The project involves establishing the Sakoli substation in Maharashtra’s Bhandara district and was awarded through the tariff-based competitive bidding (TBCB) route, according to an exchange filing by Ashoka Buildcon on Thursday, August 13.
Under the terms of the award, Ashoka Buildcon is required to provide a performance bank guarantee of ₹16.70 crore within 10 days of the LoI being issued.
The project is scheduled to be completed within 24 months, followed by an operations and maintenance period of 35 years.
Annual transmission charges for the project are ₹126.54 crore, which would be payable during the 35-year operations and maintenance period.
Ashoka Buildcon Q1 FY27 result
The latest order comes after Ashoka Buildcon reported a weaker first quarter.
Consolidated total income fell 21% year-on-year to ₹1,534 crore for the quarter ended June 30 from ₹1,937 crore a year earlier.
Consolidated EBITDA declined 55% to ₹292 crore, with the EBITDA margin at 19%. Consolidated profit after tax stood at ₹127 crore.Ashoka Buildcon’s order book stood at ₹15,251 crore as of June 30, excluding ₹450 crore of orders received after the end of the quarter.
The company has lowered its FY27 EBITDA margin guidance to 9%-9.5% from its earlier expectation of a double-digit margin.
Ashoka Buildcon has also said it plans to enter two to three additional countries as part of its international expansion strategy.
Shares of Ashoka Buildcon ended 1.29% lower at ₹112.43 on the NSE on Thursday.
Also Read: GIC Re Q1 profit falls 31% as underwriting losses more than double
