Dilip Buildcon shares gain 6% after it wins ₹668 crore Gujarat flood control project

Shares of Dilip Buildcon Ltd. gained 6% on Wednesday, February 18, after the company said it was the lowest bidder for a ₹668.02 crore project for the construction of the Narmada Flood Protection Embankment.It said the tender was floated by the Narmada Water Resources Water Supply & Kalpasar Department of the Gujarat government.

The project involves construction of the flood protection embankment on river Narmada in Bharuch district on an engineering, procurement and construction (EPC) basis.
The same is to be executed in 24 months.The company’s order book at the end of the third quarter was at ₹29,372 crore.

Dilip Buildcon reported a net profit of ₹830 crore in the third quarter

compared to ₹115.3 crore in the previous year.Its revenue declined 17.5% to ₹2,138 crore from ₹2,590 crore last year.

The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) declined 20% to ₹382 crore from ₹467 crore in the previous year.

Its margins contracted to 17.9% from 18.4% in the year-ago period.

The company reported a one-time exceptional gain of ₹585 crore.

The stock was up 3% at ₹448 apiece around 10 am on Wednesday. It has gained 8.8% in the past year.

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