Dilip Buildcon wins two HAM projects in Karnataka; stock jumps
Dilip Buildcon Limited has emerged as L-1 bidder for two new hybrid annuity model (HAM) projects of Bangalore Chennai Expressway under Bharatmala Pariyojana in the state of Karnataka, Phase - I (Package- I & II) worth Rs 2,439 crore.
The first project includes 4 laning from 0.000 km to 26.400 km (along with 0.700 km approach towards NH 207 with interchange on NH4 at start point) of Bangalore to Malur section of Bangalore Chennai Expressway in the state of Karnataka (Phase – I, Package I). While the second project includes 4 lane expressway from 26.400 km to 53.500 km of Malur to Bangarpet section of Bangalore Chennai Expressway (Phase – I Package II).
The first project is worth Rs 1,160 crore while the second one amounts to Rs 1,279 crore. The completion period estimated for both these projects is 24 months each. The operation period will be 15 years from the commercial operation date (COD). The first year’s operating & maintenance charges would be Rs 3 crore each for the two projects.
The company’s order book as of December 31, 2020 stood at Rs 26,141 crore, giving revenue visibility for the next 2-3 years. The order mix includes roads & highways- 41.72 per cent, irrigation – 18.42 per cent, mining – 16.13 per cent, tunnel – 8.44 per cent, special bridges – 7.80 per cent, railways – 2.51 per cent, airport – 1.74 per cent and metro – 1.26 per cent.
On Wednesday, the stock of Dilip Buildcon was trading 4.3 per cent higher at Rs 657 at 1.16 pm from its previous close of Rs 630.15 on BSE.