Patel Engineering JV Wins ₹1,090.45 Crore Contract for Pipeline Network Project in Maharashtra

Patel Engineering Limited (PEL), in a joint venture, has emerged as the lowest bidder (L1) for a ₹1,090.45 crore contract awarded by the Maharashtra Krishna Valley Development Corporation (MKVDC), Pune.

The project involves constructing a Pipe Line Distribution Network for the Nira Deoghar Right Bank Main Canal, spanning from Km 87 to Km 135, along with its distributaries and minors.

Project Details and Scope of Work

The pipeline network project will be located in Kalaj village, Phaltan Taluka, Satara district, Maharashtra. Patel Engineering’s share in the joint venture is 20%. The project is set to be completed within 36 months from the start date.

The scope of work includes excavation, refilling, and laying of pipelines, along with the installation of various valves, chambers, and outlets. Additionally, the contract involves testing and the provision of a five-year Operations, Repairs, and Maintenance (O&M) period post-completion to ensure the smooth functioning of the network.

About Patel Engineering Limited

Founded in 1949, Patel Engineering Limited (PEL) is a 75-year-old infrastructure company with a prominent presence in the hydropower, tunnelling, and irrigation sectors.

The company has a successful track record, having completed over 85 dams, 40 hydroelectric projects, and more than 300 km of tunnelling for major central public sector undertakings (PSUs) and state government organisations in India and internationally.

Stock Performance 

On February 18, 2025, Patel Engineering share price traded 2.96% lower at ₹43.20 at 10:41 AM (IST). Patel Engineering’s share price reached a 52-week high of ₹74.99, and a 52-week low of ₹42.51. As per BSE, the total traded volume for the stock stood at 3.16 lakh shares with a turnover of ₹1.37 crores.

At the current price, Patel Engineering shares are trading at a price-to-earnings (P/E) ratio of 12.45x, based on its trailing 12-month earnings per share (EPS) of ₹3.47, and a price-to-book (P/B) ratio of 1.00, according to exchange data.

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