Patel Engineering (PEL) said that along with its joint venture (JV) has been declared as lowest bidder from office of the executive engineer, government of Maharashtra for the irrigation project worth Rs 342.76 crore.
Irrigation project includes the works involving Construction of water lifting arrangement work for first stage from submergence of Jigaon project including Civil, Mechanical, Electrical component & allied works.The said project is located in the state of Maharashtra and the project is to be executed in a Joint Venture, of which PELs share is 35%.
The project is to be completed in a period of 24 months.
Patel Engineering is a civil construction company that specializes in hydropower and irrigation projects.
The company reported consolidated net profit of Rs 68.83 crore in Q3 FY24 steeply higher than Rs 24.34 crore recorded in Q3 FY23. Net sales jumped by 11% year on year to Rs 1,061.01 crore in Q3 FY24 over Q3 FY23.
The counter fell 3.72% to end at Rs 55.28 on Tuesday, 7 may 2024.
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