Dilip Buildcon spurts after JV bags LoA for EPC project

Dilip Buildcon jumped 3.90% to Rs 373.90 after the company said its joint venture has received the letter of acceptance (LoA) on 22 December 2020 from the National Highway Authority of India (NHAI) for a new EPC project in Rajasthan.

The project calls for the construction of eight lane access-controlled expressway starting near Junction with NH-12 near village Ummedpura to major bridge over Takli river near Nayagaon Jageer village (Ch. 419.000-427.300) section of Delhi - Vadodara Green field Alignment (NH-148N) in Rajasthan on EPC Mode (Pkg-15).

Dilip Buildcon, through its joint venture (JV) i.e. Dilip Buildcon - Altis Holding Corporation has received the LoA from NHAI. The 8.30-km long project has bid cost of Rs 1,000.08 crore and has a completion period of 30 months. The announcement was made before market hours today, 23 December 2020.

On a consolidated basis, the company's net profit declined 33.4% to Rs 17.19 crore on a 9.6% rise in net sales to Rs 2,186.67 crore in Q2 September 2020 over Q2 September 2019.

Dilip Buildcon is engaged in the business of infrastructure facilities on engineering procurement and construction (EPC) basis.

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