Dilip Buildcon has jumped to Rs 250.50 by 4.17% after the company announced that it is declared as the lowest bidder for Rs 1,589 crore road project by the National Highways Authority of India (NHAI), based on Hybrid Annuity in the state of Karnataka.
The scope of the project comprises the development of a six-lane access controlled greenfield highway between Maradgi S Andola and Baswantpur section of the NH- 150C on Hybrid Annuity Model (HAM) under the Bharatmala Pariyojna.
The bidding project cost of 65.50 km is Rs 1,589 crore. The expected time period for the completion of the project is 30 months. The operational period will be of 15 years from the date of commercial operation.
Dilip Buildcon can be referred to as a full-service infrastructure company having construction capabilities in mining, sewage, water sanitation, dams, roads, and bridges along with a strong presence in over 19 states.
In the quarter ended December 2021, the company had reported a consolidated net loss of Rs 19.16 crore against the previous quarter ended December 2020 with a net profit of Rs 107.17 crore. Their sales had declined 18.23% on a year-on-year basis to Rs 2,245.50 crore in the third quarter of the financial year 2022.