According to latest exchange filings, Dilip Buildcon has secured two significant projects in Maharashtra with a combined EPC value of ₹1,839.70 crore, excluding GST. The wins include the ₹688.23 crore NHAI highway project for a four-lane elevated corridor from Old Pune Naka to Boramani Naka on NH-65 in Solapur City, and a ₹1,151.47 crore transmission project for the 400 KV AIS Yavatmal (Babhulgaon) system. These latest wins follow the company's successful bid for a ₹1,265 crore Maharashtra transmission project earlier in September, demonstrating strong momentum in the state's infrastructure sector.
The highway project spans 9.66 kilometers (Km 0.050 to Km 9.710) and will be constructed on Hybrid Annuity Mode with a scheduled completion timeline of 24 months, followed by an operation period of 15 years from the commercial operation date. The transmission project involves the development and operation of a 400 KV AIS Yavatmal (Babhulgaon) system in Maharashtra, with construction and commissioning also planned within 24 months and a 35-year tenure from commercial operation date. Both projects will be executed under established frameworks - the highway project under Hybrid Annuity Mode and the transmission project on a Build, Own, Operate and Transfer (BOOT) basis.
Despite securing these major project wins, Dilip Buildcon's shares fell more than 2% on Monday, trading at ₹404.75 and down 15% year-to-date. The stock decline occurred even as the company announced these significant infrastructure wins, highlighting broader market sentiment. The recent project wins, including the latest Maharashtra transmission project, are part of the company's strategy to build an asset-light infrastructure platform and strengthen its balance sheet. The company is also making efforts to recycle capital through strategic divestments, including agreements to divest its stake in 10 special-purpose vehicles developing a 1,363-megawatt solar portfolio in Madhya Pradesh to Alpha Alternatives and its affiliates.
