Patel Engineering’s stake in the contract amounts to ₹64.45 crore, which constitutes a 51% share in the joint venture. The company previously notified exchanges on February 23, 2026, that it was the lowest bidder (L1) for the project. The issuance of the Letter of Award formalizes the award and initiates project execution.
The project encompasses the construction of an irrigation and water distribution system serving a command area of 2,277 ICA across six villages in Satara Taluka, Maharashtra.
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The work scope includes headworks, pump stations, switchyards, rising mains, delivery chambers, pumping machinery, and associated civil, mechanical, and electrical works. It also features a closed pipe distribution network involving excavation, laying, and jointing of MS, PCCP, and HDPE pipelines.
The project is spread across the villages of Tasgaon, Varne, Karandwadi, Devkarwadi, Degaon, and Nigadi in Satara Taluka of Satara district, Maharashtra. The irrigation initiative is projected to be completed within 48 months.
The Tasgaon Lift Irrigation Scheme is geared towards enhancing water accessibility and fostering agricultural growth in the area. This project is anticipated to broaden irrigation availability across various villages, leading to improved agricultural productivity and sustained rural development in Maharashtra.
Also Read: Patel Engineering secures ₹798-crore contracts for Chhattisgarh coal excavation projectFourth Quarter Results
Revenue for Q4FY26 dipped 11.8% year-on-year to ₹1,421.5 crore from ₹1,611.8 crore in the same quarter last year. Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) saw a decline of 1.4% to ₹215.2 crore from ₹218 crore a year earlier.
However, EBITDA margin improved to 15.1% from 13.5% compared to the previous year. Net profit for the quarter reached ₹71.5 crore, compared to ₹32.8 crore in Q4FY25, reflecting an increase of nearly 118% year-on-year.
For FY26, the company reported revenue of ₹5,102.7 crore, nearly unchanged from ₹5,093.4 crore in FY25. Net profit for the year rose 21.6% to ₹294.5 crore from ₹242.2 crore in the prior year. EBITDA for FY26 totaled ₹684 crore, with a margin of 13.4%.
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Patel Engineering stated its order book was ₹15,119 crore as of March 31, 2026. Throughout FY26, the company acquired new orders amounting to approximately ₹4,400 crore.
The firm also reported being recognized as the L1 bidder for projects totaling nearly ₹1,660 crore and has signed an MoU for the 144 MW Gongri Hydropower project valued at around ₹1,700 crore.
Shares of Patel Engineering Ltd closed at ₹27.77, up by ₹1.76, or 0.48%, on the BSE.
(Edited by : Jomy Jos Pullokaran)
First Published: Jun 15, 2026 4:13 PM IST
