Dilip Buildcon gets LoA for Chhattisgarh highway project

Infrastructure developer, Dilip Buildcon today informed the bourses that it has received a letter of acceptance (LoA) from National Highways Authority of India (NHAI) for a new HAM project in Chhattisgarh.

This is a four-lane project to construct 39.30 km length highway in the State of Chhattisgarh under Bharatmala Pariyojana project on hybrid annuity model (HAM).

The cost for the said project is Rs 860.50 crore and the completion period is of 24 months.

As on December 31, 2019, the company’s order book stood strong at Rs 21,205.3 crore. Of this order book, the road segment contribute ~77.14 per cent, followed by mining and irrigation, which accounts for 19.34 per cent and 6.46 per cent, respectively.

In today’s trading session, the stock of Dilip Buildcon declined nearly 7 per cent and made an intraday low of Rs 243.35. But later the stock recovered and at 12.20 pm, was trading nearly at Rs 252.4 on BSE. Its 52-week high is Rs 710.80 and its 52-week low is Rs 226.00 on BSE.