Shares of Dilip Buildcon Ltd declined after gaining as much as 6 per cent in Wednesday’s trade, even after the company announced it had emerged as the lowest bidder (L1) for a project worth Rs 1,115.37 crore in Kerala.

In an exchange filing, the company said its joint venture with PSP Projects Ltd — DBL-PSP JV (Dilip Buildcon 74 per cent and PSP 26 per cent) — has been declared the L1 bidder for infrastructure works at Pudussery Central and Kannambra of Palakkad Node in Kerala. The project is part of the extension of the Chennai–Bengaluru Industrial Corridor (CBIC) to Kochi via Coimbatore. Advertisement

The order, awarded by the Kerala Industrial Corridor Development Corporation Ltd, is on an engineering, procurement and construction (EPC) basis with a completion timeline of 42 months.

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