Dilip Buildcon rises over 5 per cent on receiving LoA from NHAI

Dilip Buildcon, a construction engineering company announced on Wednesday that it has received a letter of acceptance (LoA) for its new EPC project from National Highways Authority of India (NHAI). Reacting to the news, its share rose nearly 5.76 per cent on BSE.  

The EPC project is regarding the construction of eight-lane access-controlled expressway in the section of Delhi-Vadodara greenfield alignment under Bharatmala Pariyojana in the state of Rajasthan. The project is worth Rs 1,000.08 crore, stretching up to 8.30 km with a completion period of 30 months. 

The company is one of the leading private sector road-focussed engineering procurement construction (EPC) contractors in the country. The core business of the company is to undertake construction projects across India in the roads and irrigation sectors. The company enjoys a 10 per cent market share in EPC and hybrid annuity model (HAM) project segment. 

The company earns around 96.8 per cent of its revenue from EPC projects and 3.2 per cent from road infrastructure maintenance & toll segment. 

At 2.59 pm today, the stock of Dilip Buildcon Ltd was trading 5.60 per cent higher at Rs 380.00. It recorded an intraday high of Rs 384.20 and an intraday low of Rs 365 on BSE.