Patel Engineering Limited has informed the Exchange regarding a press release dated April 23, 2026, titled "Press Release PATEL ENGINEERING HAS BEEN DECLARED LOWEST BIDDER (L1) BY SJVN LOWER ARUN POWER DEVELOPMENT COMPANY (P) LTD. (SLPDC) FOR PACKAGE 2 OF THE 669 MW LOWER ARUN HYDROPOWER PROJECT IN NEPAL VALUED AT ₹ 1,593.08 CRORES.".

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On the reaction day the stock moved 0.5 pts more than Nifty Microcap 250 and 0.7 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Patel Engineering Limited has been declared the Lowest Bidder (L1) by SJVN Lower Arun Power Development Company (P) Ltd. for Package 2 of the 669 MW Lower Arun Hydro-Electric Project in Nepal. The contract is valued at ₹1,593.08 crores (inclusive of VAT) and involves civil and hydro-mechanical works including construction of head race tunnels, surge shaft, pressure shafts, power house, switchyard, and associated infrastructure. The project will be executed over 54 months at a site near Tumlingtar in Nepal's Sankhuwasabha District. This is an international contract awarded by a subsidiary of SJVN (a central PSU), and the company's promoters have no interest in the awarding entity.

Likely market impact

This is a major order win worth over ₹1,600 crores, representing significant new order inflow for the infrastructure company. Being L1 bidder indicates competitive pricing and strong technical capability, which is positive for future order book growth and revenue visibility.