Dilip Buildcon gains on receiving LoAs from NHAI

Dilip Buildcon rallied 3.64% to Rs 237.55 after the company said it has received letter of acceptance from the National Highways Authority of lndia (NHAI) for new hybrid annuity model projects in the state of Karnataka, Chhattisgarh and Telangana.

The scope of Karnataka project involves development of 6 lane access controlled Greenfield Highway from Maradgi Andola to Baswantpur section of NH150C (Package III of Akkalkot KNT/TS Border) under Bharatmala Pariyojna. The company said its bid project cost is Rs 1,589 crore and construction period of the project is 30 months and operation period is 15 years from commercial operation date (COD).

The subsequent project entails 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. The bid project cost is Rs 1,955 crore. The project is to be completed in 30 months. The period of operations is 15 years from COD.

The Telangana project comprises four laning of Karimnagar Warangal section of NH-563 at Manakondur bypass in Palvelpula near Hanarnkonda under Bharatmala Pariyorana. The bid project cost is 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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