Dilip Buildcon Limited on Monday announced that it has been declared as Lowest (L-1) bidder for a new HAM project worth Rs 780.12 crore by National Highways Authority of India (NHAI).

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The project is for six-lanning of 16-kilometer access controlled Greenfield highway from Audireddipalle to Mallapalle, Bengaluru-Vijayawada Economic Corridor on HAM mode under the Bharatmala Pariyojana Phase-I in Andhra Pradesh (package-7).

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Dilip Buildcon, a construction and infrastructure development company, in a regulatory filing at exchanges said, “The Company has declared as L-1 bidder for the tender floated by the National Highways Authority of India (NHAI) on Hybrid Annuity basis in the state of Andhra Pradesh.”

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

Shares of Dilip Buildcon closed 4.26 percent down at Rs 175.45 per share at the National Stock Exchange (NSE) today.

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