Dilip Buildcon gets completion certificate for Karnataka project

Dilip Buildcon said that it has received provisional completion certificate for a road project in Karnataka.

The scope of project included 'Six- Laning of Nidagatta-Mysore Section from km 74.200 to km 135.304 of NH-275 in the State of Karnataka to be executed on Hybrid Annuity Mode'. The cost of the project is Rs 2,283.50 crore.

The provisional completion certificate has been issued by the authority and had declared the project fit for entry into commercial operation with effect from 9 March 2023.

Dilip Buildcon is presently in the business of development of infrastructure facilities on engineering procurement and construction basis (EPC) and undertakes contract from various Government and other parties and special purpose vehicles promoted by the company.

The company reported a standalone net profit of Rs 79.52 crore in Q3 FY23 as against a net loss of Rs 96.66 crore posted in Q3 FY22. Revenue from operations rose 8.2% year on year to Rs 2,378.78 crore in the quarter ended 31 December 2022.

The scrip was down 0.95% to Rs 192.65 on the BSE.

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