Dilip Buildcon has sold 24 road assets of a total project value of Rs 10,500 crore to the Chhatwal Group Trust, which runs the Mumbai-based Shrem Group. The deal is estimated at Rs 1,600 crore.
Of the 24 road assets, 14 are operational projects, 4 are under construction, while 6 are hybrid-annuity model (HAM) projects at different stages of implementation.
The road developer has invested a total of Rs 682 crore (both in equity and debt) while Rs 841.6 crore is yet to be invested.
Dilip Buildcon’s core business is undertaking construction projects across India in the roads and irrigation sectors. They specialize in constructing state and national highways, city roads, culverts and bridges.
