Dilip Buildcon receives provisional completion certificate for Jharkhand-based road project

Dilip Buildcon said that the project involving six laning of Gorhar to Khairatunda section of the NH-2 has been provisionally completed and the authority has issued Provisional Completion Certificate for the same.

The project had been declared as fit for entry into commercial operation as on 16 October 2021, the company said.

The Jharkhand-based project was awarded under Phase-V of the National Highways Development Project (NHDP) on hybrid annuity mode. The bid cost of the said project was Rs 917 crore.

Separately, Dilip Buildcon said that its subsidiary Dhrol Bhadra Highways has received the letter of appointed date from the National Highways Authority of India and had declared the appointed date with effect from 28 October 2021.

Appointed date is the de facto starting date of a project, when the NHAI hands over its contract letter to a developer or concessionaire.

The appointed date is for a Gujarat-based project, which involved four laning of Dhrol - Bhadra Patiya section and Bhadra Patiya - Pipaliya section of NH-151A. The project was to be built through Public Private Partnership (PPP) on design, build, operate and transfer (the DBOT Annuity or Hybrid Annuity) basis. The bid cost of the said project was Rs 882 crore.

Dilip Buildcon is one of the leading full-service infrastructure company with construction capabilities in roads & bridges, mining, water sanitation, sewage and dams with a presence in over 19 states.

The company's consolidated net profit declined 41.1% to Rs 29.74 crore on a 16.1% rise in net sales to Rs 2,438.27 crore in Q1 FY22 over Q1 FY21.

The scrip fell 1.25% to currently trade at Rs 636 on the BSE.

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