Shares of Dilip Buildcon Ltd rallied 5% on Wednesday, 24 September, after the company announced that its joint venture received a project worth Rs 1,115.37 crore by the Kerala Industrial Corridor Development Corporation Ltd.

Dilip Buildcon announced on Tuesday that its joint venture with PSP Projects (DBL-PSP JV) was the lowest bidder for a project floated by Kerala Industrial Corridor Development Corporation Ltd.  

The Rs 1,115.37 crore contract covers infrastructure design, construction, testing, commissioning, operation, and maintenance at Pudussery Central and Kannambra in Palakkad. The project is part of the extension of the Chennai-Bengaluru Industrial Corridor to Kochi through Coimbatore, according to an exchange filing.

The project will be implemented through engineering, procurement, and construction, with a 42-month completion timetable, according to the announcement.

The company’s order book of Rs 14,923 crore enables clear revenue visibility.  It is backed by a strict profit-driven bidding strategy and is spread throughout important industries.

According to Anand Rathi Research, Dilip Buildcon has received significant orders after Q1, including two projects totalling over Rs 3,800 crore, indicating a good inflow trend for FY26.  Management anticipates order inflows to pick up in the second half and has forecast sales of Rs 80-85 billion in FY26, with an Ebitda margin of around 11%, it said.

The company’s mine developer and operator (MDO) business continues strong, with the Pachwara mine achieving a peak capacity of over 7 million tonnes and the Siarmal mine reaching approximately 19 million tonnes, exceeding expectations, according to Anand Rathi.

However, at 12:19 pm, the shares of Dilip Buildcon shed all their early gains and were trading 0.55% lower at Rs 552.10 on NSE.

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