Dilip Buildcon shines on bagging EPC project in Gujarat

Dilip Buildcon Limited informed the bourses on Thursday that its joint venture with Hindustan Construction Company (DBL-HCC) has received a letter of acceptance (LOA) from Narmada Water Resources, Water Supply and Kalpasar Department (Water Resources) for an engineering, procurement and construction (EPC) project in the state of Gujarat.

Reacting to this news, the stock of Dilip Buildcon jumped 9.1 per cent at around 12:20 pm on BSE.

The scope of this EPC project includes the construction of Bhadbhut barrage, flood protection embankments, and other associated works across River Narmada, near Bhadbhut village in Bharuch district.

The estimated time given for the completion of the project, which is worth Rs 4,167.70 crore, is 48 months and thereafter, a maintenance period of ten years has been decided.

Last week, the company had received another LOA from National Highways Authority of India for an EPC project in the state of Bihar. The project was worth Rs 1,900.08 crore and its estimated completion period is of 48 months.

In FY20, the company was able to complete 14 projects worth Rs 10,544.4 crore and had won orders worth Rs 6,725 crore during the year. The sector-wise order mix included roads – 47 per cent, mining – 27 per cent, irrigation – 13 per cent, airport – 8 per cent and special bridge – 5 per cent. By the end of FY20, the company’s order book stood at Rs 19,081.6 crore.

On Thursday, the stock of Dilip Buildcon surged 9.1 per cent to Rs 307.75 from its previous close of Rs 282 on BSE.