Patel Engineering signs MoU for 144 MW Gongri Hydropower Project in Arunachal Pradesh

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Price reactionminutes from the announcement price · days from the prior close

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Nifty Microcap 250market · in no size index; the smallest one is used-0.3%+2.0% vs market

Civil Construction peers, median of 96sector-0.8%+2.4% vs sector

On the reaction day the stock moved 2.0 pts more than Nifty Microcap 250 and 2.4 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 signed an MoU with the Government of Arunachal Pradesh to restore and develop the 144 MW Gongri Hydropower Project in West Kameng District. Valued at around Rs 1,700 crores, it is the first project revived under the state's 2025 Restoration of Terminated Large Hydropower Policy. Patel Engineering will execute the full lifecycle on a BOOT basis for 40 years, with completion in about 4 years. Scope covers DPR, design, dam and powerhouse construction, electro-mechanical works, transmission, and O&M.

Likely market impact

Adds a Rs 1,700 crore clean energy project to the order book, boosting long-term revenue visibility, though execution and timeline risks remain.