Ashoka Buildcon’s subsidiary Ashoka Concessions (ACL) has been announced as the lowest bidder for a road project in the Indian state of Telangana.

ACL submitted its bid to the National Highways of India (NHAI), quoting Rs.10bn ($139m) for the total cost of the project.

The company will four-lane a 39.98km stretch of NH-161 from Kandi to Ramsanpalle in Telangana.

Covering a total length of 430km, the NH-161 connects Telangana with its neighbouring state of Maharashtra.

The project will be built under a hybrid annuity mode (HAM), where the government offers 40% of the total project cost while the remainder is arranged by the developer.

It is part of Bharatmala Pariyojna, a Rs5.35tn ($74.6bn) centrally funded highways project undertaken by the Indian Government.

Under the Bharatmala project, the government plans to construct highways across different states in the country.

The project will focus on boosting connectivity for rural and far-off areas of the country.

ACI has secured several major highway contracts in India lately.

In February, the company secured a Rs13.82bn ($194.12m) highway contract in the Indian state of Karnataka. Under HAM, the contractor will be responsible for building a 56km highway section from Bettadahalli Shivamogga (Package IV) in Karnataka.

In April last year, ACL secured a contract for a Rs16.87bn ($237m) project from the NHAI for a section of the Vadodara-Mumbai expressway in Gujarat.

In February 2016, Ashoka Buildcon won road projects worth Rs4.02bn ($58.4m) in Jharkhand. The project included the construction and rehabilitation of the Govindpur-Tundi-Giridih road and the Dumka-Hansidha road.