Ashoka Buildcon stock jumped 4% in early trade after the company, along with its subsidiary Ashoka Purestudy Technologies Private Limited (APTPL), received confirmation for multiple Intelligent Traffic Management System (ITMS) contracts from the Maharashtra Motor Vehicles Department. As of 9:15 AM, the shares were trading at 4.14% higter at Rs 227.82.
The awarded projects span key regions including Mumbai, Pune, Nagpur, Konkan & Western Maharashtra, and Marathwada. These initiatives aim to improve traffic monitoring, road safety, and enforcement through advanced technological systems. Each project includes the design, implementation, integration, operation, and maintenance of ITMS solutions and will run for 10 years post a 15-month implementation phase.
The total contract value, inclusive of GST, exceeds ₹1,387 crore. Region-wise, Nagpur is allocated around ₹179 crore, while the Konkan & Western Maharashtra and Marathwada regions will see investments close to ₹315 crore each.
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