Dilip Buildcon adds 3% on bagging contract for Rajkot's greenfield airport

Earlier, on October 30, the company informed the exchanges that NHAI has fixed October 24 as the appointment date for its wholly-owned subsidiary for construction of a highway under Bharatmala

Dilip Buildcon gained 2.8 per cent to Rs 444.5 in the morning deals on the BSE on Friday after the company bagged contract to construct new greenfield airport in Gujarat.

"The company has been declared L-1 bidder by the Airport Authority of lndia for construction of new Greenfield Airport at Hirasar, Rajkot, Gujarat," the company said in a regulatory filing. The project has to be completed in 30 months. READ FILING HERE

The Cabinet on February 28 had approved the development of a new greenfield airport at Rajkot. The airport will be 28 kilometres from Rajkot, will be built in an area of 1,025.54 hectares (of which 96.48 per cent would be government land), and is expected to see air traffic of 5-10 percent, according to AAI.

Earlier, on October 30, the company informed the exchanges that National Highways Authority of India (NHAI) has fixed October 24 as the appointment date for DBL Bellary Byrapura Highways Private Limited, its wholly-owned subsidiary, for construction of Bellary to Byrapura section on NH-150A under Hybrid Annuity Mode (HAM) under the Centre's flagship Bharatrnala programme. The project costs Rs 1,313.9 crore and will be built in two years.

Furthermore, the company was declared as L-1 bidder by the U.P Expressways Industrial Development Authority for two projects viz. 'Development of Bundelkhand Expressway Project (Package-VI) from Bakhariya to Kudrail, and Gorakhpur Link Expressway Project (Package II) from Fulwariya to Salarpur in Uttar Pradesh on EPC model.

At 10:15 am, the company was trading 1.6 per cent higher at Rs 430.5 per share, as against a 0.08 rise in the benchmark S&P BSE Sensex. Over one lakh shares have changed on the NSE and BSE till the time of writing of this report. In the past one week, the stock has outperformed the Sensex by rallying 6.3 per cent. In comparison, the benchmark index gained 2.8 per cent during the period.