Dilip Buildcon divests stake in ten solar projects to Alpha Alternatives Fund Advisors
The total project cost of the solar portfolio is approximately Rs 6,263 crore.
DBL Renewable (DBRL) is engaged in the development, design and engineering of an approximately 1,363 MW (AC) grid-connected solar photovoltaic portfolio across 163 locations in Madhya Pradesh, through ten SPVs.
The portfolio is being developed pursuant to power purchase agreements with Madhya Pradesh Power Management Company (MPPMCL) under the feeder level solarization component of the PM-KUSUM Component C scheme with commercial operations targeted for September 2027.
The solar portfolio has an estimated total project cost of approximately Rs 6,263 crore, including estimated equity investment of approximately Rs 1,253 crore. DBRL and Alpha Alternatives will fund the equity portion of the project cost in the ratio of 51:49 during the construction period.
The transaction is valued at an enterprise value of approximately Rs 6,829 crore, subject to pre-agreed closing adjustments and conditions precedent.
The divestment represents a value-unlocking opportunity for DBL and is aligned with the company?s strategy of building an asset-light, multi-asset development platform focused on generating recurring cash flows and enabling capital recycling for reinvestment in new opportunities.
Devendra Jain, managing director & CEO, Dilip Buildcon, said: This transaction marks another important milestone in our DBL 2.0 journey as we continue to build a multi-asset infrastructure platform anchored by long-duration, contracted assets.
Following the execution of definitive agreements for our Mekhali transmission project, this transaction further builds on our partnership with Alpha Alternatives and enables us to recycle capital early in the asset lifecycle, while maintaining our disciplined focus on strengthening our balance sheet and building a more asset-light business.
Dilip Buildcon (DBL) is a diversified infrastructure company with over three decades of execution experience in large-scale infrastructure development projects across India. The company has a presence in 20 states and one Union Territory, supported by a workforce of 20,581 employees and a fleet of more than 10,275 equipment units.
The company's consolidated net profit declined 50.67% to Rs 112.95 crore on a 9.26% fall in revenue to Rs 2,377.78 crore in Q1 FY27 as compared with Q1 FY26.
The scrip shed 0.95% to currently trade at Rs 421.20 on the BSE.
Powered by Capital Market - Live News