Patel Engineering Ltd, in a joint venture, has won a ₹958.33 crore irrigation project from the Maharashtra Krishna Valley Development Corporation (MKVDC). The project aims to enhance water distribution infrastructure in Satara district, supporting agricultural productivity and rural development.
Key Highlights:
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Project Scope: The contract involves constructing a Pipeline Distribution Network for the Nira Deoghar Right Bank Main Canal, covering Km 87 to Km 135, along with distributaries and minor canals.
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JV Partnership: Patel Engineering holds a 20% stake, with its share valued at ₹191.67 crore.
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Execution Timeline: The project is expected to be completed within 36 months, followed by a five-year operations and maintenance period.
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Stock Market Impact: Patel Engineering’s stock saw minor fluctuations, trading at ₹41.81, after briefly touching ₹41.97 post-announcement
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Strategic Importance: The project is part of Maharashtra’s broader irrigation expansion, ensuring efficient water management for farming communities.
This contract reinforces Patel Engineering’s expertise in infrastructure development, further strengthening its order book and market position.
Source: Equity Bulls, Ventura Securities, Swarajya