Bhopal based Dilip Buildcon Limited (DBL) is one of the leading full service infrastructure company with construction capabilities in roads & bridges, mining, water sanitation, sewage, dams, irrigatio
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n, industrial, commercial and residential buildings with a presence in over 17 states. DBL is known for its execution capabilities and has completed over 90% of projects before time and winning early completion bonus. During the last five Financial Years ended March 31, 2017, the company completed the construction of 73 road projects in the states of Madhya Pradesh, Gujarat, Himachal Pradesh, Rajasthan, Andhra Pradesh, Karnataka, Telangana, Uttar Pradesh and Maharashtra in India, with an aggregate length of approximately 8,604.61 lane kms, achieving a CAGR of 34.75% of revenue growth on standalone basis for the five Financial Years ended March 31, 2017.
The company's core business is undertaking construction projects across India in the roads sector. The company specializes in constructing state and national highways, city roads, culverts and bridges. Recently, the company expanded into the irrigation and urban development businesses. The company's business comprises: (i) our construction business, under which it undertakes roads, bridges, irrigation, urban development and mining projects on an EPC basis; and (ii) infrastructure development business, under which the company undertakes building, operation and development of road projects on a BOT basis with a focus on annuity projects. The company develops infrastructure across the country in many diverse areas such as roads & bridges, water sanitation & sewage, irrigation, industrial, commercial & residential buildings.
The company prides itself on its engineering & execution capabilities, two areas that are led by its dynamic director Mr. Devendra Jain. The overall achievements of the company are due to the combined efforts of a committed & passionate workforce, adept use of world-class equipment bank and a clear vision & plan of a strong management.
The company has successfully completed some of the most complex & challenging highway development projects in the country. The company has also won numerous awards & recognition for the projects. The company believes in working at highest levels of efficiency & have a created a world record in crushing the most tonnes of stone in a year for which the company was gifted a stone crusher by Metso, the market leader in making stone crushing equipment.
DBL, named after its visionary promoter Mr. Dilip Suryavanshi, is a Bhopal based ISO 9001:2008 Company, with accreditation from the IRQAO and ASCB (E) Accrediting Certifying Bodies, UK. DBL is the successor of Dilip Builders that was founded as a proprietorship concern in 1988-89. The Company was incorporated as Dilip Buildcon Private Limited on June 12, 2006 as a private limited company under the Companies Act, 1956 with the Registrar of Companies, Gwalior. Subsequently, the business of M/s Dilip Builders, a sole proprietorship concern has been taken over by the Company on a going concern basis with effect from April 1, 2007. The Company was converted into a public limited company and a fresh certificate of incorporation was issued by the ROC on August 26, 2010.
In the initial years of its operation the company focused on commercial & residential buildings, creating many marquee projects in Madhya Pradesh. As business grew in the early 90's the company forayed into other types of construction as well. The first move was into water sanitation & sewage. After that the company also did structural designing & construction for clients in the oil & gas industry. At the end of the 1990s when the new central government put forward a vision of connecting the country with roads, DBL saw it as a huge opportunity & dived headfirst into it. After facing stiff resistance on multiple fronts by the established players & stakeholders, DBL finally got a start in the sector with a small road project. After that DBL never looked back & within a short period of six years became the largest road-focused construction firm in Madhya Pradesh. All this was possible because of the company's policy of continuous innovation & relentless pursuit of excellence. Then the company set its sight on becoming the largest road-focused EPC player in the country & started pursuing bigger projects across the country. In the meantime to fuel the nation's growth, the government came up with the PPP model for roads, inviting attention from other industries into the sector. These players were interested in owning & running these road BOT assets but had no expertise or infrastructure in building it. DBL saw itself positioned perfectly to provide EPC services to such players and worked tirelessly to improve its EPC capabilities & invested heavily in procuring the best road building equipment from around the world. This strategy paid off & DBL were able to go beyond the exacting demands of developers such as Essel, JMC projects, Sadbhav, Ashoka, Valecha, PNC, Topworth & many more, all of who have given the company repeat orders.
