Dilip Buildcon is up 4.17% to Rs 250.50 after the company announced it has been named the lowest bidder for a road project by the National Highways Authority of India (NHAI), based at Hybrid Annuity in Karnataka state. of Rs 1,589 crore.

The scope of the project includes the development of a six lane access controlled greenfield highway between Maradgi S Andola and Baswantpur of the NH-150C on Hybrid Annuity Model (HAM) under the Bharatmala Pariyojna.

The bidding project cost of 65.50 km is Rs 1,589 crore. The expected timeframe for project completion is 30 months. The operational period is 15 years from the date of commercial operation.

Dilip Buildcon can be referred to as a full-service infrastructure company with construction capabilities in mining, sewage, water treatment, dams, roads and bridges, along with a strong presence in more than 19 states.

In the quarter ended December 2021, the company had reported a consolidated net loss of Rs 19.16 crore as compared to the previous quarter ended December 2020 with a net profit of Rs 107.17 crore. Their turnover had fallen by 18.23% year-on-year to Rs 2,245.50 crore in the third quarter of the fiscal year 2022.