Macquarie-Ashoka bags Rs 9,700 crore order

Its order wins galore for Ashoka Buildcon as Macquarie-Ashoka bag toll-operate-transfer (TOT) projects for Rs 9,700 crore. The company has also emerged as the lowest bidder for a hybrid-annuity model project worth Rs 860 crore. In an interview with CNBC-TV18, Satish Parakh, MD of Ashoka Buildcon spoke about the latest happenings in his company and sector.

This TOT is first of its kind and Macquarie has bid for this project and Ashoka is operations and maintenance (O&M) partner in this project. So our part will be engineering, procurement and construction (EPC) to the tune of Rs 1,025 crore in first two years and we are likely to get O&M for the next 30 years, he said.

Another hybrid-annuity model project is Rs 860 crore project to be completed in two years’ time. Margin from project in partnership with Macquarie will be at 12-13 percent, he added.

Have significant number of projects lined up for the next two quarters, said Parakh.