Shares of Dilip Buildcon rallied by 6% during the trading session on 5 September after the company’s joint venture (JV) secured an order worth Rs 1,275.3 crore.

The joint venture between Patel Engineering Ltd and Dilip Buildcon has received a letter of acceptance worth Rs 1,275.3 crore for a new project of procurement, engineering, testing, constructing, commissioning, trial run and operation & maintenance for 10 years of Narmada Gambhir Multi Village Drinking Water Supply Scheme District Ujjain in a single package on turnkey job basis.

Earlier in August, the joint venture with Patel Engineering was declared as L-1 bidder for the tender floated by the Madhya Pradesh Jal Nigam, Ujjain, Madhya Pradesh, with a cost of Rs 1,275.30 crore.

On 4 September, the company’s joint venture between Dilip Buildcon Ltd and Vijay Kumar Mishra Construction executed the agreement with the Water Resources Department Madhya Pradesh, Bhopal, which is worth Rs 699.03 crore and has to be completed in 36 months.

At 3:15 pm, the shares of Dilip Buildcon were trading at Rs 324.25 or 2.84% above its previous close on NSE.