Shares of Patel Engineering Ltd surged 5% after the company announced it has emerged as the lowest bidder (L1) for two major infrastructure projects worth a combined ₹2,036.89 crore. The twin orders span the hydropower and urban infrastructure sectors, underlining the company’s diversified project portfolio and execution capabilities.
In a regulatory filing, the Mumbai-based infrastructure firm stated it secured a ₹718 crore contract from the North Eastern Electric Power Corporation Limited (NEEPCO). The project involves civil works and commissioning of hydro-mechanical components for the 240 MW HEO Hydro Electric Project in Arunachal Pradesh, expected to generate 1,000 million units of power annually. Completion is targeted within 44 months.
Simultaneously, Patel Engineering was declared L1 for a ₹1,318.89 crore urban infrastructure project by the City & Industrial Development Corporation of Maharashtra Ltd (CIDCO). This project includes construction of the Kondhane Dam in Karjat, Raigad, using Roller Compacted Concrete Technology. The dam will span 1,209 meters in length and stand 83 meters tall, with completion expected in 42 months.
These new project wins reinforce Patel Engineering’s strong foothold in critical infrastructure, with a legacy of over 85 dams, 40 hydro plants, and 300+ km of tunnelling. As investor confidence rises, the stock’s recent uptick reflects market optimism in the company’s robust growth trajectory.
Patel Engineering shares opened at ₹47.24 today. As of 9:19 AM, the shares have reached a high of ₹48.60 and dipped to a low of ₹46.26. The stock has shown notable volatility, with a 52-week high of ₹74.40 and a low of ₹35.68.
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