Dilip Buildcon emerges as L1 bidder for MP project

Madhya Pradesh headquartered infra projects company, Dilip Buildcon, informed the exchanges on Thursday that it has emerged L1 bidder for a new contract in Madhya Pradesh.

The company in a stock exchange filing stated that it emerged as L1 bidder for a new OB removal contract mining work for Nigahi Project at Singrauli district in the state of Madhya Pradesh. The overall value of the projects is estimated to be around Rs. 2122.73 crore by the Northern Coal field, a subsidiary of Coal India (CIL). The contract period for the given project is given as 1551 days, around 4.23 years. The project work as stated by the company includes excavation of overburden of first dig for composite work consisting of blast hole drilling, loading and transportation of broken rocks and soil etc.

Dilip Buildcon is engaged in business of undertaking and executing construction projects in the roads and irrigation sectors. The company has specialization in constructing state and national highways, city roads, culverts and bridges etc.

On Thursday, the stock price reacted positively to the news and touched intra-day high of Rs. 456 per share. At 1.00 pm, the stock was trading with gains of 1.63 per cent at per share price of Rs. 446.65 on BSE.