Ashoka Buildcon Limited announced today the completion of a significant highway project in Telangana. The company received a completion certificate from the National Highways Authority of India (NHAI) for its Hybrid Annuity Mode (HAM) project.
The shares of Ashoka Buildcon Limited were trading at ₹239.10, up by 1.80 points (0.76%) on NSE at 12:55 on Friday.
The project, executed by Ashoka Kandi Ramsanpalle Road Private Limited, a wholly-owned subsidiary, involved the four-laning of NH-161 from Kandi to Ramsanpalle, spanning 39.980 kilometres.
The completion certificate, issued by an independent engineer on August 8, 2024, covers the entire project stretch. As a result, the subsidiary will now receive annuity payments for the whole of the 39.980 kilometres.
This development follows the company’s previous announcements regarding the project’s progress on January 16, 2023, and March 9, 2024.