Dilip Buildcon Limited has officially received the Letter of Award (LOA) from Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) for its major solar power project contract, confirming its position as the successful bidder for the 1,363.55 MW solar power project under the PM-KUSUM-C (Surya Mitra Krishi Solarization) scheme. The company announced this development through a regulatory filing under SEBI Listing Regulations.

Official Contract Confirmation

The infrastructure developer has now formally secured the Engineering, Procurement and Construction (EPC) contract valued at approximately ₹4,900.00 crores (excluding GST). The project involves establishment of grid-connected Solar PV-based power plants under the Feeder Solarization component, representing one of the largest renewable energy contracts in Madhya Pradesh.

Contract Structure and Implementation

The comprehensive EPC contract will be executed through multiple Special Purpose Vehicles (SPVs). Dilip Buildcon will handle the complete project lifecycle including development, design, engineering, supply, construction, testing, commissioning, operation and maintenance of the grid-connected solar PV power plants.

The project operates under a competitive tariff-based Power Purchase Agreement (PPA) governed by MNRE guidelines, MPERC regulations, and Model PPA framework. The power generated will be sold to Madhya Pradesh Power Management Company Limited (MPPMCL) for 25 years from the Scheduled Commercial Operation Date (SCOD).

Regulatory Compliance and Trading Window

As per the company's regulatory filing, the detailed disclosure has been made pursuant to Regulation 30 of SEBI Listing Regulations. The company has also announced closure of the trading window for all insiders, designated persons and their immediate relatives, connected persons, fiduciaries and intermediaries till 48 hours from the date this information is made publicly available.

Strategic Significance

This LOA confirmation establishes Dilip Buildcon as a key player in India's renewable energy infrastructure development. The 25-year power sale agreement provides long-term revenue visibility and operational stability. The project falls under the PM-KUSUM-C scheme's Feeder Solarization component, contributing to India's agricultural sector solarization initiatives and significantly enhancing Madhya Pradesh's renewable energy capacity.

Dilip Buildcon Limited has issued a clarification to BSE Limited regarding a significant increase in its stock trading volume, confirming that no undisclosed material events are driving the unusual market activity. The infrastructure company's response came following an inquiry from the stock exchange on December 18, 2025.

Company's Response to BSE Inquiry

In its official communication dated December 19, 2025, Dilip Buildcon addressed BSE's concerns about the volume surge with reference to letter number L/SURV/ONL/PV/APJ/2025-2026/774. The company emphasized its commitment to regulatory compliance and transparent disclosure practices.

Regulatory Compliance Statement

The company stated that it has been making prompt disclosures of all material events and information within stipulated timelines as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This includes all price-sensitive information that may impact the company's operations or performance.

Dilip Buildcon confirmed that based on available information, there are no material events or price-sensitive developments that are significant and require dissemination to investors. The company explicitly stated it has no comments on the significant increase in stock volume.

Key Points from the Clarification

• All material events have been disclosed as per SEBI regulations
• No undisclosed price-sensitive information exists
• Company maintains full compliance with disclosure requirements
• No specific reason identified for the volume increase
• All relevant operational and performance impacts have been communicated

The clarification was signed by Abhishek Shrivastava, Company Secretary and Compliance Officer, reaffirming the company's commitment to maintaining transparency with investors and regulatory authorities. The company expressed readiness to provide any additional information if required by the exchange.