Patel Engineering (PEL), in collaboration with its joint venture partner, has been awarded the Letter of Acceptance (LOA) by the Irrigation & CAD Department, Government of Telangana for a contract valued at Rs. 525.36 crore. This contract entails the construction of a Reinforced Cement Concrete (RCC) Protection Wall of 8.5 km each along both the right and left flanks of the Munneru River, stretching from Polepally to Prakashnagar in the city of Khammam, located in Khammam District. Additionally, the contract includes the construction of embankments of 2 kilometers each on either side of the River Munneru near the Nagarjuna Sagar Left Bank Aqueduct in Khammam City, further emphasizing the project`s comprehensive approach to enhancing the area`s irrigation infrastructure and water management systems. Powered by Capital Market - Live News

Irrigation & CAD Department, Government of Telangana has declared Patel Engineering (PEL) along with its JV Partner as L1 for a Rs. 525.36 crore contract for the works involving Construction of RCC Protection Wall along River Munneru on right side and left side flanks between Polepally and Prakashnagar in Khammam City, Khammam District. The project is to be completed in a period of 24 months. The said project is located in the state of Telangana and the project is to be executed in a Joint Venture, of which PEL`s share is 51%. The scope of work involves Construction of RCC Protection wall of 8.5 Km each on Right side and Left side of flanks along River Munneru between Polepally to Prakashnagar in Khammam City and Embankment of 2 Km each on either side of River Munneru near Nagarjuna sagar Left Bank Aqueduct in Khammam city. Powered by Capital Market - Live News

Patel Engineering announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 8 March 2024 .Powered by Capital Market - Live News

Net profit of Patel Engineering rose 120.68% to Rs 68.83 crore in the quarter ended December 2023 as against Rs 31.19 crore during the previous quarter ended December 2022. Sales rose 2.32% to Rs 1061.01 crore in the quarter ended December 2023 as against Rs 1036.98 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales1061.011036.98 2 OPM %13.3915.79 - PBDT68.2983.83 -19 PBT45.1759.88 -25 NP68.8331.19 121 Powered by Capital Market - Live News

The Board of Patel Engineering at its meeting held on 12 February 2024 has approved fund raising up to Rs 500 crore through issue of equity shares by way of qualified institutional placement. Powered by Capital Market - Live News