Patel Engineering shares up 4% on Arunachal Pradesh hydro project revival

Patel Engineering shares rose after it bagged a ₹1,700 crore restoration project from the Arunachal Pradesh Government for the development of a Hydropower Project

Shares of Patel Engineering Ltd. rose nearly 4 per cent on Thursday after it bagged a ₹1,700 crore restoration project from the Government of Arunachal Pradesh for the development of a Hydropower Project. 

 

The civil construction firm's stock rose as much as 3.7 per cent during the day to ₹31.9 per share, the biggest intraday rise since December 17 this year. The stock pared gains to trade 2 per cent higher at ₹31.3 apiece, compared to a 0.18 per cent advance in Nifty 50 as of 1:22 PM. 

 

Shares of the company rose for the second straight session. The counter has fallen 37 per cent this year, compared to a 9.2 per cent advance in the benchmark Nifty 50. Patel Engineering has a total market capitalisation of ₹3,111.36 crore. 

 

Patel Engineering bags order from Arunachal Pradesh Govt

 

Patel Engineering signed a memorandum of understanding (MoU) with the Government of Arunachal Pradesh for the restoration and development of the 144 MW Gongri Hydropower Project in West Kameng district, according to an exchange filing.

 

Located near Dirang town on the Gongri river, a tributary of the Bichom river in the Kameng basin, the project was earlier terminated and has now been revived under the Arunachal Pradesh Restoration of Terminated Large Hydropower Policy under Special Circumstances, 2025.

 

The project is estimated to cost ₹1,700 crore and is expected to be completed over four years. It will be implemented on a Build-Own-Operate-Transfer (BOOT) basis with a lease period of 40 years, after which ownership and operational control will be transferred to the Government of Arunachal Pradesh.

 

The scope also covers construction of the dam, powerhouse, and associated civil structures, along with installation and commissioning of turbines and generators, the company said. Managing Director Kavita Shirvaikar said the collaboration underscores the company’s commitment to renewable energy and sustainable development, and will help harness the region’s hydropower potential while delivering socio-economic benefits to local communities.

Patel Engineering Q2 recap

 

Patel Engineering reported an 11.73 per cent fall in consolidated net profit to ₹64.7 crore for the September quarterfiling. The company, however, increased its income to ₹1,271.6 crore in the second quarter, from ₹1,230.9 crore in the year-ago period. For April-September FY26, the company saw its net profit grow by around 20 per cent to ₹144.7 crore, from ₹121.1 crore in the six-month period of the previous fiscal.