Patel Engineering added 1.67% to Rs 43.73 after the company said that it has bagged a contract for the construction of the Kondhane Dam and its allied works from CIDCO worth Rs 1,318.89 crore.
The company had earlier been declared the L1 (lowest bidder) for this project.
The project is located in Village Kondhane, Taluka Karjat, District Raigad in the state of Maharashtra, and is scheduled to be completed within 42 months. The project would be executed using Roller Compacted Concrete (RCC) Technology.
The scope of works includes civil works for the dam construction having a length of 1209m and 83m height along its allied works as well as hydro mechanical and electrical works including 3 radial gates and electrical & manual gate control and other electrification works.
Kavita Shirvaikar, managing director, Patel Engineering, said: We are pleased to have been awarded the Kondhane Dam project by CIDCO, which marks a strong start to FY26 for Patel Engineering.
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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.
Patel Engineering is a construction company specializing in the hydropower and irrigation segments. It is engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures, and other kinds of heavy civil engineering works.
The companys consolidated net profit rose 14.49% to Rs 80.42 crore on a 13.61% increase in revenue from operations to Rs 1,205.5 crore in Q3 FY25 as compared with Q3 FY24.
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