Patel Engineering Limited has informed the Exchange regarding 'Press Release Letter of Acceptance ( LOA ) received for construction of Renukaji Dam Project (PKG1) of Rs. 910.08 crores from HPPCL Ltd'.
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Patel Engineering has received the formal Letter of Award (LoA) from Himachal Pradesh Power Corporation Limited (HPPCL) for the Renuka Ji Dam Project (Package-1), valued at Rs. 910.08 crores including GST. The company had earlier been declared the Lowest Bidder (L1) on February 23, 2026, and the LOA now marks the formal commencement of the project. Work involves building three 9.5-metre-diameter diversion tunnels of 1.3-1.6 km length, inlet/outlet structures, about 6 km of approach roads, and hydro-mechanical and monitoring systems at Village Dadahu, District Sirmaur, Himachal Pradesh. The project is to be completed within 30 months. Patel Engineering is a 76-year-old infrastructure firm with a track record of 85+ dams, 40+ hydroelectric projects and over 300 km of tunnelling.
This is a sizeable order win from a state government PSU that strengthens Patel Engineering's order book in its core hydropower and tunnelling segment, providing multi-year revenue visibility. The formal award removes execution uncertainty after the L1 status and is likely to be viewed positively by the market, though actual financial impact will be spread over the 30-month construction period.