Dilip Buildcon zooms nearly 2 per cent on receiving order from NHAI

Dilip Buildcon today announced that it has received an order from National Highways Authority of India (NHAI) for the construction of four-lane Bangalore-Chennai Expressway from Bangarupalem to Gudipala section in the state of Andhra Pradesh under Bharatmala Pariyojana on hybrid annuity model (HAM). 

The project, worth Rs 1,060 crore, is estimated to be completed within 24 months while the length of the road would be 29 km. 

Reacting to this, the company’s stock today jumped 4.54 per cent at 10.11 am. 

Meanwhile, the company reported a net profit of Rs 181.91 crore in Q3FY21, an increase of 107.45 per cent. It had reported a profit of Rs 87.69 crore in Q3FY20. The company reported net sales of Rs 2,746.19 crore for Q3FY21, an increase of 7.09 per cent as against the net sales of Rs 2,564.39 crore for Q3FY20. 

According to BSE data, the stock traded at a P/E multiple of 29.69 and a price-to-book ratio of 2.47. The stock has a 52-week high and a 52-week low of Rs 697 and Rs 193.40, respectively. 

At the time of market closing, the stock of Dilip Buildcon Ltd was trading at Rs 679.80, up by 1.96 per cent on BSE.