Ashoka Buildcon's Subsidiary Sells Land for Rs 453 Crore, Stock Hits Lifetime High
Ashoka Buildcon's subsidiary, Viva Highways, sells land in Hinjewadi, Pune for Rs 453 crore, leading to a surge in stock prices.
Ashoka BuildconViva HighwaysLand SaleInfrastructure DevelopmentStock MarketReal Estate PuneSep 06, 2024
The stock rallied after the company’s subsidiary, Viva Highways, sold a parcel of land in Hinjewadi, Pune. According to a filing, the land owned by Viva Highways under its Real Estate Portfolio, situated at Hinjewadi, Pune, has been monetised at a total consideration of Rs 453 crore.
The company had an order book of Rs 11,697 crore as of March 31, 2024, as per its annual report. The order book included roads and railway projects worth Rs 6,214 crore, which constitutes 53 per cent of the total order book. Among road projects, Hybrid Annuity Model (HAM) projects were to the tune of Rs 911 crore, and while engineering, procurement and construction (EPC) road projects were at Rs 4,426 crore.
Railways-related orders were around Rs 877 crore, and power transmission and distribution (T&D) projects were to the tune of Rs 4,796 crore, which together accounts for approximately 41 per cent of the company's total order book. Apart from that, the rest of the orders are accounted for by the EPC building segment, at Rs 687 crore, which is 6 per cent of the company's order book.
In another filing, Ashoka Buildcon also informed investors that its 31st Annual General Meeting (AGM) will be held on Friday, September 27, 2024, at 12.30 PM. The company's exchange filing read, \
Frequently Asked Questions
What is the name of the subsidiary that sold the land in Hinjewadi, Pune?
Viva Highways Limited
What is the total consideration for the land sale?
Rs 453 crore
What is the company's order book 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 per cent
When is the company's 31st Annual General Meeting (AGM) scheduled to be held?
Friday, September 27, 2024, at 12.30 PM
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