Dilip Buildcon incorporates SPV for road project in Karnataka

The civil construction company said it has incorporated a special purpose vehicle (SPV) company, Maradgi S Andola-Baswantpur Highways, as its wholly owned subsidiary on 28 December 2022.

The SPV has been set up for the 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 in Karnataka.

The company said its bid project cost stood at Rs 1,589 crore and construction period of the project is 30 months and operation period is 15 years from commercial operation date (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.

The scrip declined 0.71% to Rs 217.65 on the BSE.

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