Hot Pursuit     17-Aug-23
Dilip Buildcon gains after JV bags LoA for irrigation project in Madhya pradesh
Dilip Buildcon rose 2.53% to Rs 314.05 after the company received letter of acceptance (LoA) through its joint venture, Dilip Buildcon – Vijay Kumar Mishra Construction from Water Resource Department in Mandsaur, Madhya Pradesh.
LoA includes construction of Malhargarh Pressurized Micro lifting major irrigation project on turnkey basis comprising of preparation of construction drawings & design, obtaining approval of all construction drawing & design from the competent authority including construction of all civil, mechanical and electrical works involved in the construction of Project.

The cost of the project is Rs 699.03 crore and completion period is 36 months and after completion management, operation and maintenance (MOM) for the period of 60 months.

Dilip Buildcon is one of the leading full-service infrastructure company with construction capabilities in roads & bridges, mining, water sanitation, sewage, dams, irrigation, industrial, commercial and residential buildings with a presence in over 19 states & 1 union territory.

The company reported consolidated net profit of Rs 12.68 crore in Q1 FY24 as compared with net loss of Rs 53.94 crore in Q1 FY23. Net sales rose 1.3% year on year to Rs 2920.78 crore in Q1 FY24 over Q1 FY23.

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