Dilip Buildcon- Patel Engineering JV Bags Order Worth Rs 1275.30 Crore For Project In MP

Dilip Buildcon Limited - Patel Engineering Limited (JV) [DBL-PEL (JV)] has been declared as L-1 bidder for the tender floated by Madhya Pradesh Jal Nigam "Narmada-Gambhir MVS MPJNM Turn Key" in the state of Madhya Pradesh, District -Ujjain, order worth Rs. 1275.30 Crores.

The contract works involve Engineering Procurement Construction Testing Commissioning Trial Run and Operation and Maintenance for 10 Years of Narmada Gambhir Multi Village Drinking Water Supply Scheme District Ujjain in a Single Package on Turn Key Job Basis.

"The project is to be completed in a period of 24 months and further operations and maintenance for the whole scheme to be carried out for a period of 10 years," Patel Engineering Limited said in an exchange filing ,

It added, "The said project is located in Ujjain and Indore, Madhya Pradesh and the project is to be executed in a Joint Venture, of which PEL's share is 35%, i.e. Rs. 446.36 crore."

Mr Rupen Patel, Chairman and Managing Director, Patel Engineering Limited said, "The Narmada-Gambhir Drinking Water Supply Project would help in solving the shortage of water supply in various villages in the districts of Ujjain and Indore. The project comprises of various activities including construction of intake well cum pump house, construction of RCC approach bridge, laying of water pipelines, construction of water treatment plant, construction of RCC overhead service reservoirs at different villages, more than 50,000 house service connections as well as Design, Supply, Delivery, Erection, Testing, & Commissioning of Automation Components for Monitoring & Maintenance with GPRS Communication with all necessary accessories (SCADA) etc. We are thrilled to be part of this project in providing water supply to several households in the state of Madhya Pradesh."

Shares of Dilip Buildcon last traded at Rs 309.40 apiece on BSE with intraday highs and lows of Rs 313.75 and Rs 306.40, respectively. Stock gained 1.01% in 1 week, while in 3 and 6 months, it gave 85.27% and 56.38%, respectively. In 1 year, it gave 30.99% positive return.

While, the shares of Patel Engineering last traded at Rs 56.55 apiece on BSE with intraday highs and lows of Rs 57.45 and Rs 55.25, respectively. It gained 7% in 1 week, while in 1 year, it has given 127.20% multibagger return.