Synopsis:The Petroleum and Natural Gas Regulatory Board has awarded a Rs 124 crore Air Turbine Fuel pipeline project connecting Navgam to Sardar Vallabhbhai Patel International Airport. The civil construction company will have exclusive rights to finance, build, operate, and maintain the pipeline under a 25-year authorization.
Shares of a small-cap company engaged in developing infrastructure facilities were in focus after securing a Rs 124 crore Air Turbine Fuel pipeline project to connect Navgam in Gujarat with Sardar Vallabhbhai Patel International Airport, strengthening aviation fuel logistics.
With a market cap of more than Rs 7,000 Cr, Dilip Buildcon Ltd saw its stock hit an intraday low of Rs 430 which is 5 percent lower than the previous close of Rs 452, the stock has given a compounded return of 29 percent in the last three years.
What’s the News?
Dilip Buildcon Limited has received a Letter of Award from the Petroleum and Natural Gas Regulatory Board to develop an Air Turbine Fuel pipeline from Navgam, Gujarat to Sardar Vallabhbhai Patel International Airport. The project grants exclusive authorization to finance, construct, operate, and maintain the pipeline infrastructure.
The project will be executed through a Special Purpose Vehicle with Dilip Buildcon holding 100 percent equity, while EPC works worth approximately Rs 124 crore are expected to be completed within 24 months. The company will also have the right to collect transportation tariffs under a 25-year license period.
The Order Book
The total order book stands at Rs 29,372 crore, this has grown by 96 percent since the start of FY26. When broken down, Mining leads the order book with 20 percent, followed by Road & Highways at 19 percent, Renewable Energy at 18 percent, and Irrigation at 16 percent. Transmission, Special Bridge & Urban Development, and Tunnel each contribute 6 percent, while Metro & Railways hold 4 percent, Optical Fibre 3 percent, and Water Supply 2 percent.
From a model-wise perspective, the company’s order book is heavily driven by the EPC or Engineering, Procurement, and Construction model, which accounts for 86 percent of the total portfolio, highlighting strong execution-led projects. Meanwhile, the HAM or Hybrid Annuity Mode model represents 14 percent.
Business & Financial Overview
Dilip Buildcon Limited is one of India’s fastest-growing Engineering, Procurement, and Construction (EPC) companies, aligning its operations with the country’s infrastructure growth vision. The company is vertically integrated and innovation-focused, executing projects across roads, highways, metro, airports, mining, irrigation, tunnels, renewable energy, and urban development with a strong emphasis on technology and timely delivery.
With over 35 years of experience, the company serves a diverse client base that includes prominent organizations such as Ashok Leyland, Bharat Petroleum, Hindustan Petroleum, Tata Motors, Volvo, and Gulf.
In the latest quarter Dilip Buildcon Ltd saw its YoY revenue fall by 17 percent, going from Rs 2,590 Cr in Q3FY25 to Rs 2,138 Cr in Q3FY26, while the QoQ went up by 11 percent from Rs 1,926 Cr in Q2FY26. The YoY Net Profits growth is at 399 percent, going from Rs 158 Cr in Q3FY25 to Rs 789 Cr in Q3FY26, while the QoQ growth stood at 268 percent from Rs 214 Cr in Q2FY26.
The company has a 3 year sales CAGR of 6 percent, while the TTM is at negative 16 percent. The company’s 3 year profit CAGR is at 44 percent, while the TTM number is at 109 percent. The company also has a ROCE of 15 percent and a ROE of 10 percent.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
The post Infra Stock in Focus After Receiving ₹124 Cr Order to Develop Air Turbine Fuel Pipeline appeared first on Trade Brains.