During the Financial Year 2016-17, Dilip Buildcon entered into the Securities Market through Initial Public Offering (IPO). The Public Issue comprised of Fresh Issue of 19,634,703 Equity shares of Rs. 10/- each at a premium of Rs.209/- per share aggregating to Rs. 43,000.00 Lakhs and an Offer for sale by promoters Mr. Dilip Suryavanshi and Mr. Devendra Jain of 1,136,364 equity shares each and also Offer for sale by the PE Investor BanyanTree Growth Capital LLC of 7,954,545 equity shares. Equity shares of the Company are listed at BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) and are regularly traded on both the exchanges with effect from August 11, 2016.
On 30 January 2017, Dilip Buildcon informed the stock exchanges that the Ministry of Road Transport & Highways, Government of India has recalled the project 'Rehabilitation and up-gradation of Machilipatnam to Avanigadda section from Km 84/550 to Km 124/200 of NH-214A (New NH-216) to two lane with paved shoulder in the state of Andhra Pradesh under NHDP -IV through an Engineering, Procurement and Construction (the EPC) basis where the company had been declared as the successful bidder (L-1) for the project. The Ministry of Road Transport & Highways, Government of India has recalled the project because L-1 Bid price is higher than the departmental estimate i.e. 222.90 crore.
On 7 February 2O17, Dilip Buildcon informed the stock exchanges that the Company has tied up with the Global IT major IBM for Strategic & Transformational journey to address the business needs. IBM will do the process Standardization, Operational Excellence & ERP-SAP S4 HANA on Cloud, Implementation to leverage role-based access to critical data, applications, analytical tools, effectively manage & utilize the largest fleet more than 8,000 Vehicles and Machineries. It will streamline DBL's processes across procurement, projects, asset management, finance, and HR, improve stake holder collaborations. This will help to provide the core support service to drive business value, adoption, alignment of business and IT, strong and sustainable growth by having the all business data & dashboard available online.
On 30 March 2017, Dilip Buildcon informed the stock exchanges that it has received Letter of Award from the National Highways Authority of India (Ministry of Road Transport & Highways, Government of India) for three projects valued at Rs 3269 crore in the state of Maharashtra. On 24 August 2017, Dilip Buildcon Limited (DBL) informed the stock exchanges that the company has signed a Term Sheet with Chhatwal Group Trust (the Investor) in respect of divestment of its entire stake in 24 of its Subsidiary Companies (SPVs)
On 5 January 2018, Dilip Buildcon Limited (DBL) informed the stock exchanges that a new company has been incorporated named as 'DBL-VPR Mining Private Limited' for exploring sector of Mining Activities including but not limited to coal mining. The said company has been incorporated as a subsidiary of Dilip Buildcon Limited. The said company is jointly promoted by Dilip Buildcon Limited and M/s VPR Mining Infrastructure Private Limited, with equity participation of 74% and 26% respectively, in the Equity Share capital of the said company. The new company is formed following discussions between Dilip Buildcon Limited and M/s VPR Mining Infrastructure Private Limited who together have recognized the major synergies that both companies may offer each other in the field of various projects within the Mining Industry.
On 1 March 2018, Dilip Buildcon informed stock exchanges that it has received Letter of Awards by the National Highways Authority of India for two new Hybrid Annuity Projects valued at Rs 4473 crore in the state of Karnataka. On the same day, the company announced that it has declared L-1 bidder by the National Highways Authority of India for three new Hybrid Annuity Projects valued at Rs 5390 crore in the State of Karnataka and Jharkhand.
On 16 March 2018, Dilip Buildcon informed stock exchanges that it has been declared L-1 bidder by the National Highways Authority of India for a new Hybrid Annuity Project valued at Rs 1004 crore in the state of Madhya Pradesh. On 26 March 2018, Dilip Buildcon informed stock exchanges that it has been declared L-1 bidder for new 4 Hybrid Annuity Projects valued at Rs 4114.5 crore by the National Highways Authority of India in the state of Karnataka and Maharashtra.
On 28 March 2018, Dilip Buildcon informed stock exchanges that it has received Letter of Award by the National Highways Authority of India for new 3 Hybrid Annuity Projects valued at Rs 3272.80 crore in the state of Maharashtra. On 29 March 2018, Dilip Buildcon informed stock exchanges that it has received Letter of Award by the National Highways Authority of India for a new Hybrid Annuity Project valued at Rs. 1004 crore in the state of Madhya Pradesh.
