Bhopal-based construction company Dilip Buildcon Ltd on Thursday, June 8, said its wholly-owned subsidiary has executed the concession agreement with the National Highway Authority of India (NHAI) for a Rs 780.12 road project.

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Under the project, the company will be developing a six-lane access-controlled greenfield highway from Audireddipalle to Mallapalle of Bengaluru on the Vijayawada Economic Corridor (NH544G) on HAM mode under the Bharatmala Pariyojana Phase-I in Andhra Pradesh.

The project will be completed in 24 months from the appointed date and have an operation period of 15 years from the commercial operation date (COD), the construction engineering company in a regulatory filing at exchanges said.

In March this year, Dilip Buildcon said it has been declared as the lowest (L-1) bidder for a new HAM project worth Rs 780.12 crore by NHAI.

The project is for six-laning the 16-km access-controlled greenfield highway from Audireddipalle to Mallapalle.

The project has to be completed in a period of 24 months and has an operation period of 15 years from the COD.

Shares of Dilip Buildcon Ltd ended at Rs 215.90, down by Rs 4.35, or 1.98 percent on the BSE.

(Edited by : Shoma Bhattacharjee)