The shares of this infrastructure solution provider gained up to 7 percent after the joint venture company emerged as the lower bidder for the tender by the water resources department in Madhya Pradesh.
With a market capitalization of Rs 6,784.37 crore, the shares of Dilip Buildcon Ltd. were trading at Rs 461.90 per share, increasing around 2.46 percent as compared to the previous closing price of Rs 450.85 apiece.
According to the company filing, In a joint venture, Dilip Duildcon Ltd and Vijay Kumar Mishra Construction Pvt. Ltd. has declared the L-1 bidder for the tender of “Construction of Machhrewa Irrigation Project Dam and Pressurized Pipe Irrigation Network on a Turnkey Basis floated by the Water Resources Department, Madhya Pradesh, worth Rs 412.92 crore.
Looking into Dilip Duildcon Ltd’s financials, the revenue increased by 23 percent, from Rs 2,322 crore in Q3 FY23 to Rs 2,877 crore in Q3 FY24. During the same period, net profit increased by 3 percent, from Rs 110 crore to Rs 113 crore.
The company has completed 4 HAM projects worth Rs 24,954 million and 1 EPC project worth Rs 5,700 million in the states of Gujarat, Karnataka, Telangana, and Chhattisgarh. The company has also won 4 projects worth Rs 26,413 million in the states of Madhya Pradesh, Rajasthan, and Goa across 3 sectors, i.e., irrigation, water supply, and urban development.
Alpha Alternatives (AA) and Dilip Buildcon Limited (DBL) signed a long-term strategic collaboration in December FY24 to build, finance, and commercialize road projects using an InvIT platform. AA will spend up to Rs 20,000 million throughout the following 12 to 18 months.
Dilip Buildcon Limited is currently engaged in the Engineering Procurement and Construction (EPC) industry of developing infrastructure facilities. The company accepts contracts from the government, private parties, and special purpose vehicles that it promotes.
Written by:- Abhishek Singh
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