Rs 15,000+ Crore Order Book: Penny Stock Under Rs 30 Receives Letter of Award from HPPCL
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Patel Engineering Ltd secures Rs 910 crore Renuka Ji Dam project from HPPCL, adding to its Rs 15,000+ crore order book. Shares trade flat near Rs 25.
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Patel Engineering Ltd announce that it has received the Letter of Award (LoA) from Himachal Pradesh Power Corporation Limited (HPPCL) for the prestigious Renuka Ji Dam Project (Package-1). The project is valued at Rs 910.08 crores, including GST.
The company had earlier been declared the Lowest Bidder (L1) for this project. The receipt of the LoA now marks the formal commencement of this engagement. The project, located at Village Dadahu, Tehsil Renuka, District Sirmaur, Himachal Pradesh, is scheduled to be completed within a timeline of 30 months.
Under this package, Patel Engineering will undertake the Construction of three major diversion tunnels, each designed with a diameter of 9.5 meters and extending over lengths ranging from 1.3 to 1.6 kilometres. The works also encompass the creation of inlet and outlet structures for these tunnels, the development of approximately 6 kilometres of approach and access roads, and the installation of advanced hydro-mechanical systems to regulate water flow.
Additionally, the project scope includes comprehensive instrumentation and monitoring systems to ensure long-term operational reliability and safety.
Commenting on the development, Ms. Kavita Shirvairkar, Managing Director of Patel Engineering, stated:
"Receiving the Letter of Award for the Renuka Ji Dam Project is a proud milestone for Patel Engineering. Having earlier been declared the L1 bidder, this award reflects the confidence HPPCL has placed in our ability to deliver complex infrastructure with precision and reliability. It is both an opportunity and a responsibility - to transform vision into reality, strengthen India’s water security, and support renewable energy development. We are committed to executing this project on schedule with the highest standards of quality, safety, and innovation, while creating lasting value for communities and contributing meaningfully to the nation’s growth story."
Patel Engineering Ltd is a 76-year-old company and has a strong presence in hydropower, tunnelling and irrigation segments. The company has a consistent track record in the execution of projects in both domestic and international arenas. PEL has completed over 85 dams, 40 hydroelectric projects and more than 300 km of tunnelling for clients, which are mostly central PSUs or state government organisations.
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).
Patel Engineering Ltd Share Price Performance
In the afternoon session, the company’s shares traded almost flat, hovering around Rs 24.96, down marginally by Rs 0.01 (-0.04 per cent) from the previous close of Rs 24.97. The stock opened at Rs 24.65, touched a high of Rs 25.49 and a low of Rs 24.29, showing limited volatility during the session.
Disclaimer: The article is for informational purposes only and not investment advice.