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 (“BOOT”) basis.
They build and operate roads and bridges in India on a build, operate and transfer (“BOT”) 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 (“RMC”), 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.
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
1. Jayaswals Ashoka Infrastructure Private Limited2. Viva Infrastructure Private Limited
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