Patel Engineering Limited has informed the Exchange regarding a press release dated May 23, 2025, titled "Press Release Letter of Acceptance ( LOA ) received for an Irrigation Project of Rs.958.33 crores from Maharashtra Krishna Valley Development Corporation. Patel Engineering sshare in the contract is Rs. 191.67 Crore.".
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Patel Engineering has received the Letter of Acceptance (LOA) for an irrigation project valued at Rs. 958.33 crores awarded by Maharashtra Krishna Valley Development Corporation, Pune. The project involves construction of a Pipe Line Distribution Network for the Nira Deoghar Right Bank Main Canal (KM 87 to 135) along with its distributaries and minors in Village Kalaj, Taluka Phaltan, District Satara, Maharashtra. Patel Engineering is executing this through a Joint Venture where its share is 20%, translating to Rs. 191.67 crores. The project is scheduled for completion in 36 months, with an additional 5-year Operations, Repairs and Maintenance period. The company had earlier been declared the lowest bidder (L1) for this project on February 18, 2025.
This is a positive development as it converts the earlier L1 status into a confirmed order, adding Rs. 191.67 crores to Patel Engineering's order book. The project strengthens the company's presence in the irrigation segment, one of its core areas, and supports revenue visibility over the next 3 years plus 5 years of maintenance.