Patel Engineering Ltd bags project worth Rs. 1318.89 crore from CIDCO

CIDCO has awarded a contract valued at Rs. 1,318.89 crore to Patel Engineering Limited ("Company" or "PEL") for the construction of the Kondhane Dam and its allied works using Roller Compacted Concrete (RCC) Technology.

PEL 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 scope of works includes Civil Works for the dam construction having a length of 1209m and 83m height along it's allied works as well as Hydro Mechanical and Electrical works including 3 radial gates and electrical & manual gate control and other electrification works.

Ms. Kavita Shirvaikar, Managing Director, Patel Engineering Limited said, "We are pleased to have been awarded the Kondhane Dam project by CIDCO, which marks a strong start to FY26 for Patel Engineering. 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. We are committed to executing this project with the highest standards of quality and efficiency. With infrastructure development gaining momentum, we are optimistic about the pipeline ahead and remain focused on contributing meaningfully to the nation's growth story."

Shares of Patel Engineering Limited was last trading in BSE at Rs. 43.01 as compared to the previous close of Rs. 42.59. The total number of shares traded during the day was 292579 in over 1849 trades.

The stock hit an intraday high of Rs. 43.30 and intraday low of 42.30. The net turnover during the day was Rs. 12518692.00.

Source : Equity Bulls

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