Patel Engg gains after securing Rs 910-cr project in Himachal Pradesh

Patel Engineering gained 2.94% to Rs 28.03 after the company said that it has been declared the lowest bidder (L1) from Himachal Pradesh Power Corporation (HPPCL) for the construction of the Renukaji Dam Project in Himachal Pradesh.

The scope of works under this package comprises the construction of three diversion tunnels, each with a diameter of 9.5 meters and lengths of 1379 meters, 1468 meters, and 1590 meters respectively. The package also covers the development of three inlet and outlet portals for the diversion tunnels, along with the construction of access roads spanning 6 kilometers. In addition, the project involves the installation of hydro-mechanical gates for the diversion tunnels and the execution of instrumentation works to ensure operational efficiency and safety.

The Renuka Ji Dam Project is a critical initiative aimed at enhancing water storage capacity, ensuring reliable water supply, and supporting hydropower generation.

The order, valued at Rs 910 crore, is scheduled to be completed within 30 months.

Kavita Shirvaikar, managing director, Patel Engineering said: "Being declared the L1 bidder for the Renuka Ji Dam Project is a proud milestone for us, reaffirming our strong capabilities in delivering large-scale infrastructure projects and our role as a trusted partner in Indias growth journey. This project not only strengthens our portfolio but also positions us to contribute meaningfully to sustainable water management and hydropower development. Looking ahead, we remain committed to leveraging innovation, engineering excellence, and execution efficiency to deliver projects that create lasting value for communities and drive the nations infrastructure forward."

Patel Engineering operates in the hydropower, tunneling and irrigation segments. The company has executed projects in India and overseas, including more than 85 dams, 40 hydroelectric projects and over 300 km of tunneling for central PSUs and state government agencies.

The companys consolidated net profit declined 11.8% to Rs 70.35 crore despite a 2.8% increase in net sales to Rs 1,239.35 crore in Q3 FY26 over Q3 FY25.

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