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Patel Engineering Ltd receives LoA worth Rs. 910.08 crores
Posted On : 2026-03-19 18:17:20( TIMEZONE : IST )
Patel Engineering Limited ("Company" or "PEL"), a Mumbai-based infrastructure company, is pleased to 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), valued at Rs. 910.08 crores including GST. The Company had earlier been declared the Lowest Bidder (L1) for this project, and the receipt of the LoA marks the formal commencement of this significant 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 kilometers. The works also encompass the creation of inlet and outlet structures for these tunnels, development of approximately 6 kilometers of approach and access roads, and installation of advanced hydro-mechanical systems to regulate water flow. Additionally, the project scope includes comprehensive instrumentation and monitoring systems to ensure longterm operational reliability and safety.
Commenting on the development, Ms. Kavita Shirvairkar, Managing Director, Patel Engineering said: "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."
Shares of Patel Engineering Limited was last trading in BSE at Rs. 24.96 as compared to the previous close of Rs. 24.35. The total number of shares traded during the day was 365886 in over 1670 trades.
The stock hit an intraday high of Rs. 25.29 and intraday low of 24.35. The net turnover during the day was Rs. 9121667.00.
