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Dilip Buildcon firms up after receiving LOA for expressway project

Capital Market 

Dilip Buildcon rose 3.24% to Rs 409 after the company said it received letter of award (LoA) for development of Bundelkhand Expressway project in Uttar Pradesh.

Dilip Buildcon said the contract is on EPC (engineering, procurement, construction) basis and it was awarded by Uttar Pradesh Expressways Industrial Development Authority (UPEIDA). The accepted bid value of the project is Rs 1362.06 crore. The project is to be completed in 36 months

On consolidated basis, the company's net profit declined 56.9% to Rs 25.87 crore on a 15.4% rise in net sales to Rs 1994.40 crore in Q2 September 2019 over Q2 September 2018.

Dilip Buildcon trades below its 50 days and 200 days simple moving average placed at 409.85 and 465.67 respectively.

Dilip Buildcon is engaged in the business of infrastructure facilities on engineering, procurement and construction (EPC) basis. The firm undertakes contracts from various government and other parties and special purpose vehicles promoted by the company.

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

First Published: Fri, November 29 2019. 13:36 IST