Dilip Buildcon JV Wins ₹1,503 Crore Gurugram Metro Project

2 Aug 2025 , 08:22 PM

Dilip Buildcon Ltd, the Bhopal-based infrastructure firm, announced that its joint venture with RBL Bank has emerged as the lowest (L1) bidder for a railway construction project. The project is valued at ₹1,503.6 crore, issued by Gurugram Metro Rail.

The awarded project includes the construction of a viaduct and 14 elevated metro stations. The project covers the stretch from Millennium City Centre to Sector 9 to Dwarka Expressway, along with a ramp connecting to the depot at Sector 33. Additionally, the JV will build an underpass at Bhaktawar Chowk and a spur (permeable structure) extending from Basai village to Dwarka Expressway.

The scope excludes pre-engineered building (PEB) and architectural finishing works between Millennium City Centre and Cyber City, spanning 26.65 km. In total, the contract involves the construction of 27 stations, with the execution timeline set at 30 months (2.5 years).

The order win comes just days after Dilip Buildcon reported a 93.6% year-on-year surge in consolidated net profit. The net profit rose to ₹271 crore for Q1 FY26. This is  buoyed by improved margins and a one-time exceptional gain of ₹169.3 crore.

EBITDA for the quarter climbed 8.7% to ₹520 crore. EBITDA margins improved significantly to 19.8%. This is compared to 15.2% in the same quarter last year, showcasing operational efficiency gains.

Despite the strong bottom-line performance, revenue declined 16.4% YoY to ₹2,620 crore. This is reflecting a broader slowdown in EPC (engineering, procurement, and construction) order inflows.

As of June 30, 2025, the company’s order book stood at ₹13,695 crore. A breakdown reveals:

• Mining projects accounted for the largest share at 28.9%
• Roads and highways contributed 17.8%
• The remaining portfolio spans irrigation, tunnels, urban development, metro projects, bridges, water supply, and optical fibre infrastructure

Devendra Jain, Managing Director and CEO of Dilip Buildcon, acknowledged challenges in the EPC segment but emphasized that growth in coal mining and Hybrid Annuity Model (HAM) road projects helped offset the softness in traditional order segments.

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