Dilip Buildcon gains on emerging as L-1 bidder for Rs 1400-cr project

Dilip Buildcon rose 2.92% to Rs 207.65 after the company said it was declared as the lowest bidder for 'Gandhisagar-2 Multi-Village Water Supply Scheme' in Madhya Pradesh.

The tender was floated by the Madhya Pradesh Jal Nigam Maryadit, Bhopal (M.P.). The project entails engineering, procurement, construction, testing, commissioning, trial run and operation & maintenance of various components of Gandhisagar-2 multi-village scheme, districts Mandsaur and Neemuch in single package on 'turn-key job basis' including trial run and operation & maintenance of the entire water supply scheme for 10 years in the state of Madhya Pradesh"

The awarded bid project cost for the project is Rs 1400 crore. The estimated completion period is 28 months.

Separately, Dilip Buildcon said its wholly-owned subsidiary, Bangarupalem Gudipala Highways received the financial closure letter from the National Highways Authority of India for a road project. The project entails construction of 4 lane Bangalore-Chennai Expressway from Km 127.000 [Bangarupalem) to Km 156.000 (Gudipala) Section in Andhra Pradesh under Bharatmala on Hybrid Annuity Mode (Phase III Package III).

The project cost is Rs 1,060 crore. The project is to be completed in 24 months. The period of operations is 15 years from commercial operations date.

Dilip Buildcon is a full-service infrastructure company with construction capabilities in roads & bridges, mining, water sanitation, sewage and dams with a presence in over 19 states.

The company reported a consolidated net loss of Rs 55.51 crore in the quarter ended March 2022 as against net profit of Rs 123.68 crore during the previous quarter ended March 2021. Sales declined 15% YoY to Rs 2,663.70 crore in Q4 FY22.

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