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Dilip Buildcon gains on emerging as lowest bidder for EPC project

Capital Market 

Dilip Buildcon jumped 4.2% to Rs 282.95 after the company said it was declared a lowest (L-1) bidder for a new EPC project in Gujarat.

The company, through joint venture i.e Dilip Buildcon-HCC (JV), has been declared as L-1 bidder for the tender floated by a civic body in Gujarat.

The Engineering, Procurement, Construction (EPC) project is for construction of Bhadbhut Barrage, flood protection embankments and associated works across River Narmada near Bharuch district in Gujarat.

The bid project cost is Rs 4167.70 crore. The contract completion period is 48 months and maintenance period is 10 years.

Shares of Dilip Buildcon snapped six-day losing streak. The stock lost 7% in last six trading days from its previous closing high of Rs 292.5 posted on 23 June 2020.

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. It operates through construction and engineering contracts segment.

On a consolidated basis, Dilip Buildcon's net profit jumped 127% to Rs 190.98 crore on a 6.1% rise in net sales to Rs 2729.66 crore in Q4 March 2020 over Q4 March 2019.

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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: Thu, July 02 2020. 10:45 IST