The project will be executed under the Tariff-Based Competitive Bidding (TBCB) route, in which Dilip Buildcon will acquire 100% equity in the project special purpose vehicle (SPV) and act as the Transmission Service Provider (TSP).
The project will be implemented on a Build-Own-Operate-Transfer (BOOT) basis, with a concession period of 35 years from the commercial operation date.
The company said construction and commissioning are expected to be completed within 24 months from the effective date.The estimated engineering, procurement and construction (EPC) value of the project is approximately ₹1,850 crore, excluding GST.
RECPDCL acted as the bid process coordinator on behalf of the Government of Karnataka for the project. Dilip Buildcon also clarified that the contract does not involve related party transactions and that its promoters do not have any interest in the awarding entity.
For the December quarter, DBL reported a net profit of ₹830 crore, compared with a profit of ₹115.3 crore in Q3FY25. The bottom line included a one-time exceptional gain of ₹585 crore, which significantly boosted the reported profitability.
Revenue fell 17.5% year-on-year to ₹2,138 crore from ₹2,590 crore in year ago period. EBITDA slipped 20% to ₹382 crore from ₹467 crore last year, and the margin stood at 17.9% compared with 18.4% in the same quarter a year ago.
Following the announcement, shares of the company spiked to hit the intraday high of ₹293.40, but the stock has since pared its gains and is trading close to yesterday’s closing price at ₹288.50 as of 12.53 pm. The shares have declined 15% in the last month.
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