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120.85
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Updated:20 May, 2019, 15:56 PM IST

BSE
120.85
Change Change %
6.60 5.78%

Updated:20 May, 2019, 16:01 PM IST

Ashoka Buildcon began its operations as a civil construction firm, Ashoka Constructions in November 5, 1983 as a partnership between Ashok M. Katariya, Ramanal B. Parakh, Sushil R. Parakh, Narendra R. Shakadwipi and Vimlabai R. Shakadwipi. They were reorganized as a company called Ashoka Buildcon Private Limited in 1993 and engaged in the business of civil construction. In fiscal 1997, they entered into the business of developing toll roads and toll bridges on a BOT basis. They became a public company on April 22, 2002 and changed the name of the company from Ashoka Buildcon Private Limited to Ashoka Buildcon Limited with effect from April 22, 2002 pursuant to a special resolution of the shareholders passed at an EGM on April 4, 2002. The fresh certificate of incorporation consequent on change of name was granted by the RoC to the company on April 22, 2002.

The company was awarded its first BOT project, the Dhule bypass in Maharashtra, in fiscal 1997 and completed the construction of the road in the same fiscal year. In fiscal 2000 they began manufacturing RMC solely for use by their EPC division. In fiscal 2002 they began to manufacture RMC to sell to third parties as well as for use by its EPC division. In fiscal 2005 they began processing bitumen to a higher grade at its facility in Pune for use in road projects. Having developed systems and procedures for collecting tolls on its BOT projects, including developing its own proprietary computerized toll revenue auditing system, they tendered for and were awarded their first contract to collect the tolls on a road owned and constructed by a third party. In fiscal 2009 they began undertaking EPC work in the power sector when they were awarded a contract by Maharashtra State Electricity Distribution Company Limited for, among other things, the construction and commissioning of sub–transmission lines, distribution lines, power transformers and new sub–stations. In September 2008 they entered into agreements for constructing and developing two shopping malls on a BOT basis. In September 2009 they began manufacturing pre–cast concrete poles. In April 2010, the Government of Maharashtra issued them a letter of allotment for developing a 1,500 KW per hour hydro electric power plant in Waghur, Maharashtra on a build, own, operate and transfer (?óÔé¼?ôBOOT?óÔé¼?Ø) basis.

They build and operate roads and bridges in India on a build, operate and transfer (?óÔé¼?ôBOT?óÔé¼?Ø) basis. They believe that they currently operate one of the highest numbers of toll–based BOT projects in India. In addition to BOT projects, they also (1) engineer and design, procure the raw materials and equipment for and construct roads, bridges, distribution transformers, electricity substations, commercial buildings, industrial buildings and institutional buildings for third parties as well as perform maintenance for third parties, (2) manufacture and sell ready–mix concrete (?óÔé¼?ôRMC?óÔé¼?Ø), bitumen and pre–cast concrete poles and (3) collect tolls on roads and bridges owned and constructed by third parties.

The head office is in Nashik, Maharashtra and its operations currently reach across the states of Maharashtra, Madhya Pradesh, Chhattisgarh, Rajasthan, Karnataka and Orissa. In the past, they have also undertaken work in Gujarat, Goa and Tamil Nadu, Uttaranchal, the National Capital Territory of Delhi and the union territories of Dadra and Nagar Haveli and Daman and Diu.

Milestones:

1995–96

  • The company completes its first major industrial project for Nilkamal Plastics Limited, Sinnar.

1997–98

  • The company starts work on the Dhule bypass project, one of the first BOT projects in Maharashtra. The company completes this project within a period of nine months.
  • The company completes the construction of one of the first few flyovers in Pune, the Kothrud flyover.
  • The company is awarded the ISO 9001:2000 certification for quality management systems.
  • The company establishes the Ashoka Training Institute to promote excellence in civil construction education and research.
  • The company is awarded the National Award for ?óÔé¼?£Most Outstanding Bridge–Excellent Aesthetic Matching Environment?óÔé¼Ôäó for Kothrud flyover, Pune and Shivna bridge from Indian Institute of Bridge Engineers.

2000

  • The company was awarded its first project aggregating approximately Rs. 1,000 million on NH–4.

2001

  • The company completes construction of East Coast road between Chennai and Pudducherry which was declared to be a model road by Government of India.
  • The company is awarded the ?óÔé¼?£NIMA Excellence Award?óÔé¼Ôäó by the Nashik Industries and Manufacturer?óÔé¼Ôäós Association.
  • The company starts its RMC business.

2003–04

  • The company completes construction of the Indore–Edalabad road, which was one of the longest roads to be constructed on a BOT basis.

2006

  • The company entered into a shareholders?óÔé¼Ôäó agreement with IDFC Infrastructure Fund 2 for issue of 1,019,617 equity shares to IDFC Infrastructure Fund 2 at a price of Rs. 980.76 per equity share.

