Patel Engineering has secured a contract worth Rs 13.19 Bn for the construction of the Kondhane Dam and its associated works from the City and Industrial Development Corporation (CIDCO). Following the announcement, the company’s share price rose 1.67 per cent to Rs 43.73.

The project, located in Kondhane village, Karjat Taluka, Raigad district in Maharashtra, is scheduled to be completed within 42 months. Patel Engineering had previously been declared the lowest bidder (L1) for this project.

The contract includes civil works for a 1,209-metre-long and 83-metre-high dam, hydro-mechanical and electrical components, and the installation of three radial gates. It will also cover electrical and manual gate control systems and overall site electrification. The project will use Roller Compacted Concrete (RCC) Technology.

Patel Engineering specialises in large-scale civil infrastructure, particularly in hydropower and irrigation. The company is engaged in the construction of dams, tunnels, bridges, roads, and other industrial structures.

In Q3 of financial year 2025, the company reported a 14.49 per cent rise in consolidated net profit to Rs 804.2 Mn and a 13.61 per cent increase in revenue to Rs 12.06 Bn compared to the same quarter in FY24.

Source:Capital Market – Live News