Bhopal-based Dilip Buildcon Ltd. on Thursday said that it has executed a contract agreement with Gujarat Metro Rail Corporation (GMRC) Ltd. for phase-2 of the Ahmedabad Metro Rail Project. The contract order value is Rs 723.45 crore.

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The phase-2 Ahmedabad Metro Rail project will have seven stations. The 7.553 km elevated viaduct construction is scheduled to be completed within 24 months.

In October 2022, Dilip Buildcon received the Letter of Acceptance (LoA) from Gujarat Metro Rail Corporation for the construction work under the Ahmedabad Metro Phase - 2.

The company’s joint venture with Skyway Infraprojects emerged as the lowest bidder for a project worth Rs 1,947 crore from the Madhya Pradesh government in January.

The scope of work of the project included engineering, procurement, construction, testing, commissioning, trial run, and operation as well as maintenance of various components of the Rewa Bansagar MVS in the Rewa district in a single package on a turnkey job basis. The project will be completed in 24 months.

The construction major reported a net profit of Rs 111.03 crore in the December quarter as against a net loss of Rs 19.16 crore in the year-ago quarter.

Dilip Buildcon’s net sales rose 3.4 percent year-on-year (YoY) to Rs 2,322.44 crore from Rs 2,256 crore in the corresponding quarter of the previous year. The net order book as on December 2022 stood at Rs 26,538.5 crore. The roads and highways projects contributed over 39 percent of the order book.

Shares of Dilip Buildcon Ltd. are trading 0.71 percent higher at Rs 198.30.

(Edited by : Rukmani Krishna)