Patel Engineering shares zoom 14% on fresh order win, check details

Patel Engineering shares rose over 14% in early deals after the firm announced the receipt of two Letters of Intent from Saidax Engineers and Infrastructure Private Limited, securing orders valued at ₹798.19 crore for excavation, composite works, and coal-related activities. The company said the contracts span a nine-year period and involve overburden removal, coal cutting, loading and transportation, as well as the hiring and maintenance of all required plant, equipment, and staff.

Patel Engineering shares rose 14.42% to Rs 37.96 in early deals today against the previous close of Rs 33.16. Market cap of the firm rose to Rs 3185 crore. Patel Engineering clarified that its promoter group has no interest in the entity awarding the contracts and that the transactions are not classified as related-party dealings.

The company’s order book stood at ₹15,146 crore at the end of Q2FY26, with 62% of projects in the hydroelectric segment. Major ongoing projects include Subansiri HEP (2,000 MW), Dibang Multipurpose Project (2,880 MW), Kiru HEP (624 MW), and Arun-III HE Project (900 MW). The company holds 21 irrigation projects valued at ₹3,023 crore. 

Commenting on the development, Kavita Shirvaikar, Managing Director, stated, “These new projects represents a natural extension of the large-scale infrastructure works we undertake and also open up new avenues. Importantly, these works come in addition to a robust tender pipeline of more than ₹34,000 crores already bid and under evaluation, as well as further opportunities worth ₹18,000 crores expected to come up for bidding before the end of this financial year.”

For the quarter ended Q2FY26, Patel Engineering recorded a consolidated revenue from operations of ₹1,208 crore, marking a 2.91% increase year-on-year. However, the company saw its operating EBITDA fall by 2% year-on-year to ₹159 crore. The EBITDA margin narrowed to 13.31% from 13.81% in Q2FY25, and net profit declined to ₹77 crore from ₹80.7 crore a year earlier.