Dilip Buildcon, which specializes in the construction of roads and bridges, said it has been declared the lowest bidder for projects worth Rs 826 cr from Delhi Metro and the PWD in Delhi.
These include part design and construction of an elevated viaduct, an elevated ramp, siding lines, a viaduct to Mukundpur depot and four elevated stations.
These four stations — Bhalswa, Majlis Park Azadpur and Ashok Vihar — are part of the Phase IV expansion of the Delhi Metro, the largest metro rail system in the country.
It has also emerged the lowest bidder for Phase‐IV of Delhi Mass Rapid Transport System and a flyover of the Public Works Department between Azadpur and Derawal Nagar on G.T. Road.
Some of the projects are won as part of a joint venture.
Being qualified as an L1 or Level 1 bidder usually means the company will be awarded these contracts under India’s public tendering laws.
Dilip Buildcon’s shares have fallen from a high of 600-700 rupees in the May-June period to the Rs 400 range by July and have remained there since.
There’s already a routine, temporary ban on the sale and purchase of the company’s shares by key employees, immediate relatives, and other specified and connected persons till December 12, 2019.
Dilip Buildcon, founded in 1988, is headquartered in Bhopal and projects itself as ‘India’s fastest growing road development company’.
It works via two models — EPC Projects and Toll Operations, and develops highways, city roads, culverts, bridges, irrigation facilities, water supply, coal mining, water sanitation and sewage.