Dilip Buildcon's JV Lands Rs 1,275.3 Crore Water Supply Project, Shares Surge 6%

5 Sep 2023 , 01:43 PM

Dilip Buildcon’s shares surged by 6 % during intraday trading on September 5 following a significant contract win. The company’s joint venture, Dilip Buildcon Limited – Patel Engineering Ltd., secured a substantial order valued at Rs 1,275.3 crore.

This order pertains to an engineering, procurement, construction, testing, commissioning, trial run, and operation & maintenance project for the Narmada Gambhir Multi Village Drinking Water Supply Scheme in District Ujjain. The contract specifies a turnkey job basis, and the project is scheduled for completion within 24 months.

On September 4, another joint venture of Dilip Buildcon, named Dilip Buildcon Limited – Vijay Kumar Mishra Construction, executed an agreement with the Water Resources Department of Madhya Pradesh for the construction of the Malhargarh Pressurized Micro Lift Major Irrigation Project.

This project, with a project cost of Rs 699.03 crore, encompasses tasks such as the preparation of construction drawings & design, obtaining approval of all construction drawings & designs, and the construction of all civil, mechanical, and electrical works required for the project. The project is set to be completed in 36 months.

In August, Dilip Buildcon’s JV with Patel Engineering emerged as the L-1 bidder for a tender floated by the Madhya Pradesh Jal Nigam, Ujjain, Madhya Pradesh, with a project cost of Rs 1,275.30 crore. The company’s shares had reached a 52-week high of Rs 347.80 and a 52-week low of Rs 159.70 on August 2, 2023, and May 19, 2023, respectively.

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