Ashoka Buildcon has emerged as the lowest bidder (L-1) for a National Highway Authority of India project, with a bid value of Rs 16.68 billion.

The project is “Request for a proposal for the construction of a six-lane elevated corridor along with the development of an existing four-lane highway at ground level from Aroor to Thuravoor Thekku section of NH-66 (length 12,752 km) under Bharatmala Pariyojana in Kerala on EPC mode”.

Ashoka Buildcon is engaged in the construction of infrastructure facilities on an engineering, procurement and construction (EPC) and construction, operation and transfer (BOT) basis and the sale of ready-mixed concrete.

The company's consolidated net profit fell 20.4% to Rs 636.60 million on a 42.9% increase in net sales to Rs 18.07 billion in Q2 FY23 against Q2 FY22.