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Affiliate of Dilip Buildcon signs a concession arrangement with NHAI
According to Dilip Buildcon, Maradgi S. Andola-Baswantpur Highways, its wholly owned subsidiary, signed a concession agreement with the National Highways Authority of India (NHAI) for a road project in Karnataka. The deal entails the creation of a 6-lane, access-controlled Greenfield Highway along NH150C (Package III of the Akkalkot KNT/TS Border) in a hybrid annuity mode as part of the Bharatmala Pariyojna.
The project's construction will take 30 months, and its operation will last 15 years from the start of commercial operation date (COD), while the project cost is Rs. 15.89 billion. With a presence in more than 19 states and one union territory, Dilip Buildcon is a top full-service infrastructure firm with construction capabilities in mining, water sanitation, sewage, dams, irrigation, industrial, commercial, and residential projects. As comparison to the net loss of Rs 0.97 billion reported in Q3 FY22, the company reported a standalone net profit of Rs 0.80 billion in Q3 FY23. For the three months ending December 31, 2022, revenue from operations increased 8.2% over the prior year to Rs 23.79 billion.
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