Ashoka Buildcon Limited — Updates, 12-11-2024: Press Release

Ashoka Buildcon Limited reported a revenue growth of 7% year-on-year for the first half of FY25, reaching ₹3,359.7 crore, with a notable order backlog of ₹11,104 crore as of September 30, 2024. However, Q2 FY25 witnessed a dip in total income at ₹1,458.9 crore, down 8% compared to the previous year, while EBITDA decreased 7% to ₹160.5 crore. The profit before tax declined 32% to ₹64.9 crore, and profit after tax fell 49% to ₹36.3 crore.

The company is taking strategic steps by acquiring a 34% stake in Ashoka Concessions Limited from various investors for ₹1,526 crore and 26% of Viva Highways Limited for ₹150 crore. Recent orders received post-September also amount to ₹4,320 crore. Key project elections include significant contracts from CIDCO worth ₹1,673.24 crore and completion certificates for upcoming projects, with positive implications for future cash flow. Investors should watch closely for growth opportunities stemming from these developments, despite the recent financial setbacks.