Dilip Buildcon slumps over 5 per cent despite securing orders worth Rs 2,241 crore

Dilip Buildcon Ltd has received a letter of acceptance (LoA) from National Highways Authority of India (NHAI) for the construction of two highways worth Rs 2,241 crore.  

The company has received orders for 2 HAM projects under Bharatmala Pariyojana phase 1 in the state of Tamil Nadu as well as in the union territory of Pondicherry. The first one is the construction of a four-lane highway between Viluppuram and Puducherry section of NH 45A (new NH 332) from 0,000 km to 29.000 km. The project would be based on the hybrid annuity model and is expected to get completed within 24 months. The company has been given an operation period of 15 years from the completion date.  

Meanwhile, the second project involves the construction of another four-lane highway between Puducherry and Poondiyankuppam section of NH-45A from 29.000 km to 67.00 km. The project, which would be based on the hybrid annuity model, is expected to get completed within 24 months. Besides, the company has been given an operation period of 15 years from the completion date.  

The share price of the company was down by more than 5 per cent during the early morning hours. On Friday at 11.30 am, it was trading at Rs 597.00, down by 2.47 per cent from its previous close of Rs 612.10.

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