Ashoka Buildcon Secures ₹568.86 Crore Railway Project, Shares Surge

Shares of infrastructure giant

Buildcon Ltd. witnessed a significant upswing today, climbing by 4%, following the announcement of a new project win from Central Railway. The company disclosed that it has received a Letter of Acceptance (LoA) for an Engineering, Procurement, and Construction (EPC) contract valued at ₹568.86 crore. According to a press release issued by Ashoka Buildcon, the project encompasses crucial infrastructure development work related to the gauge conversion of the Pachora-Jamner railway line, spanning approximately 53.3 kilometers. The scope of work includes the construction of earthwork, major and minor bridges, railway under bridges (RUBs), permanent way (P. way) work, and various miscellaneous civil works. Notably, the project excludes work within the Pachora Yard and the construction of Road Over Bridges. This latest win further bolsters Ashoka Buildcon's order book and reinforces its strong presence in the railway infrastructure sector. The company has been actively securing projects across various segments, including power transmission. Just last month, on March 10th, Ashoka Buildcon announced receiving an LoA from the Maharashtra State Electricity Transmission Co. (MSETCL) for a project worth ₹311.92 crore.