In an exchange filing, the company attributed the incident to exceptionally heavy rainfall during an active monsoon spell in Wayanad.
Citing preliminary data from the Kerala State Disaster Management Authority, it said the district received around 265 mm of rainfall in the 24 hours preceding the incident, among the highest recorded in the district this monsoon season.
Dilip Buildcon said the project, located in an ecologically sensitive region, is subject to multiple regulatory oversight and monitoring mechanisms, including supervision by the Supreme Court-appointed Central Empowered Committee.
It added that all excavated material is handled in accordance with the approved methodology and that the additional compliance requirements leave “very limited” room for technical error.
The company said its immediate priority remains supporting rescue and relief operations.
It said it is cooperating with the district administration, emergency response agencies and other authorities, while assisting efforts to identify and account for all personnel at the site.
Earlier, Kerala Minister T. Siddique alleged the incident was “man-made” and blamed construction-site negligence, claiming the District Collector had previously warned Konkan Railways about the possibility of a landslide at the site.
Dilip Buildcon said it will fully cooperate with the investigation and continue to share verified information as it becomes available.
In a separate development, multi-asset infrastructure developer had informed that it has received a Letter of Award (LoA) from Odisha Bridge & Construction Corporation Ltd for the construction of a diversion road in Odisha’s Sundargarh district under the Engineering, Procurement and Construction (EPC) model.
The contract is valued at ₹160.20 crore, excluding Goods and Services Tax (GST), and is scheduled to be completed within 18 months.
Shares of Dilip Buildcon ended marginally lower on Tuesday, July 7, with the stock closing 0.15% down at ₹429.25 on the NSE.
