Rs 15,000+ crore order book: Construction Company Has Been Declared Lowest Bidder (L1) by HPPCL for Rs 910.08 Crore Project

On Monday, shares of Patel Engineering Ltd surged 4.85 per cent to Rs 28.55 per share from its previous closing of Rs 27.23 per share. The stock’s 52-week high is Rs 46.58 per share while its 52-week low is Rs 26.16 per share. The company has a market cap of over Rs 2,700 crore and the stock is up by 9 per cent from its 52-week low of Rs 26.16 per share.

Patel Engineering Limited (PEL) has been declared the lowest bidder (L1) by the Himachal Pradesh Power Corporation Limited (HPPCL) for the Renukaji Dam Project (Package-1). Valued at Rs 910.08 crore including GST, this significant infrastructure contract is located at Village Dadahu in the Sirmaur district of Himachal Pradesh. The project is a key component of India’s broader strategy to enhance water storage and hydropower generation, with a strict completion timeline of 30 months from the start date.

The technical scope of the work involves the Construction of three major diversion tunnels, each featuring a 9.5-meter diameter and varying lengths of 1379, 1468, and 1590 meters. PEL will also be responsible for developing the inlet and outlet portals, constructing 6 kilometres of access roads, and installing hydro-mechanical gates. To ensure long-term operational safety and efficiency, the company will implement comprehensive instrumentation works across the site, marking a vital step forward for regional water resource management.

About the Company

Patel Engineering Ltd (PEL), established in 1949, is a 76-year-old construction company with a significant specialisation in the hydropower and irrigation segments. The company engages in various heavy civil engineering works, including the construction of dams, bridges, tunnels, roads, piling works and industrial structures. PEL boasts a consistent domestic and international execution track record, having completed over 85 dams, 40 hydroelectric projects and more than 300 km of tunnelling, primarily for central PSUs and state government organisations. Their expertise lies in technology-intensive areas such as hydropower, irrigation and water supply, urban infrastructure and transportation, with a specific focus on tunnels and underground works for hydroelectric and transportation projects.

Order Book: As of December 31, 2025, the company’s order book stands at Rs 15,123.20 crore (Including L1 Orders). Segment-wise order book includes hydroelectric (58.55 per cent), irrigation (18.86 per cent), tunnel (6.21 per cent, road (1.42 per cent) and other (14.96 per cent). 

Disclaimer: The article is for informational purposes only and not investment advice.