Patel Engineering soars on bagging orders worth Rs 798 crore

Patel Engineering surged 14.75% to Rs 38.05 after securing two letters of intent for major excavation and coal-handling work at the Jhiria West OCP project in the Hasdeo area of Bilaspur, Chhattisgarh.

The mandates have been awarded by Saidax Engineers and Infrastructure for work carried out on behalf of South Eastern Coalfields. The combined project value stands at Rs 798.19 crore.

The scope covers overburden removal, rehandling, coal cutting with surface miners, loading and transportation of coal and the hiring and maintenance of all required equipment, staff and labour. The execution period is nine years.

The company confirmed that the orders are from a domestic entity and do not fall under related-party transactions.

Managing director Kavita Shirvaikar said: "These new projects represents a natural extension of the large-scale infrastructure works we undertake and also open up new avenues. Importantly, these works come in addition to a robust tender pipeline of more than Rs 34,000 crore already bid and under evaluation, as well as further opportunities worth Rs 18,000 crore expected to come up for bidding before the end of this financial year. Looking ahead, nearly Rs 1 lakh crore of projects are anticipated to come up for bidding over the next one to two years in the core areas that we operate. With these opportunities, we are confident that our order book will grow substantially in the coming year and beyond."

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.

On a consolidated basis, net profit of Patel Engineering declined 2.72% to Rs 71.05 crore while net sales rose 2.91% to Rs 1208.47 crore in Q2 September 2025 over Q2 September 2024.

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