Dilip Buildcon bags orders worth Rs 4,000 crore; stock slips for 6th day

Dilip Buildcon Ltd (DBL) extended its losing streak on Thursday, with the stock ending lower for the sixth straight session amid bagging fresh orders worth more than Rs 4,000 crore.

Shares of Dilip Buildcon slipped 0.80 per cent on Thursday, to close at Rs 529.95 on the BSE, down from Wednesday’s close of Rs 534.20, valuing the company at Rs 8,608 crore. The stock had touched a fresh 52-week high of Rs 587.90 in the previous session but relinquished most of its gains to finish in the red.

In a filing to the stock exchanges, the infrastructure developer said its DBL-RAMKY Consortium has received the Letter of Acceptance (LoA) for the Rajasthan Water Grid Project in Bharatpur, valued at Rs 2,905 crore. The work involves the “construction of feeder from Isarda to Khura Chainpura to Bandh Baretha Bharatpur, including all components with its O&M for a period of 20 years on Hybrid Annuity Model (ERCP-09-TF-8),” the company said. The contract is to be completed in 27 months. 

Separately, its joint venture with PSP Projects, DBL-PSP (JV), secured an LoA for infrastructure works at Pudussery Central and Kannambra of Palakkad Node in Kerala, part of the extension of the Chennai-Bengaluru Industrial Corridor to Kochi via Coimbatore. This order, worth Rs 1,115.37 crore on an EPC basis, comes with a completion timeline of 42 months.

The company clarified that both projects were awarded by domestic government entities — the Rajasthan Water Grid Corporation Limited and the Kerala Industrial Corridor Development Corporation Limited.