Patel Engineering Limited has informed the Exchange regarding 'Press Release - PATEL ENGINEERING BAGS A HYDROPOWER PROJECT OF RS. 239.98 CROREFROM NHPC LTD.'.
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Patel Engineering Limited has received a Letter of Acceptance (LOA) from NHPC Ltd for a hydropower project valued at Rs. 239.98 crore (inclusive of taxes). The scope covers modification of a diversion tunnel into a tunnel spillway arrangement, including civil and hydro-mechanical works for Package 6 of the Teesta-V Power Station in South District of Sikkim, to be completed within 18 months. The project includes construction of the tunnel spillway, gate operation chamber and shaft, energy dissipation structures, dyke, environmental flow tunnel, and supporting infrastructure. The company had earlier intimated its L1 (lowest bidder) status for this project on September 20, 2024, so this formalises the win.
This order adds to Patel Engineering's hydropower order book and reinforces its presence in the North East, where it is already executing NHPC's Teesta-VI HEP project near Singtam. For shareholders, it signals continued order flow from a key government PSU client, though the stock may react mildly as the L1 status was already in the public domain since September 2024.