Infrastructure company Dilip Buildcon Ltd announced on Monday that it has received a project worth ₹548 crore in Tamil Nadu for a tender floated by the National Highways Authority of India (NHAI).
Dilip Buildcon’s shares traded lower in Monday’s session, falling 1.7% to ₹430.1 per piece on the BSE at 2:15 pm with a market capitalisation of ₹1,042 crore. The road construction company has received the Letter of Award (LOA) for a tender floated by NHAI on a hybrid annuity basis in Tamil Nadu.
The details of the project involve improving the alignment of Thoppur Ghat Section for a particular patch in Dharmapuri, Salem Section of NH-44 under the NH(O) 2023-24 in the southern state.
The bid project cost stands at ₹548 crore, excluding the Goods and Services Tax (GST).
The project is set to be completed within a period of 36 months, with the operation period spanning over 15 years from the COD. The length of the project distance is 6.6 km, as stated by Dilip Buildcon on March 11, 2024.
In the quarter ended December 31, 2023, Dilip Buildcon reported a 3.2% year-on-year (YoY) decline in net profit at ₹107.4 crore. The company had posted a net profit of ₹111 crore in the corresponding quarter last year.
The revenue from operations for Q3 of 2023 were up by close to 24% at ₹2,876.8 crore against ₹2,322.4 crore in the corresponding period of the preceding fiscal.
(Edited by : Ajay Vaishnav)
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