Patel Engineering along with JV partners secures LoA worth ₹126.37 crore

Shares of Patel Engineering closed 1.2% higher on Monday amid broader market recovery at ₹27.6 per share on the NSE. The company announced a major LoA from Maharashtra Krishna Valley Development Corporation.

Patel Engineering, along with joint venture (JV) partners, has received a Letter of Award (LOA) from Maharashtra Krishna Valley Development Corporation for an irrigation project under the Tasgaon Lift Irrigation Scheme in Maharashtra. The total contract value stands at ₹126.37 crore (excluding taxes), with the company’s share in the contract amounting to ₹64.45 crore (51%). The company had earlier been declared Lowest Bidder (L1) for the said project, and the receipt of the Letter of Award (LoA) formalises the award, marking the commencement of project execution.

The Tasgaon Lift Irrigation Scheme is an important irrigation infrastructure initiative aimed at enhancing water availability and supporting agricultural development in the region. The project is expected to improve irrigation access across multiple villages, thereby contributing to higher agricultural productivity and long-term rural development in Maharashtra.

The project involves the construction of an irrigation and water distribution system for a command area of 2,277 ICA across six villages in Satara Taluka. The scope includes headworks, pump houses, switchyards, rising mains, delivery chambers, pumping machinery, and associated civil, mechanical, and electrical works, along with a closed pipe distribution network involving excavation, laying, and jointing of MS, PCCP, and HDPE pipelines. The project is scheduled to be completed within 48 months and is located across the villages of Tasgaon, Varne, Karandwadi, Devkarwadi, Degaon and Nigadi in Satara Taluka, Satara district, Maharashtra.

As of FY26, the total order inflow stood at ₹4,400 crore, held L1 position in deals worth ₹1,660 crore and an MoU was signed for the 144 MW Gongri Hydropower project valued at ₹1700 crore, providing strong visibility to business growth.

In, Q4FY26, the company’s revenue from operations stood at ₹1,421 crore and the EBITDA margin stood at 15%, with net profit of ₹71 crore, up 118% YoY.

Patel Engineering provides a wide range of civil engineering services involved in the design and construction of power projects, hydroelectric projects, commercial buildings, industrial complexes, dams, tunnels, underground structures, steel and concrete structures, bridges, marine works, flyovers and national highways in India and abroad.