once the work order is officially issued.

Q4 Financial Results

Ashoka Buildcon Ltd announced its fourth-quarter results on Friday, May 23, revealing a 73.2% increase in net profit to ₹432.2 crore, up from ₹249.6 crore the previous year. The company’s revenue for Q4 was ₹2,694.4 crore, marking an 11.7% increase from ₹3,052 crore in the same period last financial year.

Shares of Ashoka Buildcon rose nearly 5.5%, reaching an intraday high of ₹230.80 per share shortly after the market opened on Friday, June 6.

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