Workers are silhouetted as they work at the excavation site of a launching shaft for Metro Line 3 in Dharavi, Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Revenue Flow From New NHAI Project To Start From October: Ashoka Buildcon

Ashoka Buildcon Ltd.’s expects its latest project with the National Highways Authority of India to start generating revenue from the second half of the financial year 2020, its Managing Director Satish Parakh said.

The project, which will be completed in two years, would help the company make an internal rate of return of around 15 to 16 percent, Parakh told BloombergQuint in an interaction. The project would add on to revenues from the second half of FY20 as financial closure would take another six to seven months, he said.

The infrastructure company yesterday said it had made the lowest bid for the Tumakuru-Shivamogga highway under the Karnataka Road Project, sending its shares up by as much as 8 percent, the news portal Moneycontrol.com reported.

This project would take Asoka Buildcon’s order book size to Rs 10,500 crore, Parakh said. The company is “well-within target” to achieve the expected growth of 32-35 percent, he said.

Watch the full interaction here: