Dilip Buildcon soared 8.5% to Rs 306 after the company's joint venture with HCC received letter of acceptance (LOA) for a new EPC project in Gujarat.
The project entails construction of Bhadbhut Barrage, flood protection embankments and associated works across River Narmada Near Bharuch district in Gujarat. The company receivd the LoA from the Narmada, Water Resources, Water Supply and Kalpasar Department (Water Resources).The bid project cost is Rs 4167.70 crore and the completion period is 48 months. The maintenance period is 10 years.
Dilip Buildcon is engaged in the business of infrastructure facilities on engineering procurement and construction (EPC) basis. The firm undertakes contracts from various government and other parties and special purpose vehicles promoted by the company. It operates through construction and engineering contracts segment.
On a consolidated basis, Dilip Buildcon's net profit jumped 127% to Rs 190.98 crore on a 6.1% rise in net sales to Rs 2729.66 crore in Q4 March 2020 over Q4 March 2019.
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