Dilip Buildcon touched a fresh day’s high on Monday after the company emerged as the lowest bidder for a Rs 1,265 crore transmission project.

Here is what triggered the move. Dilip Buildcon has been declared the L1, or lowest, bidder by REC Power Development and Consultancy Limited for an intra state transmission project in Maharashtra.

The deal is worth Rs 1,265 crore, excluding GST, and will be developed under the tariff based competitive bidding route.

The company informed the exchanges about this development through a regulatory filing.

The project involves setting up a 400 KV GIS switching station at Solapur or Paranda in Dharashiv district.

Dilip Buildcon will build, own, operate and eventually transfer this asset, and construction is expected to be completed within 24 months.

To execute the project, the company will pick up 100% equity in a special purpose vehicle and function as the Transmission Service Provider for the asset going forward. This is not the only big win for Dilip Buildcon this month.

Just about two weeks earlier, on September 9, the company had received a Letter of Intent worth Rs 1,800 crore for an LPG pipeline project connecting Paradip in Odisha to Raipur in Chhattisgarh.

With this transmission order added in, the company’s order book, which stood at around Rs 28,830 crore as of March this year, continues to grow.

These wins also mark Dilip Buildcon’s gradual shift beyond road construction into sectors like power transmission and pipelines.

At 12:35 pm, Dilip Buildcon shares are currently trading at Rs 426.50 on the NSE.

The company’s market capitalisation stands at close to Rs 6,927 crore, with the fresh order adding to investor interest in its expanding non highway business.

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