Patel Engineering Secured ₹1,318.89 Crore Order; Know All the Details

Patel Engineering’s share price edged higher despite broader market weakness after securing a ₹1,318.89 crore contract for the Kondhane Dam project.

Benchmark Indices Trade in the Red

Indian equity benchmark indices were trading in negative territory as of 10:46 AM on May 6, with the Nifty down by 0.26%, slipping below the 24,400 mark. The Sensex also declined by 0.2%. Despite profit booking on Dalal Street, one stock that stood out was Patel Engineering Ltd, whose share price was up 1.44% at ₹43.62.

Kondhane Dam Project Awarded to Patel Engineering

The key driver behind the rise in Patel Engineering’s share price was the company securing a significant contract from CIDCO. The ₹1,318.89 crore Kondhane Dam project has been awarded to Patel Engineering Limited (PEL) for construction and associated works using Roller Compacted Concrete (RCC) Technology.

PEL had previously been declared the L1 (lowest bidder) for this project. Located in Village Kondhane, Taluka Karjat, District Raigad in Maharashtra, the project is scheduled to be completed within 42 months.

The scope of the project includes:

• Civil construction of a 1,209-metre-long and 83-metre-high dam
• Allied infrastructure works
• Hydro-mechanical and electrical works, including installation of three radial gates, electrification, and both manual and automated gate control systems

Management Commentary

Ms Kavita Shirvaikar, Managing Director of Patel Engineering Limited, commented on the development: “We are pleased to have been awarded the Kondhane Dam project by CIDCO, which marks a strong start to FY26 for Patel Engineering. This project is a testament to our proven capabilities in delivering complex infrastructure works, especially in dam construction using advanced technologies like Roller Compacted Concrete. We are committed to executing this project with the highest standards of quality and efficiency. With infrastructure development gaining momentum, we are optimistic about the pipeline ahead and remain focused on contributing meaningfully to the nation’s growth story.”

Company Background

Established in 1949, Patel Engineering Ltd (PEL) is a 76-year-old infrastructure company with a robust presence in the hydropower, tunnelling, and irrigation segments. The company boasts a strong execution track record in both domestic and international markets.

To date, PEL has successfully completed:

• 85+ dams
• 40 hydroelectric projects
• Over 300 km of tunnelling
  

Its clientele primarily includes central public sector undertakings and state government bodies, underscoring its credibility and expertise in delivering large-scale engineering projects.

Disclaimer: The article is for informational purposes only and not investment advice.