Shares of Ashoka Buildcon Ltd rallied 6.2% and hit a 52-week high of Rs 284.74 on 6 September after the subsidiary of the company sold a land parcel in Hinjewadi, Pune, for Rs 453 crore. 

In its regulatory filing, the company said, “This is to inform that Ashoka Buildcon Limited has been apprised by Viva Highways Limited (VHL), a wholly owned subsidiary, that the land owned by it under its Real Estate Portfolio, situated at Hinjewadi, Pune, has been monetised at a total consideration of Rs 453 crore.”

As of 31 March 2024, the company’s order book stood at Rs 11,697 crore, according to its annual report. 

This includes Rs 6,214 crore in roads and railway projects, making up 53% of the total. Within this, Hybrid Annuity Model (HAM) road projects account for Rs 911 crore, and EPC road projects for Rs 4,426 crore. 

Railways-related orders totaled Rs 877 crore. Additionally, power transmission and distribution (T&D) projects were valued at Rs 4,796 crore, comprising 41% of the order book.

In a different filing, the company said, “We wish to inform you that the 31st Annual General Meeting (AGM) of the Members of Ashoka Buildcon Limited is scheduled to be held on Friday, 27 September, 2024, at 12.30 PM.”

In the last year, the shares of the company have provided a multi-bagger return of 138.8%. 

However, at 2:58 pm, the shares of Ashoka Buildcon shed all their early gains and were trading 0.24% lower at Rs 266.80 on NSE. 

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