Dilip Buildcon shares gain after emerging L1 bidder for ₹901 crore Srinagar project

Résumé détaillé

Dilip Buildcon emerged as the L-1 bidder for a ₹901.43 crore project, including GST, to develop Phase I, Package 3 of the Satellite Township at Rakh Gund Aksha, Bemina, Srinagar,…

The shares of Dilip Buildcon gained over 2% in intraday trading on Wednesday, November 11, after the company secured a township project worth ₹901 crore in Srinagar.

The company emerged as the L-1 bidder for a ₹901.43 crore project, including GST, to develop Phase I, Package 3 of the Satellite Township at Rakh Gund Aksha, Bemina, Srinagar, on an engineering, procurement and construction (EPC) basis, according to a regulatory filing on Wednesday.

An Engineering, Procurement and Construction (EPC) contract is a project delivery model in which a single contractor takes responsibility for designing the project, sourcing materials and equipment, and completing construction.

The tender was issued by National Buildings Construction Corporation (NBCC) India Ltd for Jammu and Kashmir. The construction work must be completed within 24 months, after which the company will be responsible for the project's operation and maintenance for two years.

The shares of Dilip Buildcon jumped as much as 2.5% after the order but have since pared some of their gains to trade around 1.67% higher as of 12.22 pm on Wednesday.

The company's shares have fallen 13.95% in the year-to-date period with losses of 13.56% in the trailing 12-month period, as per data available at the time of writing.

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