Dilip Buildcon gains after JV secures 100 MW solar project in Madhya Pradesh

Dilip Buildcon rose 2.29% to Rs 526.25 after the company announced that its joint venture, DBL-APMPL (with Dilip Buildcon holding 74% and APMPL holding 26%), has received a letter of acceptance (LoA) from the Madhya Pradesh Jal Nigam (MPJNM).

The LoA pertains to the development of a 100 MW grid-connected ground-mounted solar PV power project under captive mode, which will supply power to MPJNM for 25 years from the date of commissioning.

The project will be developed in Ramnagar and Dhanwada villages, located in Suwasra tehsil, Mandsaur district. The power supply rate is fixed at Rs 2.09 per unit, using non-DCR (Domestic Content Requirement) panels.

Under the captive model, MPJNM will invest Rs 31.20 crore as equity or an equivalent instrument to hold a 26% equity share and ownership in the project company, in line with applicable regulations.

Approximately 315 acres of land, required for the project, will be provided by MPJNM. The construction period is set at 24 months, after which the power supply will continue for 25 years.

Dilip Buildcon is presently in the business of development of infrastructure facilities on an Engineering Procurement and Construction basis (EPC) and undertakes contracts from various government and other parties and special purpose vehicles promoted by the company.

The companys consolidated net profit soared 93.57% to Rs 271 crore in Q1 FY26, compared with Rs 140 crore in Q1 FY25. However, revenue from operations fell 16.40% year on year (YoY) to Rs 2,620 crore in Q1 FY26.

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