Dilip Buildcon rises after an order win

Dilip Buildcon spurted 3.74% to Rs 419 after the company said it received a Rs 2122.74 crore order from Northern Coalfield.

DBL has been awarded overburden removal contract mining work for Nigahi Project at Singrauli District in Madhya Pradesh by the Northern Coalfield (NCL), a subsidiary of Coal India. NCL issued Letter of Award (LOA) on 18 November 2019. The company said the order was valued at Rs 2,122.74 crore and the contract period was 1,552 days. The announcement was made during trading hours today, 19 November 2019.

In a separate announcement during trading hours today, 19 November 2019, DBL announced that the project 'four laning of Tuljapur - Ausa (Including Tuljapur Bypass) section of National Highway (NH)-361 under NHDP Phase-IV in Maharashtra on hybrid annuity mode has been provisionally completed. The provisional completion certificate has been issued by the authority and has declared the project fit for entry into operation as on 18 November 2019 and completed 184 days prior to the schedule completion date of the said project.

On consolidated basis, company's net profit declined 56.9% to Rs 25.87 crore on a 15.4% rise in net sales to Rs 1994.40 crore in Q2 September 2019 over Q2 September 2018.

Meanwhile, the NSE Nifty 50 index was trading 31.65 points higher at 11,916.15.

Dilip Buildcon is engaged in the business of infrastructure facilities on engineering, procurement and construction (EPC) basis. The firm undertakes contracts from various government and other parties and special purpose vehicles promoted by the company.

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