Shares of Dilip Buildcon surged more than one percent on Thursday after the company announced that its two wholly owned subsidiaries has executed the concession agreement worth Rs 1,373.6 with the National Highways Authority of India (NHAI) on April 26, 2023.
One of the projects which is worth Rs 599.5 crore is for the development of Six-Lane Access Controlled Greenfield Highway at Bengaluru – Vijayawada Economic Corridor Phase-I in Andhra Pradesh. Another development which is worth Rs 774.10 crore is regarding Bengaluru-Vijayawada Expressway Package-4- Greenfield Highway from Odulapalle to Nallacheruvu-palli Phase-I in Andhra Pradesh. Both the projects are on Hybrid Annuity Model (HAM) Mode under Bharatmala Pariyojana.
The company has assured to complete the project within 24 months with operation period of 15 years.
Last month, on March 27, the infrastructure company had announced that it has been declared as Lowest (L-1) bidder for a new HAM project worth Rs 780.12 crore by NHAI.
In February, the company had executed contract agreement with Gujarat Metro Rail Corp for a project worth Rs 723.4 cr. On February 27, Dilip Buildcon had entered in Engineering, procurement and construction (EPC) agreement with Madhya Pradesh Jal Nigam Maryadit for a project worth Rs 1,947 crore.
The shares of Dilip Buildcon were trading 1 percent higher at Rs 180 till 2:50 pm.
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