Dilip Buildcon rises on receiving LoA from NHAI for Andhra-based project

Dilip Buildcon advanced 2.32% to Rs 538 after the company announced the receipt of the letter of acceptance (LoA) from the National Highways Authority of India (NHAI) for a road project in the state of Andhra Pradesh.

In February this year, the company was declared as the lowest (L-1) bidder for the said project by NHAI.

To be done on a hybrid annuity basis, the scope of work includes construction of four-lane Bangalore-Chennai Expressway from Bangarupalem to Gudipala section in the state of Andhra Pradesh under Bharatmala Pariyojana on hybrid annuity mode (HAM) (Phase-II/ Package-III).

The bid project cost is Rs 1,060 crore. The completion period 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 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.

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