Dilip Buildcon shares in focus as firm bags Rs 879 crore highway project; key details

Shares of Dilip Buildcon Ltd are in focus on Tuesday after the infrastructure major announced bagging a new highway project in Tamil Nadu.

In a regulatory filing to the stock exchanges on Monday, the company said it has been "declared as L-1 bidder for the tender floated by the National Highways Authority of India ('NHAI')".

The project pertains to the "4-laning of Paramakudi to Ramanathapuram section of NH49 (New NH87) from Km 80.360 to Km 127.025 DC in the state of Tamil Nadu".

According to the filing, the contract is valued at Rs 879.30 crore, excluding GST. The project, spanning 46.47 km, will be executed on a Hybrid Annuity Mode (HAM) basis. The construction period is 24 months, followed by an operation and maintenance period of 15 years from the commercial operation date (COD).

Earlier, on October 17, the company informed the exchanges about the successful listing of Anantam Highways InvIT, jointly backed by Dilip Buildcon (74 per cent) and Alpha Alternatives (26 per cent), on the NSE and BSE. The Infrastructure Investment Trust (InvIT) raised Rs 400 crore, receiving strong investor interest with an overall subscription of 5.62 times.

The InvIT currently holds seven hybrid annuity model (HAM) road projects with a combined enterprise value of aboutRs 4,500 crore and aims to expand its portfolio to Rs 20,000–Rs 30,000 crore over the next two to three years.