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Lowest bidder tag boosts Dilip Buildcon

Capital Market 

Dilip Buildcon gained 2.79% to Rs 291 on BSE after the company was declared as lowest bidder for the tender floated by the National Highways Authority of India (NHAI) on Hybrid Annuity basis in Gujarat.

Dilip Buildcon in an exchange filing after market hours on Friday said that the company was declared L-1 bidder for a new project involving four laning of Dhrol - Bhadra Patiya section and Bhadra Patiya - Pipaliya Section of NH-151A in Gujarat on Hybrid Annuity Mode.

The bid project cost is Rs 882 crore and the project is to be completed within 24 months. The company also added that the operation period is 15 years. The project is through Public Private Partnership (PPP) on design, build, operate and transfer or Hybrid Annuity basis, Dilip Buildcon said.

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.

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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, July 13 2020. 11:03 IST