Dilip Buildcon gains on incorporating 3 SPVs

Dilip Buildcon rose 1.20% to Rs 219.55 after the company said it has incorporated three new special purpose vehicle (SPV) companies, as its wholly owned subsidiaries on 30 December 2022.

The first SPV, Urga - Pathalgaon Highways has been set up for construction of four lane Urga Palhalgaon section of NH-130A from Bhaisma village to Taruama village under Bharatmala Pariyojana (Raipur - Dhanbad Economic Conidor) in the state of Chhattisgarh on Hytlrid Annuity Mode (HAM). The bid project cost stood at Rs 1,955 crore. The project is to be completed in 30 months. The period of operations is 15 years from commercial operation date (COD).

The subsequent SPV, Mehgama-Hansdlha Highways has been incorporated for four laning Mehgama-Hansdila section of NH-133 in Jharkhand on HAM. The company said its bid project cost was at Rs 976 crore and construction period of the project is 24 months and operation period is 15 years from COD.

The third SPV, Karimnagar-Warangal Highways has been formed for four laning of Karimnagar Warangal section of NH-563 at Manakondur bypass in Palvelpula near Hanarnkonda in Telagana on HAM under Bharatmala Pariyorana. The bid project cost stood at Rs 1,647 crore and construction period of the project is 24 months and operation period is 15 years from COD.

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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