Dilip Buildcon rises as JV bags LoA for Rs 413-cr project in MP

Dilip Buildcon added 1.52% to Rs 411.75 after the firm through its joint venture (JV), VKMCPL-DBL received letter of acceptance (LoA) for construction project in Madhya Pradesh (MP) worth Rs 412.92 crore.

The companys JV with Vijay Kumar Mishra Construction named VKMCPL-DBL bagged LoA from the Water Resources Department of Madhya Pradesh.

The scope of order constitutes construction of Machhrewa Irrigation Project Dam and pressurized pipe irrigation network on turn key basis.

The cost of the project is Rs 412.92 crore is to be completed in 60 months.

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

Dilip Buildcon reported 3.28% decrease in consolidated net profit to Rs 107.38 crore despite of 23.9% increase in revenue from operations to Rs 2,876.84 crore in Q3 FY24 over in Q3 FY23.

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