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Mon, 28 Sept 2026
09:56:45 am
Mon, 28 Sept 2026
09:56:45 am
Rudransh Sangwan
Published at: September 28, 2026, 6:05 AM
Synopsis
Dilip Buildcon won two Maharashtra projects worth Rs 1,839.70 crore, including a Solapur road corridor and Yavatmal power transmission project.
Dilip Buildcon has secured two projects in Maharashtra with a combined EPC value of Rs 1,839.70 crore, excluding GST. The projects cover a four lane elevated road corridor in Solapur and a 400 KV transmission system in Yavatmal.
The company received the two project wins as its shares traded 1.9% lower at Rs 404.75 on Monday, September 28. The stock is down 15% so far this year.
The road project has an EPC value of Rs 688.23 crore, while the transmission project is worth Rs 1,151.47 crore for Dilip Buildcon. The two projects add to the company's recent order activity in Maharashtra.
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The first project relates to the construction of a four lane elevated corridor from Old Pune Naka to Boramani Naka on NH 65 in Solapur City. The National Highways Authority of India has declared Dilip Buildcon the L 1 bidder for the project.
The project has a value of Rs 688.23 crore, excluding GST, and will be executed under the Hybrid Annuity Mode.
The second project involves the development and operation of a 400 KV AIS Yavatmal, Babhulgaon transmission system in Maharashtra. REC Power Development and Consultancy Ltd. was the bid process coordinator for the project on behalf of Maharashtra State Transmission Utility.
The transmission project will be developed under a Build, Own, Operate and Transfer model through the tariff based competitive bidding route.
| Project | Location | EPC value | Project structure |
|---|---|---|---|
| Four lane elevated corridor | Solapur, Maharashtra | Rs 688.23 crore | Hybrid Annuity Mode |
| 400 KV AIS transmission system | Yavatmal, Maharashtra | Rs 1,151.47 crore | BOOT |
The transmission project is scheduled for construction and commissioning within 24 months. It will have a 35 year tenure from the commercial operation date.
The two projects follow another Maharashtra transmission order worth Rs 1,265 crore that Dilip Buildcon won the previous week. This has increased the company's recent order activity in the transmission segment.
Dilip Buildcon has also been working on an asset light infrastructure model. The company recently signed agreements to divest its stake in 10 special purpose vehicles developing a 1,363 MW solar portfolio in Madhya Pradesh to Alpha Alternatives and its affiliates.
The move is part of the company's efforts to recycle capital from existing infrastructure assets into new opportunities.
Dilip Buildcon has also won other infrastructure projects recently, including Dilip Buildcon's Chhattisgarh water project, adding to its order activity across different infrastructure segments.
The combined EPC value of the latest two projects is Rs 1,839.70 crore, excluding GST. The transmission project accounts for the larger share of the value, while the Solapur corridor adds a separate road construction order.
| Particulars | Details |
|---|---|
| Combined EPC value | Rs 1,839.70 crore |
| Solapur elevated corridor | Rs 688.23 crore |
| Yavatmal transmission project | Rs 1,151.47 crore |
| Transmission project construction period | 24 months |
| Transmission project tenure | 35 years |
| Recent Maharashtra transmission order | Rs 1,265 crore |
| Stock price cited | Rs 404.75 |
| Stock movement on Monday | Down 1.9% |
| Stock movement this year | Down 15% |
The project values exclude GST, so the combined figure of Rs 1,839.70 crore represents the EPC value stated in the project announcements before GST.
Dilip Buildcon is also changing the way it manages its infrastructure assets. The company has agreed to divest its stake in 10 special purpose vehicles that are developing a 1,363 MW solar portfolio in Madhya Pradesh.
The portfolio has an estimated project cost of Rs 6,263 crore and an enterprise value of about Rs 6,829 crore.
Dilip Buildcon said the transaction will help recycle capital into new opportunities and strengthen its balance sheet. The solar asset transaction therefore sits alongside the company's recent project wins as part of its broader infrastructure strategy.
The company's recent Dilip Buildcon project win also shows its activity across infrastructure projects beyond a single business segment.
The latest awards give Dilip Buildcon work across both road infrastructure and power transmission. The Solapur project adds an elevated road corridor under the Hybrid Annuity Mode, while the Yavatmal project gives the company a transmission system with a 35 year tenure from the commercial operation date.
The transmission project also has a defined construction and commissioning schedule of 24 months. This provides a specific timeline for the project to move from development to operation.
The recent Rs 1,265 crore Maharashtra transmission order adds further context to the latest award. However, the source does not provide a combined order book figure or any estimate of the revenue or profit contribution expected from these projects.
Dilip Buildcon shares were trading at Rs 404.75, down 1.9% on Monday, September 28, despite the announcement of the two projects.
The stock is down 15% so far this year. The source does not provide a specific reason for the day's decline, so the stock movement cannot be directly linked to any particular factor based on the available information.
The recent project wins and the share price movement therefore represent separate developments. The project announcements provide details about new work secured by the company, while the stock movement reflects trading activity in the market.
Investors will be able to track the progress of the two projects, particularly the 24 month construction and commissioning schedule for the Yavatmal transmission system. The Solapur elevated corridor will also be relevant as Dilip Buildcon moves ahead with its Hybrid Annuity Mode project.
Other factors to watch include the company's recent transmission orders, the progress of its solar asset divestment and the use of capital released from that transaction.
The company has said the solar transaction will help recycle capital into new opportunities and strengthen its balance sheet. The source does not provide further details on the timing of capital deployment or the specific projects that could receive the recycled capital.
Dilip Buildcon is involved in infrastructure projects, with the latest announcements covering road construction and power transmission. The company is currently adding projects in Maharashtra while also working to recycle capital from its existing solar infrastructure assets.
The latest two awards bring together an Rs 688.23 crore Solapur road project and an Rs 1,151.47 crore Yavatmal transmission project. The transmission award has a 24 month construction and commissioning period and a 35 year tenure from commercial operation.
Dilip Buildcon has won two Maharashtra projects with a combined EPC value of Rs 1,839.70 crore, excluding GST. One is a four lane elevated corridor in Solapur worth Rs 688.23 crore, while the other is a 400 KV transmission system in Yavatmal worth Rs 1,151.47 crore.
Dilip Buildcon's Solapur elevated corridor project has an EPC value of Rs 688.23 crore, excluding GST. The project covers a four lane elevated corridor from Old Pune Naka to Boramani Naka on NH 65 in Solapur City and will be executed under the Hybrid Annuity Mode.
Dilip Buildcon's Yavatmal transmission project has an EPC value of Rs 1,151.47 crore, excluding GST. The project involves a 400 KV AIS Yavatmal, Babhulgaon transmission system in Maharashtra and will be developed under the BOOT model.
The Yavatmal transmission project is scheduled for construction and commissioning within 24 months. The project will then have a 35 year tenure from its commercial operation date.
Dilip Buildcon shares were trading at Rs 404.75 on Monday, September 28, according to the supplied material. The shares were down 1.9% on the day and were down 15% so far in the year.
Dilip Buildcon has signed agreements to divest its stake in 10 special purpose vehicles developing a 1,363 MW solar portfolio in Madhya Pradesh. The portfolio has an estimated project cost of Rs 6,263 crore and an enterprise value of about Rs 6,829 crore.
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