Sharekhan has given Buy recommendation for Ashoka Buildcon with a target price of Rs. 125 in its research report issued on Feb 08, 2021

Sharekhan’s research report on Ashoka Buildcon

Q3FY2021 standalone revenues were lower than estimated, led by delayed receipt of appointed dates for few projects while OPM too lagged expectations. Expect execution to improve from Q4FY2021. Management retained FY2021 standalone revenue guidance and raised it for FY2022. OPM guidance lowered. Asset monetisation is in final stages and is likely to be completed by Q4 and receive the funds by Q2FY2022. Aid in de-leveraging and freeing up equity capital.


We retain a Buy on Ashoka Buildcon Limited (Ashoka) with a revised price target of Rs. 125, considering a healthy order backlog, comfortable liquidity and improving industry outlook.

For all recommendations report, click here