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Dilip Buildcon has received a Letter of Acceptance from the National Highways Authority of India (NHAI) for a ₹879.3 crore road project in Tamil Nadu. The stock ended the last trading session with gains.
Dilip Buildcon builds roads, highways, bridges, tunnels and other major infrastructure projects, and also undertakes mining, irrigation and urban development work across India.
Breaking it down: the new project involves converting a 46.6 km stretch of NH-49 ( new NH-87) between Paramakudi and Ramanathapuram into a four-lane highway. It will be built under the Hybrid Annuity Model, which combines government and private funding.
For context, NH-49 is the highway connecting the towns of Paramakudi and Ramanathapuram in Tamil Nadu.
FYI: This is the company’s second major win this month. Recently, it also secured a ₹5,000 crore contract from NALCO to develop and operate a bauxite mine for the next 25 years.
By the numbers: the company's September quarter was weak, with net profit falling 22.8% year-on-year and revenue dropping 21.8%. However, margins saw improvement from 24.5% to 20.3% last year.
