Dilip Buildcon gains after JV signs EPC agreement with NHAI

Dilip Buildcon rose 1.36% to Rs 409.70 after the company's joint venture with the engineering firm HCC (HCC-DBL) executed an agreement with the National Highways Authority of India (NHAI) for an EPC project in Bihar.

The project involves the construction of new link in Jharkhand including Ganga Bridge and construction of Manihari bypass and widening of NH-131A from Km 5.500 (Km 34.100 of NH-131A) to Km 6.000 (Km 34.600 of NH-13 1A) in Bihar to 4 lane standards.

The bid project cost is Rs 1,900.08 crore and completion period is 48-months, the company said in a BSE filing made during market hours today.

Dilip Buildcon is engaged in the business of infrastructure facilities on engineering procurement and construction (EPC) basis. The firm undertakes contracts from various government and other parties and special purpose vehicles promoted by the company. It operates through construction and engineering contracts segment.

On a consolidated basis, Dilip Buildcon's net profit jumped 127% to Rs 190.98 crore on a 6.1% rise in net sales to Rs 2729.66 crore in Q4 March 2020 over Q4 March 2019.

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