2007

  • The company received the Certificate of Registration regarding compliance with requirements of ISO 9001: 2008 (Quality Asured Company), ISO 14001:2004 (Environmental Management System) and OHSAS 18001:2007 (Safety Assured Company). The said certificate was granted by International Standards Certifications Pvt. Ltd.

2008

  • Ashok M. Katariya received the Life Time Achievement award from the Association of Consulting Civil Engineers.

2009

  • The company received the Certificate of Verification ISO 14064:1 for maintaining greenhouse gases inventory in accordance wih GHG Policy. The said certificate was granted by International Standards Certifications Pty. Ltd.
  • Confederation of Businesses (WORLDCOB), an international organization, for the first time awarded 30 Indian companies with the world's most important business recognition, THE BIZZ AWARDS 2010, for their business excellence.

Divisions:

  • The BOT division – The company currently operates or has an interest in 23 BOT road projects totaling approximately 3,498.35 kilometers of lanes in Maharashtra, Madhya Pradesh, Chhattisgarh, Karnataka and Orissa the concessions for which were awarded on a BOT basis. The weighted average concession period (including toll collection period) for these 23 BOT road projects was 21.09 years as at March 31, 2010. In order to meet specific eligibility requirements for certain larger BOT projects, including requirements relating to particular types of experience and financial resources, they have entered into project–specific joint ventures or special purpose vehicles with other companies. 
  • The engineering, procurement and construction (EPC) division – Their EPC division primarily engineers and designs, procures the raw material and equipment for and constructs roads and bridges for their BOT division and third parties. Their EPC division also (a) maintains and repairs existing roads for their BOT division, (b) constructs and modernizes power distribution networks, comprising distribution transformers and electricity substations, for third parties and (c) constructs commercial, industrial and institutional buildings for third parties. They own a large fleet of construction equipment.
  • The RMC and bitumen division – Their RMC and bitumen division sells ready–mix concrete and bitumen and supports the EPC division by ensuring that it has an adequate and timely supply of high–quality RMC and bitumen. They have 14 RMC plants with a total production capacity of 650 cubic meters per hour and 86 concrete transit trucks and 19 concrete pumps. This division also sells and processes bitumen to a higher grade for use in road projects and supports the EPC division by supplying it with bitumen. They have one plant in Pune for the processing of bitumen with a capacity of 60 metric tonnes per day.
  • The toll collection contract division – They set up their toll collection contract division to leverage their experience of collecting tolls on their BOT projects and their proprietary computerized toll revenue auditing system. To date, they have entered into four agreements to collect tolls on roads/bridges owned and constructed by third parties, although their last contract expired in February 2007.

Subsidiaries:

1. Ashoka Highways (Bhandara) Limited

2. Ashoka Highways (Durg) Limited

3. Ashoka Infrastructure Limited

4. Ashoka Infraways Private Limited

5. Ashoka Pre–Con Private Limited

6. Ashoka Technologies Private Limited

7. Ashoka–DSC Katni Bypass Road Private Limited

8. Viva Highways Private Limited

Associate Companies:

1. Jayaswals Ashoka Infrastructure Private Limited2. Viva Infrastructure Private Limited

Awards and Recognitions:

1997

  • Awarded the ?óÔé¼?£CM Shah Concrete Technology Award?óÔé¼Ôäó by Institution of Engineers, India, Pune Local Centre.
  • Awarded the National Award for ?óÔé¼?£Most Outstanding Bridge–Excellent Aesthetic Matching Environment for Kothrud flyover, Pune and Shivna bridge from Indian Institute of Bridge Engineers.

1998

  • The quality management systems of the company were ISO 9001:2000 certified by International Standards Certifications Pty Limited.
  • Awarded the ?óÔé¼?£Director?óÔé¼Ôäós Work of World Class Quality Award?óÔé¼Ôäó for the project executed for Proctor and Gamble in Goa.

2001

  • Awarded the ?óÔé¼?£National Award ?óÔé¼ÔÇ£Most Outstanding Bridge?óÔé¼Ôäó for construction of Bhor bridge.
  • Awarded the NIMA Excellence Award by the Nashik Industries and Manufacturer?óÔé¼Ôäós Association.

2007

  • Awarded a certificate of involvement by the United States Environment Programme to Ashoka Group for the contribution by Ashoka Group to the 2007 Billion Tree Campaign.
  • Awarded a certificate of registration ?óÔé¼?£Environmental Management System 14001:2004; ISO 9001:2004; ISO 18001:2007?óÔé¼Ôäó from International Standards Certifications Pty. Ltd. for complying with requirements of the International Standard.

2008

  • Awarded a certificate of excellence in productivity, quality, innovation and management by the Institute of Economic Studies, New Delhi.

2010

  • Awarded the CIDC Vishwakarma Award 2010 by the Construction Industry Development Council for the category of the professionally managed company with the turnover of more than Rs 500 crore.
  • Awarded the recognition of ?óÔé¼?ôInspirational Company?óÔé¼?Ø with all its rights and privileges by the World Confederation of Businesses.

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