Dilip Buildcon Limited has received a Letter of Intent (LOI) from REC Power Development and Consultancy Limited (RECPDCL) for establishing a 400 kV Sub-station at Mekhali along with associated transmission lines in Belagavi District, Karnataka. The project, valued at approximately ₹1850 crore, represents a significant milestone for the infrastructure development company.

Project Overview

The company announced the receipt of the LOI for the transmission project that will be executed under the tariff-based competitive bidding (TBCB) route. RECPDCL is acting as the Bid Process Coordinator (BPC) on behalf of the Government of Karnataka for this intra-state transmission system project.

Project Structure and Terms

Under the agreement, Dilip Buildcon Limited will acquire 100% equity shares of the Project SPV and act as the Transmission Service Provider (TSP). The project involves development, ownership, operation and maintenance of the transmission system on a Build-Own-Operate-Transfer (BOOT) basis.

The scope of work encompasses development, financing, design, engineering, procurement, construction, testing, commissioning, operation and maintenance of transmission assets. The project will be executed under a tariff-based annuity model, with construction and commissioning to be completed within 24 months from the Effective Date.

Business Impact

This LOI confirmation solidifies the ₹1850 crore order that was previously announced, providing clarity on the project specifics and execution framework. The 35-year concession period ensures long-term revenue visibility for the company through the operation and maintenance phase.

The successful receipt of this LOI demonstrates Dilip Buildcon's continued capability to secure significant transmission infrastructure projects. This domestic project strengthens the company's order book and reinforces its position in the competitive infrastructure development sector.

Dilip Buildcon Limited has secured a major infrastructure contract worth Rs 668.02 crores for flood protection works in Gujarat. The company has been declared the L-1 bidder for the construction of flood protection embankment on river Narmada in District Bharuch, marking a significant addition to its project portfolio.

Project Details and Scope

The project has been awarded by the Narmada Water Resources Water Supply & Kalpasar Department, Government of Gujarat. The comprehensive Engineering, Procurement and Construction (EPC) contract encompasses the complete development of flood protection infrastructure along the Narmada river.

Regulatory Compliance and Disclosure

The company has made the announcement in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure provides comprehensive details about the contract terms and conditions as required under the regulatory framework.

Key regulatory aspects of the project include:

• The contract has been awarded by a domestic entity
• No promoter or promoter group companies have any interest in the awarding entity
• The contract does not fall within related party transactions
• General contract terms apply as L-1 bidder

Trading Window Restrictions

Following the announcement, Dilip Buildcon Limited has implemented trading window restrictions as per the company's Code of Conduct for Prevention of Insider Trading. The trading window for dealing in company securities will remain closed for all insiders, designated persons, their immediate relatives, connected persons, fiduciaries and intermediaries for 48 hours from the date the information is made publicly available.

Strategic Significance

This flood protection embankment project represents a substantial infrastructure development initiative aimed at protecting the region from potential flooding of the Narmada river. The 24-month execution timeline indicates the comprehensive nature of the construction work involved in creating robust flood protection infrastructure for District Bharuch.