Shares of Ashoka Buildcon Limited rose over 2% in early trade after the company announced that it has received a Letter of Acceptance (LoA) for a major infrastructure project in Daman. The order has been awarded by the Public Works Department, Daman, reinforcing the company’s strong order inflow momentum in the domestic infrastructure space.
Ashoka Buildcon had submitted a bid for the construction of a proposed signature bridge connecting Jampore Sea Front Road near the Lighthouse to Devka Sea Front Road at Parkota Sheri, Daman. The company has now secured the project, with the accepted bid value fixed at Rs.307.71 crore, excluding GST.
The project will be executed under a Design, Build and Operate (DBO) model and involves the development of a landmark sea-facing bridge aimed at improving connectivity between two prominent coastal stretches of Daman. The contract has been awarded by a domestic government entity, and there is no involvement of promoters or group companies in the awarding authority, eliminating any related-party concerns.
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