ASP.NET runs faster. ASP.NET Development is faster.
Buy fast computer, and enjoy it if you do serious business web applications
ASP.NET code executes a lot faster compared to PHP, when it's builded in Release mode, optimized, cached etc etc. But, for websites (except big players, like Facebook), it's less important - the most time of page rendering time is accessing and querying database.
In connecting database ASP.NET is a lot better - in asp.net we typically use LINQ which translates our object queries into stored procedures in SQL server database. Also connection to database is persistent, one for one website, there is no need for reconnecting.
PHP, in comparison, can't hold sql server connection between request, it connect, grab data from db and destroys, when reconnecting the database is often 20-30% of page rendering time.
Also whole web application config is reloaded in php on each request, where in asp.net it persist in memory. It can be easily seen in big, enterprise frameworks like symfony/symfony2, a lot of rendering time is symfony internal processess, where asp.net loads it's once and don't waste your server for useless work.
ASP.NET can holds object in cache in application memory - in php you have to write it to files, or use hack like memcache. using memcache is a lot of working with concurrency and hazard problems (storing cache in files also have it's own problems with concurrency - every request start new thread of apache server and many request can work on one time - you have to think about concurrency between those threads, it take a lot of development time and not always work because php don't have any mutex mechanisms in language, so you can't make critical section by any way).
now something about development speed:
ASP.NET have two main frameworks designed for it (Webforms and MVC), installed with environment, where in PHP you must get a open-source framework. There is no standard framework in php like in asp.NET.
ASP.NET language is so rich, standard library has solutions for very much common problems, where PHP standard library is ... naked... they can't keep one naming convention.
.NET has types, where PHP is dynamic, so it means no control about source code until you run it or write unit tests.
.NET has great IDE where PHP IDE's are average or average-good (PHPStorm is still a lot worse than VS+resharper or even without it)
PHP scaffolding in symfony is fired from command line when ASP.NET scaffolding is integrated into environment.
If you have slow computer like my (one core 2,2ghz), developing asp.net pages can be painfull because you have to recompile your project on any change of source code, where PHP code refresh immediately.
PHP language syntax is so unfinished, unsolid and naked compared to C# syntax.
Strong types in C# and many flexible language features can speed up your development and make your code less buggy.