ASHOKA

Strong order inflows continue

1. Strong order inflows continue Ashoka Buildcon continues receiving new infrastructure project orders across: Highways Railways Power transmission Urban infrastructure The strong order book provides healthy revenue visibility for the coming years. 2. Road and highway projects remain key growth driver The company remains one of the major beneficiaries of India’s continued highway and road construction push. Government infrastructure spending continues supporting EPC sector growth. 3. Focus on HAM and BOT projects Ashoka Buildcon continues working on: Hybrid Annuity Model (HAM) projects Build-Operate-Transfer (BOT) assets Investors are closely watching asset monetisation opportunities from completed road assets. 4. Railway and power sector expansion The company is increasing focus on railway electrification, transmission and power distribution projects to diversify beyond roads. 5. Strong execution momentum Project execution has remained healthy, supporting revenue growth and operational performance. Faster execution and better working capital management remain key management priorities. 6. Debt reduction efforts continue Investors are closely tracking: Debt levels Asset monetisation plans Cash-flow improvement Successful monetisation of road assets could improve balance-sheet strength. 7. Stock performance linked to infrastructure theme The stock has remained active due to: Government capex focus Infrastructure sector momentum Strong order announcements