On 13 April 2018, Dilip Buildcon informed stock exchanges that it has incorporated 5 new special purpose vehicles companies for 5 projects awarded by the National Highways Authority of India valued at Rs 6306.9 crore. On 21 April 2018, Dilip Buildcon informed stock exchanges that it has incorporated 3 new special purpose vehicles companies for 3 hybrid annuity projects awarded by the National Highways Authority of India valued at Rs 2948.1 crore.
Clarifying to rumors in the market relating to the resignation of statutory auditors of the company, Dilip Buildcon informed stock exchanges on 30 May 2018 that there is no truth in the matter and the rumors are baseless. The company has already declared Audited Financial Results for the Financial Year 2017-18 on May 30, 2018 and M/s Mukund M. Chitale & Co., Chartered Accountants, Mumbai and M/s MSG & Associates, Chartered Accountant, Bhopal, Joint Statutory Auditors of the Company have issued the Auditors' Report for the Financial year ended March 31, 2018 with unqualified opinion in respect of the Standalone and Consolidated Financial Results, the copies of which has already been submitted to the Stock Exchanges.
On 12 July 2018, Dilip Buildcon informed the stock exchanges that it has incorporated a new Special Purpose Vehicle (SPV) for Bellary to Byrapura section of NH-150A on Hybrid Annuity Project under Bharatmala Pariyojana valued at Rs 1313.90 crore by the National Highways Authority of India in the state of Karnataka.
On 12 September 2018, Dilip Buildcon informed the stock exchanges that its consortium with VPR Mining Infrastructure Private Limited has been awarded the contract of Mine Developer cum Operator (MDO) for the Development and Operation of Pachhwara Central Coal Block located at Rajmahal Coalfield, District Pakur, Jharkhand by Punjab State Power Corporation Limited (PSPCL). As per the terms of contract DBL Pachhwara Coal Mines Private Limited (a Special Purpose Vehicle- SPV) was incorporated by DBL having shareholding of 74% and VPR having shareholding of 26% for execution of the project. The project is valued at Rs 32156.04 crore (excluding taxes).
The Board Meeting of Dilip Buildcon at its meeting held on 28 September 2018 considered and approved to take the strategic initiatives by way of backward and forward integration which will add value addition to the company as well as to the stakeholders. The Board also considered and approved the alteration in the main object clause of Memorandum of Association of the company to start new business activity.
On 10 October 2018, Dilip Buildcon informed the stock exchanges that it has been declared L-1 bidder for a new OB Removal Contract Mining Project valued at Rs 1000.40 crore (including Taxes) by the Mahanadi Coalfield Limited (MCL), a subsidiary of Coal India Limited (CIL), Samleshwari OCP, Jharsuguda District in the State of Odisha.
On 2 November 2018, Dilip Buildcon informed the stock exchanges that it has executed the Contract Agreement with Madhya Pradesh Metro Rail Co. Limited, Urban Administration and Development Department, Bhopal (M.P) for Bhopal and Indore metro rail projects Phase-I, valued at Rs 247.06 crore and Rs 228.96 crore respectively.
Clarifying to media reports that Dilip Buildcon has been fined Rs 33.78 crore for excavation work in Maharashtra, the company said in a statement on 7 December 2018 that it has not received any such demand notice from the office of Tahsildar Majalgaon. Based on such media report, the company has approached to the office of Tahsildar Majalgaon and informed vide its letter dated 5 December 2018 the very fact that the company has already deposited Rs 60 lakh on 26 December 2017 as an advance Royalty amount on the basis of self-measurement, however this has not been taken into account by the office of Tahsildar Majalgoan before issuance of such demand notice as reported by the media. Furthermore, the aforesaid facts has taken into cognizance and is appreciated by the office of the Tehsildar, Majalgaon who in turn has requested vide their letter dated 6 December 2018 to the office of Additional Collector to withdraw the notice and penalty imposed thereof inadvertently.
On 7 December 2018, Dilip Buildcon announced that it has received Letter of Acceptance (LOA) for a new OB Removal Contract Mining Project valued at Rs. 1000.36 crore (including Taxes) by the Mahanadi Coalfield Limited (MCL), a subsidiary of Coal India Limited (CIL), Samleshwari OCP, Jharsuguda District in the State of Odisha.
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