Project Execution Milestone
Dilip Buildcon Subsidiary Receives Appointed Date for ₹2,905 Cr Rajasthan Water Project
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Dilip Buildcon Limited (DBL) announced that its subsidiary has received the appointed date for a ₹2,905 crore water infrastructure project in Rajasthan under the Hybrid Annuity Model, marking commencement of execution
PRICE-SENSITIVE TRIGGER
Event: Receipt of Appointed Date for Project
Type: Project Execution Milestone
Impact: Positive
Immediate Effect: Triggers project execution phase and revenue recognition visibility over the project lifecycle
Key Metrics:
- Project Cost (including GST): ₹2,905 crore
- Completion Period: 27 months
- O&M Duration: 20 years
Highlight:
- Large Infrastructure Order Execution Start: ₹2,905 crore
What Happened ?
Dilip Buildcon Limited informed that its subsidiary, DBL ERCP Bandh Baretha Private Limited, has received the appointed date from Rajasthan Water Grid Corporation Limited on April 29, 2026.
This marks the official commencement of execution for a major water infrastructure project in Rajasthan
key highlights
Project Overview:
- Project: Construction of feeder pipeline from Isarda to Bandh Baretha (Rajasthan)
- Includes complete infrastructure components + O&M
- O&M tenure: 20 years
- Mode: Hybrid Annuity Model (HAM)
- Executing entity: DBL subsidiary
Execution Timeline:
- Appointed date received: April 29, 2026
- Construction period: 27 months
- Revenue visibility improves as execution begins
Business Impact:
- Strengthens DBL’s water infrastructure portfolio
- Adds long-term annuity income stream
- Enhances order book execution pipeline
- Supports stable cash flows via HAM structure
Note:
HAM projects typically provide balanced risk with predictable inflows
Risk Analysis
Key Risks
- Project execution delays risk
- Cost overruns or margin pressure
- Dependence on government payments
- Working capital requirements for EPC phase
Worst Case Scenario
- Delays or cost inflation could impact margins and cash flows despite secured project value
Risk Level: Medium
Company Commentary
- Project aligned with prior announcements (Aug & Sept 2025)
- Receipt of appointed date enables project commencement
- Execution under Hybrid Annuity Model ensures structured revenue visibility
- Company continues to expand infrastructure portfolio
Official Exchange Filing: Dilip Buildcon Limited