The scope of the project involves rehabilitation and up-gradation to six-laning of Chandikhole-Bhadrak section of NH-5 (New NH-16) in the state of Odisha to be executed as hybrid annuity project under NHDP Phase V. The cost of the project was Rs 1,522 crore.

The project's appointed date was 16 December 2018 and the scheduled completion date was 12 June 2021, which was 910th day from the appointed date. The revised scheduled completion date including EOT (extension of time) was 24 July 2022. The completion date of the project was 19 February 2023.

Dilip Buildcon is one of the leading full-service infrastructure company with construction capabilities in roads & bridges, mining, water sanitation, sewage, dams, irrigation, industrial, commercial and residential buildings with a presence in over 19 states & 1 union territory.

The company reported net loss of Rs 73.16 crore in Q4 FY23 as compared with net loss to Rs 55.51 crore in Q4 FY22. Net sales jumped 6.7% year on year to Rs 2,841.05 crore in Q4 FY23 over Q4 FY22.