Dilip Buildcon Ltd. (DBL) has been awarded a substantial contract by the National Highways Authority of India (NHAI) for the construction of a four-lane elevated corridor in Solapur City, Maharashtra. The project, valued at ₹688.23 crore (excluding GST), involves developing a critical stretch on National Highway-65.
Project Details and Scope
The awarded project encompasses the construction of a 9.66-kilometer four-lane elevated corridor, including its approaches, extending from Old Pune Naka to Boramani Naka within Solapur City on NH-65. This infrastructure initiative is slated for completion within 24 months from the commencement date.
Operating under the Hybrid Annuity Mode (HAM), the contract also stipulates a 15-year operational period for Dilip Buildcon following the commercial operation date (COD). The company confirmed that the order was received in the normal course of business, with no promoter or promoter group interest in the awarding entity, and it does not fall under related-party transactions.
Stock Market Reaction
Despite securing this significant order, Dilip Buildcon's shares experienced a downturn on Monday. The stock fell by 2.29%, touching a low of ₹402.95, compared to its previous close of ₹412.40. This decline occurred amidst a broader fall in benchmark indices on the same day.
The new elevated corridor project further expands Dilip Buildcon's robust portfolio of road and highway infrastructure projects, reinforcing its position as a key player in India's construction sector. The company will be responsible for both the construction and the subsequent long-term operation of the highway infrastructure under the HAM framework.