Dilip Buildcon jumped 4.95% to Rs 223.02 after the company said it was declared as the lowest bidder for Phase-2 of Ahmedabad Metro Rail project in the state of Gujrat.
The tender was floated by the Gujrat Metro Rail Corporation (CMRC). The project entails construction of 7.553 kilometers elevated viaduct and 7 stations (incl. E&M, architectural finishing, roofing, plumbing, signage, etc.) from Sector-1 to Mahatma Mandir in connection with Ahmedabad Metro Rail Project Phase-2.The cost for the project (excluding GST) is expected to be Rs 723.45 crore. The estimated completion period is 24 months.
Dilip Buildcon is a full-service infrastructure company with construction capabilities in roads & bridges, mining, water sanitation, sewage and dams with a presence in over 19 states.
The company's standalone net profit tumbled 26.7% to Rs 19.80 crore in Q1 FY23 from Rs 27.02 crore posted in Q1 FY22. Revenue from operations jumped 22.1% to Rs 2,621.52 crore in the first quarter as against Rs 2,146.26 crore recorded in the same period last year.
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