According to Dilip Buildcon, Maradgi S. Andola-Baswantpur Highways, its wholly owned subsidiary, signed a concession agreement with the National Highways Authority of India (NHAI) for a road project in Karnataka. The deal includes the creation of a 6-lane, access control Greenfield Highway along NH150C (Package III of the Akkalkot KNT/TS Border) in a hybrid annuity mode as part of the Bharatmala Pariyojna.

The construction of the project will take 30 months and its operation will take 15 years from the beginning of commercial exploitation date (COD), while the project cost will be Rs. 15.89 billion. With a presence in more than 19 states and one union territory, Dilip Buildcon is a top full-service infrastructure company with construction capabilities in mining, water treatment, sewage, dams, irrigation, industrial, commercial and residential projects. Compared to the net loss of Rs 0.97 billion reported in Q3 FY22, the company reported a standalone net profit of Rs 0.80 billion in Q3 FY23. For the three months ended December 31, 2022, revenue from operations increased by 8.2% compared to the previous year to Rs 23.79 billion.