Dilip Buildcon gets LoA for two highway projects in Andhra Pradesh

Dilip Buildcon said that it has received letter of acceptance (LoA) for two projects in Andhra Pradesh worth Rs 1,373.6 crore from National highway Authority of India (NHAI).

The first project entails development of 24.30 Km six-Lane access controlled greenfield highway (package-I) from Kodur to Vanavol on hybrid annuity mode. The bid cost of the project is Rs 599.50 crore. The project is expected to be completed within 24 months and operation period is 15 years from commercial operation date (COD).

The second project calls for development of 24.30 Km six lane greenfield highway (Package - 4) from Odulapalle to Nallacheruvu-palli on hybrid annuity mode. The bid cost of the project is Rs 774.10 crore. The project is expected to be complete within 24 months and operation period is 15 years from commercial operation date (COD).

Dilip Buildcon is presently in the business of development of infrastructure facilities on engineering procurement and construction basis (EPC) and undertakes contract from various Government and other parties and special purpose vehicles promoted by the company.

The company reported consolidated net profit of Rs 17.01 crore in Q2 FY23 compared with net loss of Rs 444.48 crore in Q2 FY22. Net sales rose 17% year on year to Rs 2,595.79 crore in Q2 FY23.

The scrip declined 1.89% to Rs 209.80 on the BSE.

Powered by Capital Market - Live News