Dilip Buildcon Limited (DBL) has signed an agreement with the Chhatwal Group Trust (Shrem Group) to sell 24 of its road assets. These include 14 operational projects and 10 under construction projects, for which DBL will receive about Rs 16 billion over the next two years. The company will receive an additional Rs 4 billion over the next 15 years from Shrem for the operations and maintenance of these assets. Six of these projects had been recently awarded to the company under the hybrid annuity model (HAM). DBL has already invested Rs 6.82 billion across the24 projects and will continue to invest in the under-construction projects towards the equity portion that is required for HAM projects.
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