homemarket Newsstocks NewsDilip Buildcon subsidiary declared lowest bidder for Rs 1,947 crore Madhya Pradesh project shares rise

Dilip Buildcon subsidiary declared lowest bidder for Rs 1,947 crore Madhya Pradesh project - shares rise

Dilip Buildcon subsidiary declared lowest bidder for Rs 1,947 crore Madhya Pradesh project - shares rise
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By CNBCTV18.com Jan 24, 2023 12:12:43 PM IST (Published)

Dilip Buildcon’s wholly-owned subsidiary Raipur Vishakhapatnam CG -2 Highways Ltd. has also received the appointed date letter from the National Highways Authority of India (NHAI).

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 Shares of Dilip Buildcon surged more than three percent in morning trade on Tuesday after its joint venture with Skyway Infraprojects emerged as the lowest bidder for a project worth Rs 1,947 crore from the Madhya Pradesh government.

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The company said that the joint venture between Dilip Buildcon Ltd. and Skyway Infraprojects Pvt. Ltd. (DBL-SIPL) was declared as the lowest bidder for the tender floated by the Madhya Pradesh Jal Nigam Maryadit, Bhopal.


The scope of work includes engineering, procurement, construction, testing commissioning, trial run, and operation as well as maintenance of various components of the Rewa Bansagar MVS in the Rewa district in a single package on a turnkey job basis. The project will have to be completed in 24 months.

Dilip Buildcon also informed stock exchanges that its wholly-owned subsidiary Raipur Vishakhapatnam CG -2 Highways Ltd. has received the appointed date letter from the National Highways Authority of India (NHAI).  It declared the appointed date as January 9, 2023.

The scope of the work includes the development of a six-lane Sargi - Basanwahi Section of the NH-130 road from under the Raipur Visakhapatnam Economics Corridor in the state of Chhattisgarh on hybrid annuity mode.

In December 2022, the company said that its joint venture with RBL Bank executed a contract with the Gujarat Metro Rail Corporation Ltd. (GMRC) for a Rs 1,061 crore project.

Last month, Dilip Buildcon also directly executed a contract agreement with Gujarat Metro Rail for a Surat Metro Rail Project worth Rs 702.02 crore.

Shares of Dilip Buildcon are trading 2.45 percent higher at Rs 221.25.

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