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Dilip Buildcon executes concession agreement with NHAI

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The construction company's wholly-owned subsidiary, Narenpur Purnea Highways, has executed the concession agreement with the National Highways Authority of lndia (NHAI) on 24 October 2020.

The project entails construction and upgradation of NH-131A from km 34.600 near Narenpur to km 79970 near Purnea to four lane standard and from km 79.970 to km 82.000 near Purnea to two lane with paved shoulders standard in Bihar on hybrid annuity mode.

The bid project cost is Rs 1905 crore. The order is to be completed in 24 months and the operation period is 15 years from COD. The announcement was made during market hours today, 26 October 2020.

On a consolidated basis, Dilip Buildcon's net profit tanked 49.7% to Rs 50.48 crore on 13.8% decrease in net sales to Rs 2,099.95 crore in Q1 June 2020 over Q1 June 2019.

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

Shares of Dilip Buildcon rose 0.74% to Rs 339.75 on BSE. The scrip has soared 75.67% from its 52-week low of Rs 193.40 hit on 25 March 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, October 26 2020. 12:23 IST