Shares of Dilip Buildcon rose nearly 4% on February 20 after the company secured orders worth Rs 1,947.06 crore. Shares of the construction and infrastructure company were trading at Rs 211.55 at 9:20 am, up 1.8% on the BSE.

In an announcement, the company said they had received a letter of acceptance for the project from Jal Nigam Maryadit in Bhopal, Madhya Pradesh. The project will be undertaken by Dilip Buildcon Limited-Skyway Infraprojects Pvt Ltd (DBL-SIPL JV).

The project completion period is 24 months. It includes engineering, procurement, construction, test commissioning, commissioning, operation and maintenance of various components of the Rewa-Bansagar Multi-Village Scheme (MVS) in Rewa District in a single package on a turnkey basis, including commissioning and operation & maintenance of the entire water supply scheme for 10 years.

Although the company received no orders in the December quarter, it recently secured orders worth Rs 3,300 crore in Q4FY23. The company has received orders worth Rs 10,100 crore in the last nine months of FY23 and is targeting an order inflow of Rs 13,000-14,000 crore for the whole year. It has tendered 10-15 projects and expects incremental orders of Rs 3,000-4,000 crore in FY23. The company is targeting an order book of Rs 30,000 crore by the end of FY23.

IDBI Capital Markets & Securities said orders were firm, but volatility in operating margins will be critical.