Dilip Buildcon Ltd. has secured two significant infrastructure projects in Maharashtra with a combined EPC value of ₹1,839.70 crore, excluding GST. According to latest exchange filings, the company was declared the L-1 bidder by the National Highways Authority of India (NHAI) for the construction of a four-lane elevated corridor from Old Pune Naka to Boramani Naka on NH-65 in Solapur City. The ₹688.23 crore project, excluding GST, will be executed under the Hybrid Annuity Mode with a 24-month construction window and 15-year operation period from commercial operation date. Separately, the company was selected as the L-1 and successful bidder by REC Power Development and Consultancy Ltd., acting for Maharashtra's state transmission utility, for the development and operation of a 400 kV AIS transmission substation at Yavatmal (Babhulgaon).
The latest wins bring Dilip Buildcon's recent transmission order book to ₹6,263 crore with an enterprise value of approximately ₹6,829 crore. As reported by CNBC TV18, the company stated that these transactions will help recycle capital into new opportunities and strengthen its balance sheet. The ₹1,151.47 crore transmission project carries a 24-month construction window and 35-year operating period from commercial start, while the ₹688.23 crore highway project will be completed in 24 months with a 15-year operation period. This substantial portfolio reflects the company's strategic focus on diversifying into high-value infrastructure segments.
Despite securing these major projects, Dilip Buildcon shares fell more than 2% on Monday, September 28, trading at ₹404.75 and remaining 15% down for the year. According to CNBC TV18, the stock decline occurred even as the company announced the project wins, indicating market concerns about execution challenges or broader sector sentiment. The two recent wins come shortly after Dilip Buildcon was declared the successful bidder for a ₹1,265 crore Maharashtra transmission project earlier in September, demonstrating the company's consistent ability to secure major infrastructure projects through competitive bidding processes.
In addition to the new project wins, Dilip Buildcon is pursuing an asset-light infrastructure strategy by divesting its stake in 10 special-purpose vehicles developing a 1,363-megawatt solar portfolio in Madhya Pradesh to Alpha Alternatives and its affiliates. As reported by CNBC TV18, this transaction represents the company's effort to recycle capital into new opportunities and strengthen its balance sheet, positioning it for future growth in the renewable energy sector while focusing on core infrastructure development capabilities.
