Ashoka Buildcon Ltd, along with its subsidiary Ashoka Purestudy Technologies Private Limited (APTPL), has received Letters of Intent (LoIs) from the Maharashtra Motor Vehicles Department for the design, implementation, operation, and maintenance of an Intelligent Traffic Management System (ITMS) across five regional zones in the state.
The project involves deploying ITMS solutions across specific stretches and high-risk spots in the Nagpur, Mumbai, Pune, Marathwada, and Konkan & Western Maharashtra circles. The implementation period is set at 15 months from the date of signing the contract, while the operation and maintenance period extends for 10 years from the Go Live date.
The nature of the contract includes design, integration, implementation, and long-term management of the ITMS infrastructure across the selected regions.
The estimated cost of the project, including GST, based on the Request for Proposal (RFP), is as follows:
The exact contract value will be finalised after the official work order is issued.
The Maharashtra Motor Vehicles Department, a domestic public entity, awarded the project. Ashoka Buildcon and APTPL had jointly submitted the bid. There is no related-party transaction involved, and neither the promoter nor group companies have any interest in the awarding entity.
Ashoka Buildcon reported a 73.2% year-on-year increase in net profit for Q4 FY25, reaching ₹432.2 crore compared to ₹249.6 crore in the same quarter last year. Revenue stood at ₹2,694.4 crore, showing a 11.7% decline from ₹3,052 crore in the corresponding period last year.
Read more: Ashoka Buildcon Q4FY25 Results: Revenue and EBITDA Recorded Double-Digit Growth!
As of 09:20 AM on June 6, 2025, Ashoka Buildcon share price was trading at ₹227.16, a 3.83% increase, with a 20.74% decline over the past 6 months and a 17.95% increase over the past year.
Ashoka Buildcon will handle traffic system upgrades across 5 regions in Maharashtra over the next decade. The final contract value will be confirmed once work orders are issued.
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Published on: Jun 6, 2025, 10:08 AM IST
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