Construction and infrastructure development company Dilip Buildcon Ltd. (DBL) has signed a contract agreement with the Gujarat Metro Rail Corporation (GMRC) for a Surat Metro Rail project worth Rs 702 crore.
The company will build an 8.702 km long elevated viaduct and seven stations from Majura Gate to Saroli Dead End of corridor 2 under the Surat Metro Rail Project Phase-1. The project period is 26 months.
In the last quarter, the company also won another EPC project worth Rs 1,400 crore for the construction of the Gandhinagar-2 Multi-Village Water Supply Scheme and an EPC project worth Rs 723.5 crore for the construction of the Ahmedabad Metro rail.
Its revenue from operations increased to Rs 2,595 crore from Rs 2,218 crore in the year-ago quarter.
DBL registered a profit of Rs 64.2 crore against a loss of Rs 19.3 crore in the year-ago quarter on account of better EBITDA margin, lower finance costs, and profit on account of divestment of a 51 percent in two hybrid annuity mode (HAM) projects.
The EBITDA increased by 15 percent mainly due to a decrease in fuel costs and fixed overheads. The finance cost during the quarter decreased by 24 percent on account of a reduction in outstanding debentures, standalone and lower utilisation of working capital facilities, and a reduction in mobilisation advances.
Shares of Dilip Buildcon Ltd. are trading at Rs 243.50, up 2.27 percent.
(Edited by : Rukmani Krishna)
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