Dilip Buildcon Bags 1,363.55 MW MP Solar Project; Shares Rally 4%

December 22, 2025December 22, 2025

Shares of Dilip Buildcon Ltd surged 4% to touch a day’s high of Rs 484.80 on 22nd December. This happened after the company said it was declared the lowest bidder by Madhya Pradesh Urja Vikas Nigam Ltd (MPUVNL). They will set up 1,363.55 MW (AC) of grid-connected solar power capacity under the PM KUSUM–C (Feeder Solarisation) scheme.

The project will be executed through multiple special purpose vehicles (SPVs). This gives Dilip Buildcon an engineering, procurement and construction (EPC) opportunity of about Rs 4,900 crore. The project is expected to be completed over the next 18 months.

The company said the project falls under the non-DCR category and involves the installation of solar photovoltaic power plants. Power generated will be sold to Madhya Pradesh Power Management Company Ltd (MPPMCL) under a 25-year power purchase agreement. Dilip Buildcon will handle the entire scope of work. This includes development, design, engineering, supply, construction, testing, commissioning, operations and maintenance, all in line with MNRE guidelines and MPERC regulations.

The PM KUSUM–C feeder solarisation scheme aims to cut power losses. It also aims to improve the financial position of distribution companies by replacing agricultural power supply with decentralised solar generation.

Separately, the company received a Letter of Acceptance from NHAI last month for a Rs 879.30 crore road project in Tamil Nadu. The project involves four-laning the 46.665 km Paramakudi–Ramanathapuram stretch of NH-49 (New NH-87). The construction is planned to take place over 24 months and will have a 15-year operations and maintenance phase.

On the financial front, Dilip Buildcon reported a weak September quarter. Net profit fell 22.8% year-over-year to Rs 182 crore, while revenue declined 21.8% to Rs 1,925 crore due to slower project execution. EBITDA slipped 5.8% to Rs 470.6 crore, although margins improved to 24.5% from 20.3% a year earlier.

At 2:10 PM, shares of Dilip Buildcon were trading 3.22% higher at Rs 474.05 on NSE.

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