Ashoka Buildcon bags orders from NHAI worth Rs 1,389 cr

MUMBAI: Ashoka Buildcon, a leading infrastructure firm, today said it has bagged two orders from National Highways Authority of India (NHAI) collectively worth Rs 1,389 crore for road construction.

According to the orders, the company has to design, build, finance, operate and transfer (DBOFT) two projects in Karnataka and on Orissa-Chhattisgarh border respectively, it said in a statement.

The firm that currently operates one of the highest numbers of toll-based BOT projects in the country, has bagged an order worth Rs 909 crore for the construction 88-km four-lane road on NH 6 between Sambalpur-Baragarh on the Orissa-Chattisgarh border in Orissa.

It has to be executed as BOT (Toll) project on DBFO pattern under NHDP Phase III project.

The other contract comprises an order worth Rs 480 crore for a stretch of 79.36-km six-lane road on Belgaum-Dharwad section of NH-4 on DBFOT basis, it said.

Recently, the company filed its Draft Red Herring Prospectus with the SEBI for its initial public offer.