Dilip Buildcon backed as L-1 bidder for Rs 1400-cr project

12 Jul 2022 CW Team

Dilip Buildcon has been awarded as the lowest bidder for the 'Gandhisagar-2 Multi-Village Scheme' in Madhya Pradesh.

The project entails the engineering, procurement, construction, testing, commissioning, trial run, and operation and maintenance of various Gandhisagar-2 multi-village schemes, districts Mandsaur and Neemuch components in a single package on a “turn-key” job basis, as well as the trial run and operation and maintenance of the entire Madhya Pradesh water supply scheme for ten years. The project is expected to be completed in 24 months, with a 15-year operational duration after commercial operations begin.

Furthermore, the National Highway Authority of India (NHAI) awarded a project worth Rs 1,060 crore to Bangarupalem Gudipala Highways, a fully owned subsidiary of Dilip Buildcon, for the construction of a four-lane Bengaluru-Chennai expressway in Andhra Pradesh on a hybrid-annuity mode (Phase III Package III) with a 24-month completion deadline.

With the project declaration, the share price of the company rose by 2.92% though the company reported a 15% decline in sales in quarter 4 of FY22.

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