Patel Engineering Ltd JV wins order

Patel Engineering Limited, a civil construction Company specialized in the hydropower and irrigation sector, has announced that, the Company along with the JV Partner has received letter of awards for the works involving Construction of Pipe Line Distribution Network for Nira Deoghar Right Bank Main Canal Km 66 to Km 76 and also Km 77 to Km 87 from Maharashtra Krishna Valley Development Corporation, Pune, which were declared as L1 earlier.

The Company being 40% partner in the JV, our share in the project is Rs. 174.57 crore.

About the Project

Description: The Irrigation projects comprises of construction of a Pipe Distribution Network for Nira Deoghar Right Bank Main Canal Km 66 to Km 76 and Km 77 to Km 87.

Combined Value of Both Contracts: Rs. 436.42 crore

Time Period: 30 months

Location: Maharashtra, District - Satara.

Type of Contract: Item Rate Contract.

Shares of Patel Engineering Limited was last trading in BSE at Rs. 62.59 as compared to the previous close of Rs. 60.82. The total number of shares traded during the day was 678557 in over 3544 trades.

The stock hit an intraday high of Rs. 64.35 and intraday low of 61.72. The net turnover during the day was Rs. 42953457.00.

Source : Equity Bulls

Keywords

PatelEngineering INE244B01030 JV LOA OrderWin