Dilip Buildcon shares gain on winning road project in Andhra Pradesh

The project is worth Rs 780.12 crore and to be constructed in 24 months and operated for 15 years, from commencement of operations date.

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Shares of Dilip Buildcon rose 5 percent in early trade on March 28 after company emerged as a lowest bidder for road project in Andhra Pradesh.

Dilip Buildcon has been declared as the L-1 (lowest) bidder for a tender floated by National Highways Authority of India on hybrid annuity basis (HAM), it said in a regulatory filing on March 28.

The project is development of six-lane access controlled greenfield highway from Audireddipalle to Mallapalle of ‘Bengaluru – Vijayawada economic corridor on HAM mode under Bharatmala Pariyojana Phase-I (Package -7) in the state of Andhra Pradesh.

The project is worth Rs 780.12 crore and to be constructed in 24 months and operated for 15 years, from commencement of operations date.

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At 09:46 hrs Dilip Buildcon was quoting at Rs 182.90, up Rs 7.65, or 4.37 percent on the BSE.

The share touched a 52-week high of Rs 317.35 and a 52-week low of Rs 174.60 on 11 April, 2022 and 27 March, 2023, respectively.