Ashoka Buildcon's Land Sale Sends Shares Soaring to 52-Week High
Ashoka Buildcon's subsidiary, Viva Highways Limited, sells land in Hinjewadi, Pune for Rs 453 crore, boosting shares to a 52-week high.
Ashoka BuildconReal EstateInfrastructureStocksNseReal Estate PuneSep 06, 2024
In its regulatory filing, Ashoka Buildcon Limited informed that the land owned by VHL under its Real Estate Portfolio, situated at Hinjewadi, Pune, has been monetized at a total consideration of Rs 453 crore.
As of March 31, 2024, the company's order book stood at Rs 11,697 crore, according to its annual report. This includes Rs 6,214 crore in roads and railway projects, making up 53% of the total. Within this, Hybrid Annuity Model (HAM) road projects account for Rs 911 crore, and EPC road projects for Rs 4,426 crore.
Railways-related orders totaled Rs 877 crore. Additionally, power transmission and distribution (T&D) projects were valued at Rs 4,796 crore, comprising 41% of the order book.
In a separate filing, the company announced that its 31st Annual General Meeting (AGM) is scheduled to be held on September 27, 2024, at 12 30 PM.
In the last year, the shares of Ashoka Buildcon have provided a multi-bagger return of 138.8%. However, at 2 58 pm, the shares shed all their early gains and were trading 0.24% lower at Rs 266.80 on NSE.
Ashoka Buildcon is a leading Indian infrastructure company that provides engineering, procurement, and construction (EPC) services for roads, railways, power transmission, and distribution projects.
Frequently Asked Questions
What is the name of the subsidiary that sold the land parcel in Hinjewadi, Pune?
Viva Highways Limited (VHL)
What is the total consideration for the sale of the land parcel?
Rs 453 crore
What is the company's order book value as of March 31, 2024?
Rs 11,697 crore
What is the percentage of roads and railway projects in the company's order book?
53%
When is the company's 31st Annual General Meeting (AGM) scheduled to be held?
September 27, 2024
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