Ashoka Buildcon announced that the company has received Letter of Acceptance (LOA) from NHAI for construction project worth Rs 1,668.50 crore.

The company emerged as the lowest bidder (L-1) for a project floated by National Highway Authority of India (NHAI), the bid value of which is Rs 1,668.50 crore.

The company had submitted a bid to for a project viz. 'Request for proposal for construction of 6 lane elevated corridor along with development of existing 4 lane road at ground level from Aroor to Thuravoor Thekku section of NH - 66 (Length 12.752 Km) under Bharatmala Pariyojana in the State of Kerala on EPC mode'.

Ashoka Buildcon is presently engaged in the business of construction of infrastructure facilities on engineering, procurement and construction basis (EPC) and built, operate and transfer (BOT) basis and sale of ready mix concrete.

The company's consolidated net profit declined 20.4% to Rs 63.66 crore on 42.9% increase in net sales to Rs 1,807 crore in Q2 FY23 over Q2 FY22.