Shares of Patel Engineering Ltd were trading in the green and 5% higher on 6 August after the company secured an order worth Rs 317 crore from the Maharashtra Government. 

In its regulatory filing, the company said, “The Office of the Executive Engineer, Government of Maharashtra has awarded Patel Engineering Limited (PEL) along with its JV Partner a Rs 317.60 crore contract for 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 project has a 24-month completion deadline, and the company has a 35% stake in the joint venture.

The work’s scope includes building the water lifting arrangement for LIS 1 through 12 of the Jigaon project’s first stage, which includes the approach channel, rising main, pumping machinery, switchyard, and all related civil, mechanical, and electrical component works.

Kavita Shirvaikar, Acting Managing Director of Patel Engineering, said, “This undertaking not only underscores our technical capabilities but also reinforces our unwavering commitment to advancing critical infrastructure. We look forward to collaborating with the Government of Maharashtra and our partners to ensure the project’s successful and timely completion, which will be instrumental in boosting agricultural productivity and enhancing water management in the region.”

At 11:48 am, the shares of Patel Engineering were trading 3% higher at Rs 55.10 on NSE.

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