Dilip Buildcon to get Rs 8.84 crore as bonus for early project completion

The company said that its road project on the Byrapura to Challakere section of NH-150 A in Karnataka has been provisionally completed.

The project of four laning Byrapura to Challakere section of NH-150 A, on Hybrid Annuity Mode under Bharatmala Pariyojna in Karnataka pkg - II, has been provisionally completed. The total project cost is Rs 841.70 crore.

Earlier, the scheduled completion date of the project was 30 December 2020. On account of COVID-19, the revised scheduled completion date including EOT was 30 March 2021.

The provisional completion certificate has been issued by the authority and had declared the project fit for entry into commercial operation as on 15 December 2020 and consequently the company is entitled to receive the bonus of Rs 8.84 crore in lieu of early completion (i.e. 105 days prior to the revised scheduled completion date) of the said project.

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.

The scrip rose 0.48% to Rs 397.70 on the BSE. It traded in the range of 393.55 and 402 so far during the day.

In the past one year, the stock has declined by 5.57% while the benchmark S&P BSE Sensex has added 15.78% during the same period.

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