Dilip Buildcon Emerges L1 Bidder For ₹1,265 Crore Transmission Project; Shares Rise 0.45%

Mumbai, September 21: Dilip Buildcon Limited has been declared the L1 bidder by REC Power Development and Consultancy Limited for the development and operation of a 400 kV transmission system in Gujarat, with an EPC value of ₹1,265 crore excluding GST.

The project involves the development of the Golasur-Paranda 400 kV GIS substation and related transmission infrastructure in Gujarat’s Dahod district.

Dilip Buildcon Gets L1 Status For 400 kV Gujarat Project

According to the company’s exchange filing, REC Power Development and Consultancy Limited (RECPDCL), acting as the Bid Process Coordinator on behalf of Gujarat State Transmission Corporation Limited, selected Dilip Buildcon as the successful bidder for the project.

The project covers the development and operation of an intra-state transmission system for transmission of electricity through tariff-based competitive bidding. Dilip Buildcon will act as the Transmission Service Provider for the project.

The scope includes development, financing, design, engineering, procurement, construction, testing, commissioning, ownership, operation and maintenance of the transmission assets.

Importantly, the filing identifies Dilip Buildcon as the L1 bidder, rather than stating that a final project award or contract has already been executed.

Stock Market Snapshot

The Dilip Buildcon share price stood at ₹427.40, up ₹1.90 or 0.45%, as of 11:35:01 AM IST on September 21, 2026, according to the market data shown.

The stock moved around the ₹426 to ₹428 range for much of the morning before gaining momentum after 10:45 AM. It touched levels above ₹430 during the session before easing back towards ₹427.40 at the latest available timestamp.

The share price movement reflects trading during the session and is not being presented as a direct reaction to the L1 disclosure.

Project Includes 24-Month Construction Period

The transmission project is scheduled to be completed within 24 months from the effective date, covering construction and commissioning.

Once operational, the transmission system will be operated and maintained for 35 years from the Commercial Operation Date (COD).

The project will be implemented under the Build, Own, Operate and Transfer (BOOT) model through the tariff-based competitive bidding route and will be governed by a Transmission Service Agreement.

The company’s filing states that there is no promoter or promoter group interest in the entity awarding the project, and the transaction does not fall under related-party transactions.

EPC Value Put At ₹1,265 Crore

The disclosure gives the EPC value for Dilip Buildcon at ₹1,265 crore, excluding GST.

The project itself is being awarded through the tariff-based competitive bidding structure. The filing does not describe the ₹1,265 crore figure as the total lifetime value of the transmission project. It specifically identifies it as the EPC value for Dilip Buildcon.

This distinction is relevant because the project also involves a long-term 35-year transmission service period after construction and commissioning.

Dilip Buildcon Expands Transmission Infrastructure Portfolio

The project adds another large transmission infrastructure assignment to Dilip Buildcon’s order pipeline.

The company’s role covers the complete project lifecycle, from engineering and procurement to construction, testing and commissioning, followed by ownership, operation and maintenance of the transmission assets.

The 400 kV Golasur-Paranda GIS substation is expected to form a key part of the transmission system covered under the project.

Company Background

Dilip Buildcon is an infrastructure development and construction company with operations across areas including roads, highways, mining, irrigation, water infrastructure and other civil and infrastructure projects.

The company has also expanded its presence across power and transmission-related infrastructure projects, adding diversification beyond its traditional road construction business.

The latest L1 status adds a ₹1,265 crore EPC opportunity to its project pipeline, subject to the completion of the applicable contractual and project processes.

Conclusion

Dilip Buildcon has emerged as the L1 bidder for the development and operation of a 400 kV intra-state transmission system in Gujarat through the tariff-based competitive bidding route.

The project includes the Golasur-Paranda 400 kV GIS substation and will involve development, financing, engineering, procurement, construction, commissioning, operation and maintenance. Construction and commissioning are scheduled within 24 months, followed by a 35-year operational period from COD.

The EPC value attributable to Dilip Buildcon is ₹1,265 crore excluding GST.

Meanwhile, the Dilip Buildcon share price was at ₹427.40, up ₹1.90 or 0.45%, as of 11:35:01 AM IST on September 21, 2026.

Source:

• https://www.nseindia.com/get-quote/equity/DBL/Dilip-Buildcon-Limited
• https://nsearchives.nseindia.com/corporate/DBL_21092026104511_L1.pdf