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Dilip Buildcon Ltd. shares surged over 4% on Monday, December 22, after the company said it was declared the lowest bidder by the Madhya Pradesh Urja Vikas Nigam Ltd (MPUVNL) to set up 1,363.55 MW (AC) grid-connected solar power capacity under the PM KUSUM–C (Feeder Solarisation) scheme.
The project will be implemented via multiple special purpose vehicles (SPVs) and the company will secure an engineering, procurement and construction (EPC) business opportunity of around ₹4,900 crore, which is to be executed over the next 18 months, it said.
Dilip Buildcon said the project falls under the non-DCR category and involves establishing solar PV power plants, with electricity to be sold to Madhya Pradesh Power Management Company Ltd (MPPMCL) under a 25-year power purchase agreement.
Under the scope of work, Dilip Buildcon will handle the development, design, engineering, supply, construction, testing, commissioning, and operations and maintenance of the solar plants, in-line with the MNRE guidelines, MPERC regulations and the model PPA.
The PM KUSUM–C feeder solarisation programme is aimed at reducing power losses and improving the financial health of distribution companies by replacing agricultural power supply with decentralised solar generation.
Last month, the company received a Letter of Acceptance from the NHAI for a ₹879.30 crore road project in Tamil Nadu. The project involves four-laning the Paramakudi–Ramanathapuram section of NH-49 (New NH-87), spanning 46.665 km, within a construction timeline of 24 months, followed by a 15-year operations and maintenance period.
Dilip Buildcon reported a weaker September quarter, with net profit falling 22.8% to ₹182 crore from ₹235 crore a year earlier. Revenue dropped 21.8% year-on-year to ₹1,925 crore, reflecting slower project execution. EBITDA declined 5.8% to ₹470.6 crore, though margins improved to 24.5% from 20.3% last year.
Following the announcement, shares of Dilip Buildcon surged 4.26% to ₹484.80, but have since pared gains to ₹470.20 at 11:21 am, still 2.38% up from the opening price on Monday. The stock has gained 6.19% in the past month.
Also Read: Upper Circuit Stocks: Defence company share surges 5% after twin DRDO approvals
The project will be implemented via multiple special purpose vehicles (SPVs) and the company will secure an engineering, procurement and construction (EPC) business opportunity of around ₹4,900 crore, which is to be executed over the next 18 months, it said.
Dilip Buildcon said the project falls under the non-DCR category and involves establishing solar PV power plants, with electricity to be sold to Madhya Pradesh Power Management Company Ltd (MPPMCL) under a 25-year power purchase agreement.
Under the scope of work, Dilip Buildcon will handle the development, design, engineering, supply, construction, testing, commissioning, and operations and maintenance of the solar plants, in-line with the MNRE guidelines, MPERC regulations and the model PPA.
The PM KUSUM–C feeder solarisation programme is aimed at reducing power losses and improving the financial health of distribution companies by replacing agricultural power supply with decentralised solar generation.
Last month, the company received a Letter of Acceptance from the NHAI for a ₹879.30 crore road project in Tamil Nadu. The project involves four-laning the Paramakudi–Ramanathapuram section of NH-49 (New NH-87), spanning 46.665 km, within a construction timeline of 24 months, followed by a 15-year operations and maintenance period.
Dilip Buildcon reported a weaker September quarter, with net profit falling 22.8% to ₹182 crore from ₹235 crore a year earlier. Revenue dropped 21.8% year-on-year to ₹1,925 crore, reflecting slower project execution. EBITDA declined 5.8% to ₹470.6 crore, though margins improved to 24.5% from 20.3% last year.
Following the announcement, shares of Dilip Buildcon surged 4.26% to ₹484.80, but have since pared gains to ₹470.20 at 11:21 am, still 2.38% up from the opening price on Monday. The stock has gained 6.19% in the past month.
Also Read: Upper Circuit Stocks: Defence company share surges 5% after twin DRDO approvals
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