Brief Description of the Business:
Ashoka Buildcon Ltd. is a leading Indian company engaged in rehabilitation, upgradation, widening and strengthening of roads and highways. It has constructed 10,000+ lane kms of roads and highways. In addition, the company is also engaged in power transmission and distribution on an Engineering, Procurement, and Construction basis.
Ashoka has worked in over 18 states across the country and completed projects for the Central as well as State Governments. It is also constructing a road network for Housing Development Corporation in the Republic of Maldives.
India has one of the largest road networks across the world spanning 5.5 million km. This road network transports 64.5% of all goods in the country and is used by 90% of India’s total passenger traffic to commute. 9,829 km of national highways were constructed during FY 2018 were constructed.
The Ministry of Road Transport and Highways has fixed a target of 15,000 km projects and 10,000 km national highways in FY 2019. A total of 200,000 km national highways is expected to be completed by 2022.
Promoters 54.26%, Mutual Funds/FPIs/Banks 35.67%, Individuals/ Body Corporates 10.08%
Mr. Paresh Mehta has been working with Ashoka Buildcon Limited for around 19 years. He is currently the Chief Financial Officer and earlier served as Vice President of Finance. He looks after accounting, taxation and financial matters of the Ashoka Group as well as financial aspects of projects and resource management initiatives of it.
He is a Chartered Accountant by profession and has more than 20 years of experience in the field of accounting and finance. Before Ashok Buildcon Ltd., he has worked with Catapharma Group.