Dilip Buildcon jumps on turning L-1 bidder for MP project

Dilip Buildcon rose 2.97% to Rs 222.20 after the company said that its joint venture (JV) company with Skyway Infraprojects has been declared the lowest bidder for a Rs 1,947-crore project in Madhya Pradesh.

"Dilip Buildcon Limited through Dilip Buildcon Limited - Skyway Infraprojects Pvt. Ltd has been declared as L-1 bidder for the tender floated by Madhya Pradesh Jal Nigam Maryadit, Bhopal (M.P), order worth Rs. 1947.06 crore," the infrastructure company said in a regulatory filing.

The project involves "engineering, procurement, construction, testing commissioning, trial run and operation and maintenance of various components of Rewa Bansagar MVS district Rewa in single package on turnkey job basis." The contract completion period is 24 months.

Also, its subsidiary Raipur-Visakhapatnam-CG-2 Highways has received the appointed date letter from the National Highways Authority of India and had declared the appointed date as 9 January 2023.

Dilip Buildcon is one of the leading full-service infrastructure company with construction capabilities in roads & bridges, mining, water sanitation, sewage, dams, irrigation, industrial, commercial and residential buildings with a presence in over 19 states & 1 union territory.

The company reported a standalone net profit of Rs 64.15 crore in Q2 FY23 as against a net loss of Rs 19.31 crore in Q2 FY22. Revenue from operations rose 4.91% year on year to Rs 2,261.93 crore in the quarter ended 30 September 2022.

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