Dilip Buildcon jumps, declared L1 bidder by NHAI

Road and Infrastructure developer Dilip Buildcon has been declared L-1 bidder for EPC projects in Maharashtra. The project is worth Rs. 480.06 crore and the bid was called by NHAI.

The project comprises of the highway length of 28.88 kms and the construction period for this project is around 24 months.

During the recent quarter Q3FY19, the revenue jumped by 28 per cent YoY, whereas PAT jumped by 26 per cent YoY. The company's order book of Rs. 23,100 crore as on December 31, 2018 translates to a book-to-bill of nearly 2.9x on FY18 revenue, which gives strong revenue visibility for the next 2-3 years.

Based on the current order book, Dilip Buildcon does not envisage any capital expenditure on equipment during FY20. The sector break-up of the order book comprises of Roads, Highways & Bridges (81.19 per cent), Mining (14.36 per cent), Irrigation (2.32 per cent), Metro (1.84 per cent) and Urban development (0.28 per cent).

Cheering the positive news, the stock of Dilip Buildcon jumped by around 8 per cent on the BSE and made an intraday high of Rs. 603 per share. The stock had hit its 52-week high of Rs. 1,248.35 on May 15, 2018 and its 52-week low of Rs. 311.55 on February 5, 2019 on the BSE.